Wedbush Boosts Earnings Estimates for Travere Therapeutics

Travere Therapeutics, Inc. (NASDAQ:TVTX) – Equities research analysts at Wedbush upped their FY2024 earnings per share (EPS) estimates for Travere Therapeutics in a note issued to investors on Thursday, January 23rd. Wedbush analyst L. Chico now anticipates that the company will post earnings per share of ($3.84) for the year, up from their previous forecast of ($3.89). Wedbush has a “Outperform” rating and a $25.00 price target 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 announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $60.87 million. During the same quarter last year, the firm posted ($1.17) EPS. The company’s quarterly revenue was up 69.6% on a year-over-year basis.

TVTX has been the subject of several other reports. Cantor Fitzgerald assumed coverage on Travere Therapeutics in a research note on Friday, January 10th. They issued an “overweight” rating for the company. Leerink Partners reissued an “outperform” rating and issued a $20.00 price objective on shares of Travere Therapeutics in a research note on Tuesday, October 8th. Bank of America upped 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. Wells Fargo & Company raised shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $9.00 to $27.00 in a research report on Monday, October 21st. Finally, Canaccord Genuity Group decreased their price target on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, September 30th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Travere Therapeutics Trading Down 0.9 %

TVTX opened at $20.13 on Monday. The company has a fifty day moving average price of $18.39 and a two-hundred day moving average price of $15.02. Travere Therapeutics has a 1-year low of $5.12 and a 1-year high of $21.56. The company has a market cap of $1.57 billion, a P/E ratio of -4.42 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.

Insiders Place Their Bets

In related news, Director Roy D. Baynes sold 16,000 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $20.00, for a total transaction of $320,000.00. Following the completion of the sale, the director now owns 31,000 shares in the company, valued at approximately $620,000. This trade represents a 34.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Peter Heerma sold 1,584 shares of Travere Therapeutics stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total transaction of $30,000.96. Following the completion of the sale, the insider now directly owns 106,374 shares in the company, valued at approximately $2,014,723.56. This represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,143 shares of company stock valued at $1,167,512. Corporate insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Large investors have recently modified their holdings of the stock. Jennison Associates LLC bought a new position in Travere Therapeutics during the fourth quarter valued at $14,222,000. Millennium Management LLC lifted its position in shares of Travere Therapeutics by 33.9% during the 2nd 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 last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Travere Therapeutics by 203.0% during 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 acquiring an additional 412,000 shares during the period. abrdn plc bought a new position in shares of Travere Therapeutics during the 4th quarter worth $6,829,000. Finally, Emerald Advisers LLC increased its holdings in 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 acquiring an additional 323,513 shares during the last quarter.

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.