Travere Therapeutics (NASDAQ:TVTX) Stock Price Down 10.4%

Travere Therapeutics, Inc. (NASDAQ:TVTX) dropped 10.4% on Monday . The company traded as low as $7.93 and last traded at $8.06. Approximately 564,545 shares changed hands during trading, a decline of 54% from the average daily volume of 1,227,376 shares. The stock had previously closed at $9.00.

Analyst Ratings Changes

TVTX has been the subject of a number of recent research reports. Wedbush lifted their price objective on Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday. Piper Sandler lifted their price target on Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday. HC Wainwright lifted their price target on Travere Therapeutics from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday. Canaccord Genuity Group lifted their price target on Travere Therapeutics from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Finally, Barclays lifted their price target on Travere Therapeutics from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $15.27.

Travere Therapeutics Trading Down 5.2 %

The firm has a market capitalization of $649.38 million, a price-to-earnings ratio of -4.05 and a beta of 0.77. The company has a fifty day moving average price of $8.36 and a two-hundred day moving average price of $7.74. The company has a current ratio of 2.78, a quick ratio of 2.75 and a debt-to-equity ratio of 5.10.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Monday, May 6th. The company reported ($1.76) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.78). Travere Therapeutics had a negative return on equity of 207.40% and a negative net margin of 82.14%. The company had revenue of $41.40 million for the quarter, compared to analyst estimates of $43.46 million. During the same quarter in the prior year, the firm earned ($1.27) earnings per share. The company’s revenue for the quarter was up 34.0% on a year-over-year basis. As a group, research analysts forecast that Travere Therapeutics, Inc. will post -3.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TVTX. Signaturefd LLC lifted its stake in Travere Therapeutics by 1,656.4% during the fourth quarter. Signaturefd LLC now owns 3,021 shares of the company’s stock worth $27,000 after purchasing an additional 2,849 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Travere Therapeutics in the first quarter valued at $32,000. Nisa Investment Advisors LLC increased its holdings in Travere Therapeutics by 968.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,650 shares of the company’s stock valued at $51,000 after buying an additional 5,121 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Travere Therapeutics by 353.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,690 shares of the company’s stock valued at $78,000 after buying an additional 6,773 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Travere Therapeutics in the fourth quarter valued at $137,000.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.