Travere Therapeutics (NASDAQ:TVTX) Earns Overweight Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Travere Therapeutics (NASDAQ:TVTX) in a report issued on Friday morning, MarketBeat Ratings reports. The firm issued an overweight rating on the stock.

TVTX has been the topic of a number of other research reports. HC Wainwright dropped their price target on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $9.00 to $27.00 in a report on Monday, October 21st. Bank of America boosted their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Piper Sandler increased their price objective on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, Scotiabank boosted their price objective on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.67.

Travere Therapeutics Price Performance

TVTX opened at $18.09 on Friday. The business has a fifty day moving average of $18.21 and a 200 day moving average of $14.21. The stock has a market cap of $1.41 billion, a P/E ratio of -3.98 and a beta of 0.70. 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 has a 52-week low of $5.12 and a 52-week high of $20.33.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The business had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. During the same period last year, the company posted ($1.17) earnings per share. The company’s quarterly revenue was up 69.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Travere Therapeutics will post -3.94 EPS for the current year.

Insider Activity

In related news, insider Jula Inrig sold 2,066 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 59,883 shares of the company’s stock, valued at $1,143,765.30. This trade represents a 3.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sandra Calvin sold 12,090 shares of Travere Therapeutics stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $18.30, for a total transaction of $221,247.00. Following the completion of the sale, the chief accounting officer now owns 54,927 shares of the company’s stock, valued at $1,005,164.10. This trade represents a 18.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,596 shares of company stock worth $527,262. Insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Large investors have recently made changes to their positions in the stock. CWM LLC lifted its position in Travere Therapeutics by 158.5% during the 3rd 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 period. DRW Securities LLC acquired a new stake in shares of Travere Therapeutics during the second quarter worth about $95,000. Quarry LP acquired a new stake in shares of Travere Therapeutics during the third quarter worth about $105,000. Forefront Analytics LLC boosted its position in Travere Therapeutics by 10.2% in the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after buying an additional 1,237 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in Travere Therapeutics in the 2nd quarter worth approximately $117,000.

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.