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 seventeen research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $38.7143.

A number of brokerages recently commented on TVTX. TD Cowen upped their target price on Travere Therapeutics from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Cowen reissued a “buy” rating on shares of Travere Therapeutics in a report on Friday, October 31st. Piper Sandler increased their price objective on shares of Travere Therapeutics from $26.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Stifel Nicolaus raised their price objective on shares of Travere Therapeutics from $20.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, September 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $47.00 target price on shares of Travere Therapeutics in a research note on Friday, November 28th.

Travere Therapeutics Stock Down 1.9%

TVTX stock opened at $35.60 on Friday. Travere Therapeutics has a twelve month low of $12.91 and a twelve month high of $42.13. The company has a quick ratio of 2.71, a current ratio of 2.75 and a debt-to-equity ratio of 4.23. The company has a market cap of $3.19 billion, a PE ratio of -33.58, a price-to-earnings-growth ratio of 1.28 and a beta of 0.85. The business’s 50-day simple moving average is $35.73 and its 200 day simple moving average is $25.74.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of ($0.31) by $0.59. Travere Therapeutics had a negative return on equity of 178.68% and a negative net margin of 20.32%.The firm had revenue of $164.86 million during the quarter, compared to analysts’ expectations of $106.09 million. During the same quarter in the prior year, the firm posted ($0.70) EPS. The company’s revenue for the quarter was up 162.1% on a year-over-year basis. On average, research analysts anticipate that Travere Therapeutics will post -1.4 earnings per share for the current year.

Insider Buying and Selling

In related news, insider William E. Rote sold 60,000 shares of the business’s stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $40.10, for a total value of $2,406,000.00. Following the sale, the insider owned 101,443 shares of the company’s stock, valued at $4,067,864.30. The trade was a 37.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jula Inrig sold 2,031 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $40.18, for a total value of $81,605.58. Following the transaction, the insider owned 86,756 shares of the company’s stock, valued at $3,485,856.08. This represents a 2.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 323,226 shares of company stock worth $11,290,656. Insiders own 4.19% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in TVTX. First Horizon Corp acquired a new stake in shares of Travere Therapeutics during the 3rd quarter worth about $36,000. Raymond James Financial Inc. acquired a new position in Travere Therapeutics in the second quarter valued at about $33,000. Headlands Technologies LLC bought a new stake in Travere Therapeutics during the second quarter worth about $73,000. Wealth Enhancement Advisory Services LLC bought a new stake in Travere Therapeutics during the fourth quarter worth about $224,000. Finally, Quadrant Capital Group LLC acquired a new stake in shares of Travere Therapeutics during the third quarter worth approximately $158,000.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.