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

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have received an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $20.00.

TVTX has been the topic of several analyst reports. Citigroup dropped their target price on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Bank of America lifted their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Canaccord Genuity Group lowered their price target on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Wedbush lifted their price objective on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, HC Wainwright lowered their target price on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, September 27th.

Insider Buying and Selling at Travere Therapeutics

In related news, CEO Eric M. Dube sold 21,125 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the completion of the sale, the chief executive officer now owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Eric M. Dube sold 21,125 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP William E. Rote sold 4,387 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 transaction of $50,538.24. Following the sale, the senior vice president now directly owns 84,455 shares in the company, valued at approximately $972,921.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,707 shares of company stock worth $1,504,312. Corporate insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in Travere Therapeutics during the fourth quarter worth about $175,000. Los Angeles Capital Management LLC purchased a new stake in shares of Travere Therapeutics during the first quarter worth approximately $720,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Travere Therapeutics by 14.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 40,790 shares of the company’s stock valued at $314,000 after purchasing an additional 5,123 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Travere Therapeutics by 68.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock valued at $113,000 after buying an additional 5,962 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Travere Therapeutics by 8.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,178 shares of the company’s stock worth $387,000 after acquiring an additional 3,754 shares in the last quarter.

Travere Therapeutics Stock Performance

Shares of NASDAQ TVTX opened at $17.87 on Wednesday. The company has a 50 day simple moving average of $12.71 and a two-hundred day simple moving average of $9.35. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -8.51 and a beta of 0.73. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a 12 month low of $5.12 and a 12 month high of $18.82.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The business had revenue of $54.12 million during the quarter, compared to analysts’ expectations of $49.50 million. Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. As a group, analysts predict that Travere Therapeutics will post -3.95 earnings per share for the current year.

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.