Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been given a consensus rating of “Moderate Buy” by the eleven analysts that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $16.82.

Several research analysts recently commented on the stock. Guggenheim dropped their target price on shares of Travere Therapeutics from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Friday. Piper Sandler increased their target price on Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Citigroup lowered 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. JPMorgan Chase & Co. upped their price target on Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Finally, HC Wainwright lowered their price objective 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.

Insider Activity

In related news, CEO Eric M. Dube sold 21,125 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $243,360.00. Following the completion of the transaction, the chief executive officer now owns 361,975 shares in the company, valued at approximately $4,169,952. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $243,360.00. Following the completion of the transaction, the chief executive officer now directly owns 361,975 shares in the company, valued at $4,169,952. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jula Inrig sold 2,191 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $25,240.32. Following the completion of the sale, the insider now owns 62,633 shares in the company, valued at approximately $721,532.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,707 shares of company stock worth $352,712. Company insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. EntryPoint Capital LLC acquired a new stake in Travere Therapeutics during the 1st quarter valued at $32,000. DRW Securities LLC bought a new stake in shares of Travere Therapeutics during the second quarter worth $95,000. Forefront Analytics LLC increased its stake in shares of Travere Therapeutics by 10.2% in the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after buying an additional 1,237 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Travere Therapeutics by 68.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock worth $113,000 after buying an additional 5,962 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in Travere Therapeutics during the 2nd quarter worth about $117,000.

Travere Therapeutics Price Performance

NASDAQ TVTX opened at $14.01 on Friday. The firm has a market cap of $1.07 billion, a P/E ratio of -6.67 and a beta of 0.71. The stock’s 50-day moving average is $10.66 and its two-hundred day moving average is $8.44. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $15.36. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99.

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