Cantor Fitzgerald Reaffirms Overweight Rating for Travere Therapeutics (NASDAQ:TVTX)

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

TVTX has been the topic of several other research reports. Citigroup lifted their price target on Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Scotiabank raised their price target on shares of Travere Therapeutics from $27.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, February 12th. HC Wainwright increased their target price 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. Canaccord Genuity Group lifted their price target on shares of Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Evercore ISI increased their price objective on shares of Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.46.

Travere Therapeutics Stock Down 10.6 %

Shares of TVTX traded down $1.89 on Thursday, hitting $16.05. The company’s stock had a trading volume of 627,632 shares, compared to its average volume of 1,483,641. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -3.90 and a beta of 0.75. The firm’s fifty day moving average price is $20.68 and its 200-day moving average price is $18.59. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $25.29.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.15). Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The company had revenue of $74.79 million during the quarter, compared to analyst estimates of $72.38 million. On average, equities research analysts expect that Travere Therapeutics will post -1.4 EPS for the current year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, insider Jula Inrig sold 2,066 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $19.10, for a total value of $39,460.60. Following the transaction, the insider now directly owns 59,883 shares in the company, valued at $1,143,765.30. The trade was a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sandra Calvin sold 54,244 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the sale, the chief accounting officer now owns 54,410 shares of the company’s stock, valued at approximately $1,360,250. This represents a 49.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,335 shares of company stock worth $4,194,712 over the last 90 days. Company insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TVTX. Driehaus Capital Management LLC lifted its holdings in Travere Therapeutics by 608.1% during the 4th quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company’s stock worth $38,637,000 after purchasing an additional 1,904,733 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Travere Therapeutics during the fourth quarter worth about $21,075,000. RA Capital Management L.P. acquired a new stake in Travere Therapeutics in the 4th quarter worth about $20,033,000. Jennison Associates LLC acquired a new stake in Travere Therapeutics in the 4th quarter worth about $14,222,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in 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 period.

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.