Travere Therapeutics (NASDAQ:TVTX) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Travere Therapeutics (NASDAQ:TVTX) in a research report sent to investors on Friday morning,Benzinga reports.

A number of other analysts have also recently issued reports on TVTX. Piper Sandler boosted their price objective on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Canaccord Genuity Group lifted their price target on shares of Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Scotiabank increased 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. HC Wainwright lifted their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Finally, Barclays upped their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.77.

Travere Therapeutics Stock Performance

NASDAQ TVTX opened at $21.98 on Friday. The company’s fifty day moving average is $19.68 and its two-hundred day moving average is $16.57. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $25.29. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -4.83 and a beta of 0.72.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The firm had revenue of $74.79 million for the quarter, compared to analyst estimates of $72.38 million. Equities research analysts forecast that Travere Therapeutics will post -3.9 EPS for the current year.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, insider Peter Heerma sold 1,584 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total value of $30,000.96. Following the transaction, the insider now owns 106,374 shares of the company’s stock, valued at approximately $2,014,723.56. The trade was a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sandra Calvin sold 54,244 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total value of $1,356,100.00. Following the completion of the sale, the chief accounting officer now owns 54,410 shares of the company’s stock, valued at approximately $1,360,250. This trade represents a 49.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 218,425 shares of company stock valued at $4,674,259. Corporate insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC increased its position in Travere Therapeutics by 608.1% in the 4th quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company’s stock valued at $38,637,000 after acquiring an additional 1,904,733 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Travere Therapeutics during the fourth quarter valued at approximately $21,075,000. RA Capital Management L.P. acquired a new stake in shares of Travere Therapeutics in the fourth quarter valued at approximately $20,033,000. Jennison Associates LLC acquired a new stake in shares of Travere Therapeutics in the fourth quarter valued at approximately $14,222,000. Finally, Jacobs Levy Equity Management Inc. raised its position in Travere Therapeutics by 36.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company’s stock worth $37,875,000 after purchasing an additional 583,836 shares during 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.