Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives $52.08 Consensus Price Target from Analysts

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $52.5833.

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group upped their target price on shares of Travere Therapeutics from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday. TD Cowen lifted their price target on Travere Therapeutics from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Wall Street Zen lowered Travere Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Wells Fargo & Company upped their price objective on Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Finally, Wedbush increased their price objective on Travere Therapeutics from $55.00 to $61.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd.

Travere Therapeutics Stock Performance

Shares of TVTX opened at $55.89 on Tuesday. The firm has a market cap of $5.20 billion, a P/E ratio of -242.99 and a beta of 1.10. Travere Therapeutics has a twelve month low of $15.03 and a twelve month high of $60.10. The company has a debt-to-equity ratio of 3.16, a quick ratio of 3.08 and a current ratio of 3.13. The firm’s 50 day moving average price is $53.56 and its two-hundred day moving average price is $40.24.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.29. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The company had revenue of $127.20 million during the quarter, compared to the consensus estimate of $136.23 million. During the same quarter in the prior year, the firm earned ($0.47) earnings per share. The firm’s revenue was up 55.6% compared to the same quarter last year. On average, analysts forecast that Travere Therapeutics will post -0.56 EPS for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other news, 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 sale, the insider directly owned 105,211 shares in the company, valued at $4,624,023.45. This trade represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 William E. Rote sold 2,763 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 transaction of $121,433.85. Following the completion of the sale, the insider owned 115,474 shares in the company, valued at $5,075,082.30. This trade represents a 2.34% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 103,663 shares of company stock worth $4,730,462. Corporate insiders own 4.44% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in Travere Therapeutics in the 2nd quarter valued at $33,000. GAMMA Investing LLC boosted its stake in shares of Travere Therapeutics by 53.4% during the 2nd quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock worth $34,000 after buying an additional 211 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of Travere Therapeutics during the 1st quarter worth about $35,000. State of Wyoming bought a new position in shares of Travere Therapeutics in the 4th quarter valued at about $37,000. Finally, Torren Management LLC bought a new position in shares of Travere Therapeutics in the 4th quarter valued at about $38,000.

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.