Travere Therapeutics (NASDAQ:TVTX) Hits New 12-Month High – Should You Buy?

Travere Therapeutics, Inc. (NASDAQ:TVTX) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $20.33 and last traded at $20.19, with a volume of 864715 shares trading hands. The stock had previously closed at $19.46.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TVTX shares. Leerink Partners restated an “outperform” rating and set a $20.00 price objective on shares of Travere Therapeutics in a research note on Tuesday, October 8th. Barclays increased their price target on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Scotiabank increased their price target on Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. Bank of America increased their price target on Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company upgraded Travere Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $24.00.

Travere Therapeutics Price Performance

The firm has a market capitalization of $1.59 billion, a P/E ratio of -4.46 and a beta of 0.70. The business has a fifty day moving average of $18.33 and a 200-day moving average of $14.87. 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 issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.01. The firm had revenue of $62.90 million during 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 firm’s quarterly revenue was up 69.6% on a year-over-year basis. During the same period last year, the company posted ($1.17) EPS. On average, sell-side analysts forecast that Travere Therapeutics, Inc. will post -3.92 EPS for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other news, CAO Sandra Calvin sold 12,090 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $18.30, for a total transaction of $221,247.00. Following the completion of the sale, the chief accounting officer now owns 54,927 shares in the company, valued at approximately $1,005,164.10. This represents a 18.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roy D. Baynes sold 16,000 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $20.00, for a total value of $320,000.00. Following the sale, the director now owns 31,000 shares of the company’s stock, valued at $620,000. This trade represents a 34.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,143 shares of company stock valued at $1,167,512. 3.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC lifted its position in shares of Travere Therapeutics by 33.9% during the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after acquiring an additional 747,406 shares during the last quarter. Emerald Advisers LLC lifted its holdings in shares of Travere Therapeutics by 19.8% in the third quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock valued at $27,430,000 after purchasing an additional 323,513 shares in the last quarter. Finepoint Capital LP lifted its holdings in shares of Travere Therapeutics by 0.3% in the third quarter. Finepoint Capital LP now owns 1,782,267 shares of the company’s stock valued at $24,934,000 after purchasing an additional 5,539 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Travere Therapeutics by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock valued at $24,222,000 after purchasing an additional 64,744 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its holdings in shares of Travere Therapeutics by 26.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company’s stock valued at $16,588,000 after purchasing an additional 244,444 shares in the last quarter.

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.