Travere Therapeutics, Inc. (NASDAQ:TVTX) Given Average Recommendation of “Moderate Buy” by Brokerages

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $24.00.

Several research analysts have weighed in on TVTX shares. Wedbush increased their target price on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Leerink Partners reiterated an “outperform” rating and issued a $20.00 target price on shares of Travere Therapeutics in a report on Tuesday, October 8th. Cantor Fitzgerald started coverage on Travere Therapeutics in a research note on Friday, January 10th. They set an “overweight” rating on the stock. Barclays lifted their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Bank of America increased their target price on Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th.

Travere Therapeutics Stock Up 4.7 %

TVTX stock opened at $21.07 on Friday. Travere Therapeutics has a one year low of $5.12 and a one year high of $21.56. The firm has a market cap of $1.64 billion, a PE ratio of -4.63 and a beta of 0.70. The firm’s 50 day moving average price is $18.46 and its 200-day moving average price is $15.10. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.01. The business had revenue of $62.90 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 69.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.17) EPS. On average, equities research analysts anticipate that Travere Therapeutics will post -3.92 EPS for the current year.

Insider Buying and Selling

In other news, Director Roy D. Baynes sold 16,000 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $20.00, for a total transaction of $320,000.00. Following the transaction, the director now directly owns 31,000 shares in the company, valued at $620,000. The trade was a 34.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP William E. Rote sold 2,437 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $47,424.02. Following the transaction, the senior vice president now owns 83,170 shares in the company, valued at $1,618,488.20. The trade was a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,143 shares of company stock valued at $1,167,512 over the last quarter. 3.75% of the stock is currently owned by insiders.

Institutional Trading of Travere Therapeutics

Hedge funds have recently made changes to their positions in the stock. R Squared Ltd bought a new position in shares of Travere Therapeutics during the fourth quarter worth about $53,000. CWM LLC raised its stake in Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after buying an additional 3,065 shares in the last quarter. Quarry LP bought a new position in Travere Therapeutics during the 3rd quarter worth approximately $105,000. Forefront Analytics LLC grew its position in shares of Travere Therapeutics by 10.2% in the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after acquiring an additional 1,237 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in shares of Travere Therapeutics in the 2nd quarter valued at approximately $117,000.

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.