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

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have received an average rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $50.1667.

A number of equities research analysts have commented on TVTX shares. TD Cowen raised their price objective on Travere Therapeutics from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Piper Sandler raised Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price objective for the company in a research note on Tuesday, April 14th. Canaccord Genuity Group raised their price objective on Travere Therapeutics from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Wall Street Zen cut Travere Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Wedbush reissued an “outperform” rating and issued a $55.00 price objective on shares of Travere Therapeutics in a research note on Wednesday, June 3rd.

Travere Therapeutics Trading Up 6.4%

Shares of Travere Therapeutics stock opened at $52.04 on Monday. The company has a debt-to-equity ratio of 3.16, a quick ratio of 3.08 and a current ratio of 3.13. Travere Therapeutics has a 52 week low of $13.88 and a 52 week high of $52.72. The stock has a 50 day moving average price of $41.70 and a two-hundred day moving average price of $35.26. The stock has a market capitalization of $4.84 billion, a PE ratio of -226.25 and a beta of 1.13.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.05 EPS for the quarter, beating 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 firm had revenue of $127.20 million during the quarter, compared to analysts’ expectations of $136.23 million. During the same quarter last year, the firm posted ($0.47) earnings per share. The company’s revenue for the quarter was up 55.6% compared to the same quarter last year. As a group, equities analysts anticipate that Travere Therapeutics will post -0.29 earnings per share for the current fiscal year.

Insider Transactions at Travere Therapeutics

In related news, insider William E. Rote sold 2,763 shares of Travere Therapeutics stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $43.95, for a total transaction of $121,433.85. Following the transaction, the insider owned 115,474 shares of the company’s stock, valued at $5,075,082.30. The trade was a 2.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth E. Reed sold 2,076 shares of Travere Therapeutics stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $43.95, for a total value of $91,240.20. Following the transaction, the insider directly owned 105,211 shares in the company, valued at approximately $4,624,023.45. The trade was a 1.93% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders have sold 400,015 shares of company stock valued at $15,895,428. Company insiders own 4.44% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. State of Wyoming purchased a new position in shares of Travere Therapeutics during the fourth quarter valued at approximately $37,000. Torren Management LLC purchased a new position in shares of Travere Therapeutics during the fourth quarter valued at approximately $38,000. Comerica Bank boosted its position in shares of Travere Therapeutics by 77.5% during the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after buying an additional 492 shares during the last quarter. Fifth Third Bancorp purchased a new position in shares of Travere Therapeutics during the first quarter valued at approximately $35,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Travere Therapeutics by 69.0% during the fourth 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 during the last quarter.

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.