What is Wedbush’s Forecast for TVTX FY2024 Earnings?

Travere Therapeutics, Inc. (NASDAQ:TVTX) – Research analysts at Wedbush increased their FY2024 earnings estimates for shares of Travere Therapeutics in a report released on Thursday, January 23rd. Wedbush analyst L. Chico now forecasts that the company will post earnings per share of ($3.84) for the year, up from their prior estimate of ($3.89). Wedbush currently has a “Outperform” rating and a $25.00 target price on the stock. The consensus estimate for Travere Therapeutics’ current full-year earnings is ($3.92) per share. Wedbush also issued estimates for Travere Therapeutics’ Q4 2024 earnings at ($0.47) EPS, Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.18) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at $0.15 EPS, FY2025 earnings at ($0.49) EPS, FY2026 earnings at $1.45 EPS, FY2027 earnings at $3.27 EPS and FY2029 earnings at $5.46 EPS.

Other research analysts also recently issued reports about the stock. Piper Sandler upped their target price on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Scotiabank raised their target price on Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. Leerink Partners reiterated an “outperform” rating and issued a $20.00 price target on shares of Travere Therapeutics in a research note on Tuesday, October 8th. Wells Fargo & Company upgraded Travere Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $9.00 to $27.00 in a research note on Monday, October 21st. Finally, Guggenheim increased their target price on Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Travere Therapeutics Stock Up 4.7 %

NASDAQ TVTX opened at $21.07 on Monday. The stock has a market cap of $1.64 billion, a PE ratio of -4.63 and a beta of 0.70. The business has a 50 day moving average price of $18.46 and a two-hundred day moving average price of $15.10. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $21.56. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.01. The company had revenue of $62.90 million during the quarter, compared to the consensus estimate of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The company’s revenue was up 69.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.17) earnings per share.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TVTX. Entropy Technologies LP bought a new stake in shares of Travere Therapeutics during the fourth quarter valued at approximately $214,000. abrdn plc acquired a new stake in Travere Therapeutics in the 4th quarter valued at approximately $6,829,000. Jennison Associates LLC bought a new stake in Travere Therapeutics during the 4th quarter valued at $14,222,000. China Universal Asset Management Co. Ltd. boosted its position in Travere Therapeutics by 23.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,206 shares of the company’s stock worth $317,000 after acquiring an additional 3,494 shares during the period. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Travere Therapeutics in the fourth quarter worth $192,000.

Insider Activity

In other Travere Therapeutics news, CAO Sandra Calvin sold 12,090 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $18.30, for a total value of $221,247.00. Following the sale, the chief accounting officer now directly owns 54,927 shares in the company, valued at approximately $1,005,164.10. This trade represents a 18.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Roy D. Baynes sold 16,000 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $20.00, for a total transaction of $320,000.00. Following the transaction, the director now owns 31,000 shares of the company’s stock, valued at $620,000. This represents a 34.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 62,143 shares of company stock valued at $1,167,512. Company insiders own 3.75% of the company’s stock.

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.