Wedbush Equities Analysts Lift Earnings Estimates for TVTX

Travere Therapeutics, Inc. (NASDAQ:TVTX) – Investment analysts at Wedbush raised their FY2024 earnings estimates for Travere Therapeutics in a research report issued on Thursday, January 23rd. Wedbush analyst L. Chico now expects that the company will earn ($3.84) per share for the year, up from their prior forecast of ($3.89). 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. Wedbush also issued estimates for Travere Therapeutics’ Q4 2024 earnings at ($0.47) EPS, Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.18) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at $0.15 EPS, FY2025 earnings at ($0.49) EPS, FY2026 earnings at $1.45 EPS, FY2027 earnings at $3.27 EPS and FY2029 earnings at $5.46 EPS.

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

Several other equities research analysts have also commented on the company. Piper Sandler upped their price objective on Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Canaccord Genuity Group lowered their price objective on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Guggenheim increased their target price on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. HC Wainwright lifted their price target on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Finally, Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Travere Therapeutics Trading Down 2.4 %

NASDAQ:TVTX opened at $20.31 on Monday. The company has a market cap of $1.59 billion, a PE ratio of -4.46 and a beta of 0.70. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The company has a 50 day simple moving average of $18.33 and a two-hundred day simple moving average of $14.95. Travere Therapeutics has a 12 month low of $5.12 and a 12 month high of $21.56.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 10,736 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total transaction of $208,922.56. Following the completion of the transaction, the chief executive officer now owns 351,239 shares in the company, valued at $6,835,110.94. This trade represents a 2.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Roy D. Baynes sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $20.00, for a total value of $320,000.00. Following the sale, the director now directly owns 31,000 shares in the company, valued at $620,000. This trade represents a 34.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,143 shares of company stock worth $1,167,512. Insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in TVTX. Sei Investments Co. purchased a new stake in shares of Travere Therapeutics during the 2nd quarter valued at about $117,000. Bank of Montreal Can purchased a new position in Travere Therapeutics in the second quarter worth about $625,000. AQR Capital Management LLC increased its stake in Travere Therapeutics by 55.7% during the second quarter. AQR Capital Management LLC now owns 74,069 shares of the company’s stock worth $609,000 after acquiring an additional 26,485 shares during the last quarter. Millennium Management LLC raised its position in Travere Therapeutics by 33.9% during the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after purchasing an additional 747,406 shares during the period. Finally, Forefront Analytics LLC lifted its stake in shares of Travere Therapeutics by 10.2% in the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after purchasing an additional 1,237 shares during the last quarter.

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.