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

Travere Therapeutics, Inc. (NASDAQ:TVTX) has earned an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $23.67.

A number of brokerages have recently weighed in on TVTX. Piper Sandler increased their target price on Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Wells Fargo & Company upgraded Travere Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. Guggenheim boosted their target price on shares of Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. HC Wainwright lowered their price target on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Finally, Barclays boosted their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, November 1st.

Insiders Place Their Bets

In other Travere Therapeutics news, CAO Sandra Calvin sold 15,000 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $17.22, for a total transaction of $258,300.00. Following the completion of the transaction, the chief accounting officer now owns 54,927 shares of the company’s stock, valued at approximately $945,842.94. The trade was a 21.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

A number of hedge funds have recently made changes to their positions in TVTX. CWM LLC lifted its stake in Travere Therapeutics by 158.5% in the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after purchasing an additional 3,065 shares during the last quarter. DRW Securities LLC acquired a new stake in shares of Travere Therapeutics during the 2nd quarter valued at $95,000. Quarry LP bought a new stake in Travere Therapeutics during the 3rd quarter worth $105,000. Forefront Analytics LLC increased its holdings in 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 purchasing an additional 1,237 shares in the last quarter. Finally, Sei Investments Co. bought a new position in Travere Therapeutics in the second quarter valued at about $117,000.

Travere Therapeutics Trading Down 0.6 %

TVTX stock opened at $18.86 on Monday. Travere Therapeutics has a one year low of $5.12 and a one year high of $20.33. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -4.15 and a beta of 0.69. The company has a fifty day moving average price of $18.12 and a two-hundred day moving average price of $13.72. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.01. The business had revenue of $62.90 million during the quarter, compared to the consensus estimate of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. Travere Therapeutics’s revenue was up 69.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.17) EPS. Equities analysts anticipate that Travere Therapeutics will post -3.94 EPS 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.