Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have earned a consensus rating of “Moderate Buy” from the fourteen brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $29.00.

Several research analysts have recently weighed in on the stock. Barclays boosted their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of Travere Therapeutics in a research report on Friday. Citigroup boosted their price target on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Monday. HC Wainwright boosted their price target on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Finally, Canaccord Genuity Group upped their target price on shares of Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th.

Insider Activity

In other news, CAO Sandra Calvin sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $17.22, for a total value of $258,300.00. Following the completion of the transaction, the chief accounting officer now owns 54,927 shares of the company’s stock, valued at approximately $945,842.94. This trade represents a 21.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP William E. Rote sold 2,437 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total transaction of $47,424.02. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 206,335 shares of company stock valued at $4,453,012. 3.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new position in shares of Travere Therapeutics in the fourth quarter valued at approximately $31,000. Sterling Capital Management LLC boosted its stake in shares of Travere Therapeutics by 859.8% in the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock valued at $41,000 after purchasing an additional 2,115 shares during the period. R Squared Ltd purchased a new position in Travere Therapeutics in the fourth quarter worth approximately $53,000. CWM LLC lifted its stake in Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after acquiring an additional 3,065 shares during the last quarter. Finally, Gen Wealth Partners Inc purchased a new position in Travere Therapeutics in the fourth quarter worth approximately $73,000.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $21.23 on Tuesday. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $25.29. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -5.18 and a beta of 0.72. The company has a fifty day simple moving average of $19.75 and a 200-day simple moving average of $16.77. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last announced 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). The firm had revenue of $74.79 million for the quarter, compared to analyst estimates of $72.38 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. On average, equities analysts anticipate that Travere Therapeutics will post -1.4 EPS for the current fiscal year.

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.