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

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been assigned an average recommendation of “Moderate Buy” from the sixteen brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $38.8571.

TVTX has been the topic of a number of recent research reports. Zacks Research downgraded Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Wall Street Zen upgraded Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. HC Wainwright reissued a “buy” rating and issued a $47.00 price objective on shares of Travere Therapeutics in a report on Friday, November 28th. Finally, Piper Sandler raised their target price 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.

Travere Therapeutics Trading Up 6.5%

Shares of NASDAQ:TVTX opened at $33.10 on Tuesday. The company’s 50-day moving average price is $34.17 and its two-hundred day moving average price is $27.64. Travere Therapeutics has a one year low of $12.91 and a one year high of $42.13. The company has a debt-to-equity ratio of 4.23, a current ratio of 2.75 and a quick ratio of 2.71. The stock has a market capitalization of $2.96 billion, a PE ratio of -31.23, a price-to-earnings-growth ratio of 1.02 and a beta of 0.85.

Insider Buying and Selling

In related news, insider Jula Inrig sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $42.00, for a total value of $630,000.00. Following the completion of the sale, the insider directly owned 88,787 shares in the company, valued at approximately $3,729,054. This trade represents a 14.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Christopher R. Cline sold 20,000 shares of Travere Therapeutics stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $35.01, for a total value of $700,200.00. Following the transaction, the chief financial officer owned 92,083 shares of the company’s stock, valued at $3,223,825.83. The trade was a 17.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 179,858 shares of company stock worth $6,408,552. Corporate insiders own 4.19% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Stephens Investment Management Group LLC bought a new stake in Travere Therapeutics in the 3rd quarter valued at $38,232,000. Wellington Management Group LLP raised its position in shares of Travere Therapeutics by 3,331.9% in the third quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock valued at $28,715,000 after purchasing an additional 1,166,460 shares during the period. Frazier Life Sciences Management L.P. bought a new position in shares of Travere Therapeutics in the second quarter valued at about $14,831,000. Perceptive Advisors LLC acquired a new stake in shares of Travere Therapeutics during the 2nd quarter worth about $12,347,000. Finally, Marshall Wace LLP bought a new stake in shares of Travere Therapeutics during the 2nd quarter worth about $10,992,000.

About Travere Therapeutics

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.