FY2024 EPS Estimate for Travere Therapeutics Cut by Analyst

Travere Therapeutics, Inc. (NASDAQ:TVTX) – HC Wainwright lowered their FY2024 EPS estimates for Travere Therapeutics in a research note issued on Wednesday, January 15th. HC Wainwright analyst E. Arce now forecasts that the company will post earnings per share of ($3.96) for the year, down from their previous estimate of ($3.84). HC Wainwright currently has a “Buy” rating and a $22.00 price target on the stock. The consensus estimate for Travere Therapeutics’ current full-year earnings is ($3.92) per share. HC Wainwright also issued estimates for Travere Therapeutics’ Q4 2024 earnings at ($0.59) EPS, Q1 2025 earnings at ($0.43) EPS, Q2 2025 earnings at ($0.24) EPS, Q3 2025 earnings at ($0.20) EPS, Q4 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.90) EPS, FY2026 earnings at ($0.67) EPS, FY2027 earnings at $0.57 EPS and FY2028 earnings at $2.48 EPS.

A number of other brokerages have also recently commented on TVTX. Scotiabank raised their price target 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. Wedbush raised their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Bank of America raised their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Barclays raised their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Citigroup dropped their price objective on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Travere Therapeutics Stock Down 0.5 %

Shares of TVTX opened at $18.37 on Friday. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -4.04 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 12 month low of $5.12 and a 12 month high of $20.33. The company has a 50-day moving average price of $18.21 and a two-hundred day moving average price of $14.51.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.01. The business had revenue of $62.90 million during the quarter, compared to analysts’ expectations of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The firm’s revenue was up 69.6% on a year-over-year basis. During the same quarter last year, the company earned ($1.17) earnings per share.

Institutional Trading of Travere Therapeutics

Institutional investors have recently bought and sold shares of the business. CWM LLC grew its holdings 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 bought a new position in shares of Travere Therapeutics during the second quarter worth $95,000. Quarry LP bought a new position in shares of Travere Therapeutics during the third quarter worth $105,000. Forefront Analytics LLC boosted its position in shares of Travere Therapeutics by 10.2% during the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after purchasing an additional 1,237 shares in the last quarter. Finally, Sei Investments Co. bought a new position in shares of Travere Therapeutics during the second quarter worth $117,000.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, insider Jula Inrig sold 2,066 shares of Travere Therapeutics stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $19.10, for a total transaction of $39,460.60. Following the completion of the sale, the insider now owns 59,883 shares of the company’s stock, valued at approximately $1,143,765.30. The trade was a 3.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sandra Calvin sold 15,000 shares of Travere Therapeutics stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $17.22, for a total transaction of $258,300.00. Following the sale, the chief accounting officer now directly owns 54,927 shares of the company’s stock, valued at $945,842.94. This represents a 21.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,596 shares of company stock valued at $527,262 over the last quarter. Corporate insiders own 4.06% of the company’s stock.

Travere Therapeutics Company Profile

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.