Travere Therapeutics (NASDAQ:TVTX) Trading Up 5.5% – Should You Buy?

Travere Therapeutics, Inc. (NASDAQ:TVTX) traded up 5.5% during trading on Wednesday . The stock traded as high as $45.46 and last traded at $45.31. 760,793 shares were traded during trading, a decline of 65% from the average session volume of 2,203,089 shares. The stock had previously closed at $42.96.

Analyst Ratings Changes

Several research firms have recently commented on TVTX. Wells Fargo & Company upped their price target on Travere Therapeutics from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Wall Street Zen lowered Travere Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Canaccord Genuity Group increased their target price on Travere Therapeutics from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Wedbush reaffirmed an “outperform” rating and set a $55.00 price target on shares of Travere Therapeutics in a research report on Wednesday. Finally, Weiss Ratings raised shares of Travere Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 21st. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.67.

Travere Therapeutics Trading Up 4.4%

The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of -194.95 and a beta of 1.13. The firm has a 50-day moving average price of $38.29 and a 200-day moving average price of $34.51.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.29. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The business had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $136.23 million. During the same period in the previous year, the firm posted ($0.47) EPS. The company’s quarterly revenue was up 55.6% on a year-over-year basis. As a group, sell-side analysts predict that Travere Therapeutics, Inc. will post -0.26 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jula Inrig sold 20,000 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $45.00, for a total transaction of $900,000.00. Following the sale, the insider directly owned 111,473 shares in the company, valued at approximately $5,016,285. The trade was a 15.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 Elizabeth E. Reed sold 44,715 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $41.21, for a total transaction of $1,842,705.15. Following the completion of the transaction, the insider owned 111,996 shares of the company’s stock, valued at approximately $4,615,355.16. This trade represents a 28.53% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold 400,015 shares of company stock worth $15,895,428 over the last 90 days. Insiders own 4.44% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System lifted its stake in shares of Travere Therapeutics by 1.5% in the third quarter. Arizona State Retirement System now owns 24,964 shares of the company’s stock worth $597,000 after acquiring an additional 375 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Travere Therapeutics by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock valued at $45,000 after buying an additional 487 shares in the last quarter. Comerica Bank lifted its holdings in shares of Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after acquiring an additional 492 shares during the last quarter. ProShare Advisors LLC grew its position in Travere Therapeutics by 4.1% in the fourth quarter. ProShare Advisors LLC now owns 19,007 shares of the company’s stock worth $726,000 after acquiring an additional 756 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Travere Therapeutics by 26.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,348 shares of the company’s stock worth $166,000 after acquiring an additional 902 shares in the last quarter.

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.