Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives $15.58 Consensus Target Price from Analysts

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have been given an average recommendation of “Moderate Buy” by the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $15.58.

Several research firms have commented on TVTX. Guggenheim reissued a “neutral” rating on shares of Travere Therapeutics in a research report on Wednesday, March 27th. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Travere Therapeutics in a report on Wednesday, April 17th. Canaccord Genuity Group increased their price objective on Travere Therapeutics from $15.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Finally, HC Wainwright restated a “buy” rating and set a $19.00 target price on shares of Travere Therapeutics in a research note on Tuesday, May 7th.

Travere Therapeutics Stock Performance

Shares of NASDAQ:TVTX opened at $9.80 on Monday. The firm has a 50 day moving average of $7.38 and a 200 day moving average of $7.69. The company has a debt-to-equity ratio of 5.10, a current ratio of 2.78 and a quick ratio of 2.75. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $17.57.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Monday, May 6th. The company reported ($1.76) EPS for the quarter, missing the consensus estimate of ($0.98) by ($0.78). The company had revenue of $41.40 million during the quarter, compared to the consensus estimate of $43.46 million. Travere Therapeutics had a negative return on equity of 238.06% and a negative net margin of 87.94%. The company’s revenue was up 34.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.27) earnings per share. Equities research analysts predict that Travere Therapeutics will post -3.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. ProShare Advisors LLC increased its holdings in Travere Therapeutics by 9.2% in the 1st quarter. ProShare Advisors LLC now owns 18,421 shares of the company’s stock worth $142,000 after buying an additional 1,557 shares during the period. Arizona State Retirement System increased its stake in shares of Travere Therapeutics by 9.7% in the fourth quarter. Arizona State Retirement System now owns 20,969 shares of the company’s stock worth $189,000 after acquiring an additional 1,851 shares during the period. Signaturefd LLC raised its holdings in shares of Travere Therapeutics by 1,656.4% during the fourth quarter. Signaturefd LLC now owns 3,021 shares of the company’s stock worth $27,000 after purchasing an additional 2,849 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Travere Therapeutics by 10.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,009 shares of the company’s stock valued at $240,000 after purchasing an additional 2,948 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Travere Therapeutics by 7.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,424 shares of the company’s stock valued at $417,000 after purchasing an additional 3,083 shares during the period.

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.