Travere Therapeutics (NASDAQ:TVTX) Coverage Initiated by Analysts at Cantor Fitzgerald

Equities researchers at Cantor Fitzgerald assumed coverage on shares of Travere Therapeutics (NASDAQ:TVTX) in a research note issued on Friday, MarketBeat Ratings reports. The brokerage set an “overweight” rating on the stock.

Several other brokerages also recently commented on TVTX. Barclays increased their price target on Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Citigroup cut 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. Leerink Partners reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Travere Therapeutics in a report on Tuesday, October 8th. HC Wainwright cut their price target on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a report on Friday, September 27th. Finally, Scotiabank raised their price objective 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. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Travere Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $23.67.

Travere Therapeutics Price Performance

TVTX opened at $18.09 on Friday. The stock has a fifty day moving average price of $18.21 and a 200 day moving average price of $14.17. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $20.33. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -3.98 and a beta of 0.70.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The company had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. During the same quarter in the prior year, the business posted ($1.17) EPS. Travere Therapeutics’s quarterly revenue was up 69.6% on a year-over-year basis. Analysts forecast that Travere Therapeutics will post -3.94 EPS for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, insider Jula Inrig sold 2,066 shares of Travere Therapeutics stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $19.10, for a total transaction of $39,460.60. Following the sale, the insider now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sandra Calvin sold 12,090 shares of the stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 54,927 shares of the company’s stock, valued at approximately $1,005,164.10. The trade was a 18.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,596 shares of company stock valued at $527,262 in the last 90 days. 3.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TVTX. CWM LLC boosted its position in Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after buying an additional 3,065 shares in the last quarter. DRW Securities LLC bought a new stake in Travere Therapeutics during the 2nd quarter worth approximately $95,000. Quarry LP acquired a new stake in Travere Therapeutics during the 3rd quarter valued at $105,000. Forefront Analytics LLC raised its position in 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. Finally, Sei Investments Co. acquired a new position in Travere Therapeutics in the second quarter worth $117,000.

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.