Travere Therapeutics, Inc. (NASDAQ:TVTX) Given Average Recommendation of “Moderate Buy” by Analysts

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been given a consensus recommendation of “Moderate Buy” by the thirteen analysts that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $22.62.

A number of analysts recently weighed in on TVTX shares. Barclays raised their target price 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. HC Wainwright reduced their target price on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a report on Friday, September 27th. Piper Sandler raised their target price on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday. Citigroup reduced their target price 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. Finally, Scotiabank raised their target price on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st.

Travere Therapeutics Price Performance

TVTX opened at $18.47 on Friday. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -4.06 and a beta of 0.70. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $20.33. The company’s 50-day moving average price is $16.14 and its 200 day moving average price is $10.88. 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 (NASDAQ:TVTX) last announced its quarterly earnings results 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 analyst estimates of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. Travere Therapeutics’s revenue was up 69.6% compared to the same quarter last year. During the same quarter last year, the business earned ($1.17) earnings per share. As a group, sell-side analysts expect that Travere Therapeutics will post -3.93 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Gary A. Lyons sold 40,000 shares of Travere Therapeutics stock in a transaction that occurred on Friday, October 4th. The stock was 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 approximately $751,230. This trade represents a 43.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $243,360.00. Following the completion of the sale, the chief executive officer now directly owns 361,975 shares in the company, valued at approximately $4,169,952. This represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,707 shares of company stock worth $1,504,312. Insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Travere Therapeutics by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock worth $48,310,000 after acquiring an additional 750,686 shares during the period. Millennium Management LLC boosted its stake in Travere Therapeutics by 33.9% in the 2nd 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. Assenagon Asset Management S.A. boosted its stake in Travere Therapeutics by 912.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock valued at $18,200,000 after purchasing an additional 1,995,419 shares during the period. Emerald Advisers LLC boosted its stake in Travere Therapeutics by 19.8% in the 3rd quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock valued at $27,430,000 after purchasing an additional 323,513 shares during the period. Finally, Finepoint Capital LP boosted its stake in Travere Therapeutics by 0.3% in the 3rd quarter. Finepoint Capital LP now owns 1,782,267 shares of the company’s stock valued at $24,934,000 after purchasing an additional 5,539 shares during the period.

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.