Travere Therapeutics (NASDAQ:TVTX) Earns “Overweight” Rating from Cantor Fitzgerald

Travere Therapeutics (NASDAQ:TVTX)‘s stock had its “overweight” rating reissued by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Friday,Benzinga reports.

TVTX has been the topic of a number of other research reports. Evercore ISI boosted their price objective on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Scotiabank upped their price target on shares of Travere Therapeutics from $27.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Wednesday, February 12th. HC Wainwright upped their price target on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Barclays upped their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Piper Sandler upped their price target on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.77.

Travere Therapeutics Trading Down 5.4 %

TVTX stock traded down $1.28 during mid-day trading on Friday, reaching $22.31. 1,817,542 shares of the stock traded hands, compared to its average volume of 1,598,511. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. Travere Therapeutics has a one year low of $5.12 and a one year high of $25.29. The stock has a market capitalization of $1.74 billion, a PE ratio of -4.89 and a beta of 0.72. The business has a 50-day moving average price of $19.58 and a two-hundred day moving average price of $16.48.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The firm had revenue of $74.79 million for the quarter, compared to the consensus estimate of $72.38 million. Equities research analysts expect that Travere Therapeutics will post -3.9 EPS for the current year.

Insider Buying and Selling

In related news, CAO Sandra Calvin sold 54,244 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total value of $1,356,100.00. Following the completion of the sale, the chief accounting officer now directly owns 54,410 shares of the company’s stock, valued at $1,360,250. This represents a 49.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William E. Rote sold 2,437 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total transaction of $47,424.02. Following the sale, the senior vice president now directly owns 83,170 shares of the company’s stock, valued at approximately $1,618,488.20. The trade was a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 218,425 shares of company stock valued at $4,674,259 over the last three months. 3.75% of the stock is owned by company insiders.

Institutional Trading of Travere Therapeutics

Several hedge funds have recently modified their holdings of the company. Rock Springs Capital Management LP lifted its position in shares of Travere Therapeutics by 6.2% during the fourth quarter. Rock Springs Capital Management LP now owns 4,973,649 shares of the company’s stock valued at $86,641,000 after buying an additional 289,173 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Travere Therapeutics by 28.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company’s stock valued at $41,974,000 after buying an additional 534,500 shares during the last quarter. Driehaus Capital Management LLC lifted its position in shares of Travere Therapeutics by 608.1% during the fourth quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company’s stock valued at $38,637,000 after buying an additional 1,904,733 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Travere Therapeutics by 36.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company’s stock valued at $37,875,000 after purchasing an additional 583,836 shares during the last quarter. Finally, Emerald Advisers LLC raised its position in shares of Travere Therapeutics by 8.4% in the 4th quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company’s stock valued at $37,030,000 after purchasing an additional 165,085 shares during the last quarter.

About Travere Therapeutics

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.