Travere Therapeutics (NASDAQ:TVTX) Rating Reiterated by Leerink Partners

Leerink Partners reiterated their outperform rating on shares of Travere Therapeutics (NASDAQ:TVTX) in a research note published on Tuesday morning, Benzinga reports. The firm currently has a $20.00 price objective on the stock.

A number of other research firms have also recently commented on TVTX. Piper Sandler lifted their price target on shares of Travere Therapeutics from $11.00 to $12.00 and gave the stock a neutral rating in a research note on Friday, August 2nd. Guggenheim dropped their target price on Travere Therapeutics from $25.00 to $23.00 and set a buy rating for the company in a research report on Friday, September 27th. HC Wainwright reduced their price target on Travere Therapeutics from $23.00 to $18.00 and set a buy rating on the stock in a report on Friday, September 27th. Canaccord Genuity Group dropped their price objective on Travere Therapeutics from $23.00 to $22.00 and set a buy rating for the company in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. increased their target price on Travere Therapeutics from $20.00 to $23.00 and gave the stock an overweight rating in a research note on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $19.75.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock opened at $16.41 on Tuesday. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -8.73 and a beta of 0.73. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. The stock has a 50 day moving average price of $11.78 and a 200-day moving average price of $8.96. Travere Therapeutics has a one year low of $5.12 and a one year high of $18.60.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $49.50 million. Equities analysts expect that Travere Therapeutics will post -3.95 EPS for the current year.

Insider Activity

In other Travere Therapeutics 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 transaction, the chief executive officer now owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP William E. Rote sold 4,387 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $50,538.24. Following the completion of the transaction, the senior vice president now directly owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $243,360.00. Following the sale, the chief executive officer now directly owns 361,975 shares in the company, valued at approximately $4,169,952. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,707 shares of company stock worth $1,504,312. Company insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Travere Therapeutics by 13.6% during the first quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock worth $48,310,000 after purchasing an additional 750,686 shares in the last quarter. Millennium Management LLC increased its position in Travere Therapeutics by 33.9% during the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after buying an additional 747,406 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Travere Therapeutics by 912.5% in the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock valued at $18,200,000 after buying an additional 1,995,419 shares during the last quarter. Parkman Healthcare Partners LLC raised its stake in Travere Therapeutics by 76.4% in the fourth quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock valued at $9,159,000 after buying an additional 441,318 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Travere Therapeutics in the fourth quarter worth about $5,711,000.

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.