Travere Therapeutics, Inc. (NASDAQ:TVTX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $52.0833.

Several research firms have weighed in on TVTX. Weiss Ratings cut shares of Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 23rd. Citigroup increased their price target on shares of Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Piper Sandler upgraded Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 target price on the stock in a report on Tuesday, April 14th. Canaccord Genuity Group increased their price objective on shares of Travere Therapeutics from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Finally, Wall Street Zen downgraded Travere Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, May 9th.

Travere Therapeutics Stock Up 1.0%

Shares of TVTX stock opened at $56.90 on Friday. Travere Therapeutics has a 12 month low of $14.44 and a 12 month high of $60.10. The company has a quick ratio of 3.08, a current ratio of 3.13 and a debt-to-equity ratio of 3.16. The firm has a market cap of $5.29 billion, a PE ratio of -247.38 and a beta of 1.10. The stock has a 50 day moving average of $47.64 and a 200-day moving average of $37.33.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.29. The company had revenue of $127.20 million during the quarter, compared to analysts’ expectations of $136.23 million. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The business’s revenue was up 55.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.47) EPS. On average, equities analysts predict that Travere Therapeutics will post -0.25 EPS for the current year.

Insider Activity

In related news, CEO Eric M. Dube sold 64,000 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $41.09, for a total value of $2,629,760.00. Following the completion of the transaction, the chief executive officer directly owned 432,886 shares of the company’s stock, valued at approximately $17,787,285.74. This trade represents a 12.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jula Inrig sold 20,000 shares of Travere Therapeutics stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $45.00, for a total transaction of $900,000.00. Following the completion of the transaction, the insider directly owned 111,473 shares of the company’s stock, valued at approximately $5,016,285. This trade represents a 15.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last three months, insiders have sold 334,515 shares of company stock worth $14,184,428. Corporate insiders own 4.44% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of TVTX. State Street Corp lifted its holdings in Travere Therapeutics by 47.8% during the 4th quarter. State Street Corp now owns 4,756,666 shares of the company’s stock valued at $181,752,000 after purchasing an additional 1,538,827 shares during the last quarter. Wellington Management Group LLP boosted its position in Travere Therapeutics by 3,331.9% during the third quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock worth $28,715,000 after purchasing an additional 1,166,460 shares during the period. Fiera Capital Corp bought a new position in Travere Therapeutics during the fourth quarter worth $33,398,000. Perceptive Advisors LLC acquired a new position in shares of Travere Therapeutics in the second quarter valued at $12,347,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Travere Therapeutics in the second quarter valued at $10,348,000.

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.