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

Travere Therapeutics, Inc. (NASDAQ:TVTX) has earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $19.75.

Several research analysts have commented on the stock. Piper Sandler boosted their price objective on shares of Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Citigroup dropped their price objective on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Guggenheim raised their price objective on Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Canaccord Genuity Group lowered their target price on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Wedbush raised their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th.

Insiders Place Their Bets

In other news, Director Gary A. Lyons sold 40,000 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $14.73, for a total transaction of $589,200.00. Following the completion of the transaction, the director now owns 51,000 shares of the company’s stock, valued at approximately $751,230. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Gary A. Lyons sold 40,000 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $14.73, for a total value of $589,200.00. Following the sale, the director now owns 51,000 shares of the company’s stock, valued at $751,230. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP William E. Rote sold 4,387 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $50,538.24. Following the completion of the sale, the senior vice president now owns 84,455 shares of the company’s stock, valued at $972,921.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,707 shares of company stock valued at $1,504,312 in the last ninety days. 3.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. raised its holdings in Travere Therapeutics by 912.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock worth $18,200,000 after purchasing an additional 1,995,419 shares during the last quarter. Vanguard Group Inc. raised its stake in Travere Therapeutics by 13.6% during the first quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock worth $48,310,000 after buying an additional 750,686 shares during the last quarter. Millennium Management LLC lifted its holdings in Travere Therapeutics by 33.9% in the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after buying an additional 747,406 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Travere Therapeutics by 203.0% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock valued at $5,055,000 after acquiring an additional 412,000 shares during the last quarter. Finally, Affinity Asset Advisors LLC acquired a new stake in Travere Therapeutics during the 1st quarter worth about $964,000.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $17.69 on Wednesday. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -8.42 and a beta of 0.73. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $18.60. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. The stock has a fifty day moving average price of $12.13 and a 200-day moving average price of $9.12.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The firm had revenue of $54.12 million for the quarter, compared to the consensus estimate of $49.50 million. As a group, equities analysts anticipate that Travere Therapeutics will post -3.95 EPS for the current fiscal year.

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.