Zacks: Brokerages Expect Travere Therapeutics, Inc. (NASDAQ:TVTX) to Post -$0.73 EPS

Equities analysts predict that Travere Therapeutics, Inc. (NASDAQ:TVTX) will post earnings of ($0.73) per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Travere Therapeutics’ earnings. The highest EPS estimate is ($0.68) and the lowest is ($0.79). Travere Therapeutics posted earnings per share of ($0.58) during the same quarter last year, which suggests a negative year over year growth rate of 25.9%. The business is scheduled to report its next earnings report on Thursday, July 29th.

On average, analysts expect that Travere Therapeutics will report full year earnings of ($3.19) per share for the current year, with EPS estimates ranging from ($3.45) to ($2.87). For the next year, analysts expect that the business will report earnings of ($3.15) per share, with EPS estimates ranging from ($3.64) to ($2.00). Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Travere Therapeutics.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, May 6th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.40). Travere Therapeutics had a negative return on equity of 75.08% and a negative net margin of 113.21%. The firm had revenue of $47.41 million for the quarter, compared to analyst estimates of $49.99 million.

Several analysts have commented on TVTX shares. Evercore ISI lowered their price target on Travere Therapeutics from $30.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, May 26th. Barclays reduced their price target on Travere Therapeutics from $40.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 26th. Canaccord Genuity reduced their price target on Travere Therapeutics from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, May 24th. Zacks Investment Research lowered Travere Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 15th. Finally, TheStreet lowered Travere Therapeutics from a “c-” rating to a “d” rating in a research report on Monday, March 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $32.71.

TVTX traded up $0.47 during midday trading on Friday, hitting $15.07. The company’s stock had a trading volume of 41,515 shares, compared to its average volume of 666,672. The company has a current ratio of 6.65, a quick ratio of 6.56 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $911.10 million, a price-to-earnings ratio of -3.36 and a beta of 0.66. The firm has a 50-day simple moving average of $20.92. Travere Therapeutics has a 52-week low of $13.85 and a 52-week high of $33.09.

In related news, CEO Eric M. Dube sold 9,562 shares of the company’s stock in a transaction that occurred on Wednesday, June 2nd. The stock was sold at an average price of $14.62, for a total transaction of $139,796.44. Also, Director Steve Aselage sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, April 16th. The shares were sold at an average price of $26.23, for a total value of $262,300.00. Following the sale, the director now directly owns 198,940 shares in the company, valued at $5,218,196.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,289 shares of company stock worth $888,525. Corporate insiders own 4.31% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of TVTX. BlackRock Inc. bought a new position in Travere Therapeutics during the 4th quarter worth $131,510,000. Janus Henderson Group PLC bought a new position in Travere Therapeutics during the 4th quarter worth $111,297,000. Armistice Capital LLC bought a new position in Travere Therapeutics during the 1st quarter worth $58,829,000. The Manufacturers Life Insurance Company bought a new position in Travere Therapeutics during the 4th quarter worth $59,603,000. Finally, Renaissance Technologies LLC bought a new position in Travere Therapeutics during the 4th quarter worth $50,733,000.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc is a biopharmaceutical company. It engages in the identification, development, commercialization, and distribution of therapies to people living with rare diseases. The firm’s products include Chenodal, Cholbam, and Thiola. The company was founded by Martin Shkreli on February 8, 2008 and is headquartered in San Diego, CA.

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Earnings History and Estimates for Travere Therapeutics (NASDAQ:TVTX)

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