$50.20 Million in Sales Expected for Travere Therapeutics, Inc. (NASDAQ:TVTX) This Quarter

Equities analysts expect that Travere Therapeutics, Inc. (NASDAQ:TVTX) will post $50.20 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Travere Therapeutics’ earnings, with estimates ranging from $50.00 million to $50.42 million. Travere Therapeutics reported sales of $48.43 million in the same quarter last year, which indicates a positive year-over-year growth rate of 3.7%. The company is expected to issue its next earnings report on Thursday, July 29th.

According to Zacks, analysts expect that Travere Therapeutics will report full year sales of $200.27 million for the current year, with estimates ranging from $192.60 million to $207.60 million. For the next year, analysts forecast that the firm will report sales of $202.06 million, with estimates ranging from $186.13 million to $217.12 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Travere Therapeutics.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, May 6th. The company reported ($0.96) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.40). The firm had revenue of $47.41 million during the quarter, compared to analyst estimates of $49.99 million. Travere Therapeutics had a negative net margin of 113.21% and a negative return on equity of 75.08%.

Several equities analysts have commented on the stock. Evercore ISI dropped their price target on shares of Travere Therapeutics from $30.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 26th. BMO Capital Markets lowered their target price on shares of Travere Therapeutics from $43.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, May 7th. Wedbush lowered shares of Travere Therapeutics from an “outperform” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research report on Wednesday, May 26th. Barclays lowered their target price on shares of Travere Therapeutics from $40.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 26th. Finally, Canaccord Genuity lowered their target price on shares of Travere Therapeutics from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, May 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Travere Therapeutics currently has an average rating of “Buy” and an average price target of $32.71.

In other Travere Therapeutics news, Director Steve Aselage sold 10,000 shares of the firm’s stock in a transaction on Friday, April 16th. The stock was sold at an average price of $26.23, for a total value of $262,300.00. Following the completion of the sale, the director now owns 198,940 shares of the company’s stock, valued at $5,218,196.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Eric M. Dube sold 9,562 shares of the firm’s stock in a transaction on Wednesday, June 2nd. The shares were sold at an average price of $14.62, for a total value of $139,796.44. Over the last quarter, insiders sold 37,289 shares of company stock worth $888,525. 4.31% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in TVTX. BlackRock Inc. acquired a new position in shares of Travere Therapeutics during the 4th quarter worth $131,510,000. Janus Henderson Group PLC acquired a new position in Travere Therapeutics in the 4th quarter valued at about $111,297,000. Armistice Capital LLC acquired a new position in Travere Therapeutics in the 1st quarter valued at about $58,829,000. The Manufacturers Life Insurance Company acquired a new position in Travere Therapeutics in the 4th quarter valued at about $59,603,000. Finally, Renaissance Technologies LLC acquired a new position in Travere Therapeutics in the 4th quarter valued at about $50,733,000.

Travere Therapeutics stock traded up $0.47 during mid-day trading on Tuesday, hitting $15.07. The company had a trading volume of 41,515 shares, compared to its average volume of 666,672. The stock has a market cap of $911.10 million, a PE ratio of -3.36 and a beta of 0.66. Travere Therapeutics has a 1 year low of $13.85 and a 1 year high of $33.09. The company has a debt-to-equity ratio of 0.60, a quick ratio of 6.56 and a current ratio of 6.65. The business has a fifty day moving average of $20.92.

About Travere Therapeutics

Travere Therapeutics, Inc is a biopharmaceutical company. It engages in the identification, development, commercialization, and distribution of therapies to people living with rare diseases. The firm’s products include Chenodal, Cholbam, and Thiola. The company was founded by Martin Shkreli on February 8, 2008 and is headquartered in San Diego, CA.

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Earnings History and Estimates for Travere Therapeutics (NASDAQ:TVTX)

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