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

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have earned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $29.00.

A number of analysts recently commented on TVTX shares. Citigroup lifted their target price on shares of Travere Therapeutics from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday. Piper Sandler lifted their target price on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. HC Wainwright lifted their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Scotiabank lifted their price objective on shares of Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Wednesday, February 12th. Finally, Canaccord Genuity Group lifted their price objective on shares of Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th.

Insider Activity at Travere Therapeutics

In related news, CFO Christopher R. Cline sold 5,192 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $20.12, for a total value of $104,463.04. Following the completion of the sale, the chief financial officer now owns 90,038 shares of the company’s stock, valued at approximately $1,811,564.56. The trade was a 5.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sandra Calvin sold 54,244 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the completion of the sale, the chief accounting officer now directly owns 54,410 shares of the company’s stock, valued at approximately $1,360,250. The trade was a 49.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,335 shares of company stock worth $4,453,012 in the last three months. Company insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TVTX. CWM LLC increased its holdings in Travere Therapeutics by 158.5% in the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after acquiring an additional 3,065 shares in the last quarter. Creative Planning grew its holdings in shares of Travere Therapeutics by 4.3% during the third quarter. Creative Planning now owns 23,938 shares of the company’s stock worth $335,000 after buying an additional 995 shares in the last quarter. Semanteon Capital Management LP purchased a new stake in shares of Travere Therapeutics during the third quarter worth $513,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Travere Therapeutics by 64.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 14,712 shares of the company’s stock worth $206,000 after buying an additional 5,767 shares in the last quarter. Finally, Rice Hall James & Associates LLC grew its holdings in shares of Travere Therapeutics by 24.4% during the third quarter. Rice Hall James & Associates LLC now owns 94,736 shares of the company’s stock worth $1,325,000 after buying an additional 18,562 shares in the last quarter.

Travere Therapeutics Stock Down 3.4 %

TVTX stock opened at $21.23 on Tuesday. The firm has a 50 day moving average of $19.75 and a 200 day moving average of $16.77. The stock has a market capitalization of $1.66 billion, a PE ratio of -5.18 and a beta of 0.72. 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 has a 52 week low of $5.12 and a 52 week high of $25.29.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, February 20th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). The company had revenue of $74.79 million during the quarter, compared to analyst estimates of $72.38 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. Sell-side analysts forecast that Travere Therapeutics will post -1.4 earnings per share for the current year.

About Travere Therapeutics

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.