Wedbush Lowers Earnings Estimates for Travere Therapeutics

Travere Therapeutics, Inc. (NASDAQ:TVTX) – Investment analysts at Wedbush decreased their FY2028 earnings per share estimates for shares of Travere Therapeutics in a research note issued to investors on Thursday, January 23rd. Wedbush analyst L. Chico now expects that the company will earn $3.79 per share for the year, down from their prior estimate of $3.91. Wedbush currently has a “Outperform” rating and a $25.00 target price on the stock. The consensus estimate for Travere Therapeutics’ current full-year earnings is ($3.92) per share.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.01. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The company had revenue of $62.90 million during the quarter, compared to analysts’ expectations of $60.87 million. During the same period in the prior year, the company earned ($1.17) EPS. Travere Therapeutics’s revenue was up 69.6% compared to the same quarter last year.

TVTX has been the subject of several other reports. Barclays raised their target price on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Scotiabank raised their target price on Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. Bank of America raised their target price on Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Leerink Partners reaffirmed an “outperform” rating and set a $20.00 target price on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Travere Therapeutics Stock Down 2.4 %

Shares of TVTX opened at $20.31 on Friday. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $21.56. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -4.46 and a beta of 0.70. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The stock has a fifty day moving average of $18.33 and a 200-day moving average of $14.91.

Insider Activity

In other news, CAO Sandra Calvin sold 12,090 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $18.30, for a total value of $221,247.00. Following the completion of the sale, the chief accounting officer now directly owns 54,927 shares in the company, valued at $1,005,164.10. This trade represents a 18.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jula Inrig sold 2,066 shares of Travere Therapeutics stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders sold a total of 62,143 shares of company stock worth $1,167,512 in the last three months. Company insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Several hedge funds have recently modified their holdings of TVTX. Jennison Associates LLC bought a new position in shares of Travere Therapeutics during the 4th quarter worth approximately $14,222,000. Millennium Management LLC raised its holdings in shares of Travere Therapeutics by 33.9% in the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after purchasing an additional 747,406 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Travere Therapeutics by 203.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock worth $5,055,000 after purchasing an additional 412,000 shares during the period. abrdn plc bought a new stake in shares of Travere Therapeutics in the 4th quarter worth approximately $6,829,000. Finally, Emerald Advisers LLC raised its holdings in shares of Travere Therapeutics by 19.8% in the 3rd quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock worth $27,430,000 after purchasing an additional 323,513 shares during the period.

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.