Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $31.62.

Several equities research analysts recently commented on TVTX shares. Bank of America boosted their price objective on shares of Travere Therapeutics from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. upped their price target on Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Evercore ISI lifted their price objective on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Scotiabank boosted their target price on Travere Therapeutics from $27.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Wednesday, February 12th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Travere Therapeutics in a report on Thursday, April 3rd.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, SVP William E. Rote sold 5,200 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $23.53, for a total value of $122,356.00. Following the transaction, the senior vice president now directly owns 98,519 shares of the company’s stock, valued at approximately $2,318,152.07. This trade represents a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sandra Calvin sold 3,348 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $20.12, for a total value of $67,361.76. Following the sale, the chief accounting officer now owns 63,654 shares of the company’s stock, valued at approximately $1,280,718.48. This represents a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,829 shares of company stock worth $4,146,997 in the last ninety days. Insiders own 4.06% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TVTX. The Manufacturers Life Insurance Company lifted its position in Travere Therapeutics by 61.6% during the third quarter. The Manufacturers Life Insurance Company now owns 47,045 shares of the company’s stock valued at $658,000 after purchasing an additional 17,931 shares in the last quarter. FMR LLC lifted its position in shares of Travere Therapeutics by 27.5% during the 3rd quarter. FMR LLC now owns 147,416 shares of the company’s stock valued at $2,062,000 after buying an additional 31,772 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of Travere Therapeutics by 30.2% during the 3rd quarter. Two Sigma Advisers LP now owns 720,400 shares of the company’s stock valued at $10,078,000 after acquiring an additional 167,100 shares during the period. Geode Capital Management LLC grew its stake in shares of Travere Therapeutics by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock valued at $24,222,000 after acquiring an additional 64,744 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Travere Therapeutics in the 3rd quarter worth approximately $301,000.

Travere Therapeutics Stock Performance

Travere Therapeutics stock opened at $14.50 on Wednesday. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $25.29. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -3.54 and a beta of 0.84. The stock’s 50 day simple moving average is $19.60 and its two-hundred day simple moving average is $18.59. 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 posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). The firm had revenue of $74.79 million during the quarter, compared to the consensus estimate of $72.38 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. As a group, analysts expect that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

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.