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

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $48.9167.

A number of equities research analysts have commented on TVTX shares. Wells Fargo & Company increased their price objective on shares of Travere Therapeutics from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. TD Cowen increased their price objective on shares of Travere Therapeutics from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Wall Street Zen downgraded shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Piper Sandler raised shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price objective on the stock in a research report on Tuesday, April 14th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th.

Insider Buying and Selling

In other Travere Therapeutics news, insider Jula Inrig sold 2,174 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $46.65, for a total value of $101,417.10. Following the sale, the insider directly owned 113,549 shares of the company’s stock, valued at approximately $5,297,060.85. This represents a 1.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William E. Rote sold 2,763 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $43.95, for a total transaction of $121,433.85. Following the completion of the sale, the insider directly owned 115,474 shares in the company, valued at approximately $5,075,082.30. This represents a 2.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 400,015 shares of company stock worth $15,895,428. Corporate insiders own 4.44% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in shares of Travere Therapeutics in the 2nd quarter valued at $33,000. Fifth Third Bancorp acquired a new position in shares of Travere Therapeutics in the 1st quarter valued at $35,000. State of Wyoming acquired a new position in shares of Travere Therapeutics in the 4th quarter valued at $37,000. Torren Management LLC acquired a new position in shares of Travere Therapeutics in the 4th quarter valued at $38,000. Finally, Comerica Bank boosted its holdings in shares of Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after buying an additional 492 shares in the last quarter.

Travere Therapeutics Price Performance

Shares of TVTX opened at $45.81 on Monday. Travere Therapeutics has a fifty-two week low of $13.88 and a fifty-two week high of $48.61. The firm’s 50 day moving average price is $39.71 and its 200 day moving average price is $34.79. The company has a market cap of $4.26 billion, a P/E ratio of -199.17 and a beta of 1.13. The company has a quick ratio of 3.08, a current ratio of 3.13 and a debt-to-equity ratio of 3.16.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.29. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The firm had revenue of $127.20 million for the quarter, compared to the consensus estimate of $136.23 million. During the same period in the prior year, the firm earned ($0.47) EPS. The firm’s revenue for the quarter was up 55.6% on a year-over-year basis. On average, research analysts forecast that Travere Therapeutics will post -0.29 earnings per share for the current fiscal year.

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.