Travere Therapeutics (NASDAQ:TVTX) Hits New 12-Month High – Should You Buy?

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $20.33 and last traded at $20.19, with a volume of 864715 shares traded. The stock had previously closed at $19.46.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TVTX shares. Scotiabank raised their price target on Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. Barclays raised their price target on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Wedbush raised their price target on Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Leerink Partners restated an “outperform” rating and set a $20.00 price target on shares of Travere Therapeutics in a research note on Tuesday, October 8th. Finally, Cantor Fitzgerald started coverage on Travere Therapeutics in a research note on Friday, January 10th. They set an “overweight” rating on the stock. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Travere Therapeutics Stock Performance

The stock has a 50 day moving average of $18.33 and a two-hundred day moving average of $14.87. The stock has a market capitalization of $1.59 billion, a PE ratio of -4.46 and a beta of 0.70. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.01. The firm had revenue of $62.90 million during the quarter, compared to analysts’ expectations of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. Travere Therapeutics’s revenue was up 69.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.17) earnings per share. Research analysts expect that Travere Therapeutics, Inc. will post -3.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Travere Therapeutics news, insider Jula Inrig sold 2,066 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $19.10, for a total transaction of $39,460.60. Following the completion of the sale, the insider now 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sandra Calvin sold 15,000 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $17.22, for a total value of $258,300.00. Following the sale, the chief accounting officer now directly owns 54,927 shares of the company’s stock, valued at approximately $945,842.94. This trade represents a 21.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,143 shares of company stock valued at $1,167,512. 3.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. R Squared Ltd purchased a new stake in shares of Travere Therapeutics in the fourth quarter worth about $53,000. CWM LLC boosted its position in shares of Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after buying an additional 3,065 shares during the period. Quarry LP acquired a new position in shares of Travere Therapeutics in the third quarter worth about $105,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Travere Therapeutics in the fourth quarter worth about $192,000. Finally, Diversified Trust Co acquired a new position in shares of Travere Therapeutics in the third quarter worth about $161,000.

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.