Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have been assigned a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating and eleven have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $72.55.

A number of brokerages have issued reports on TVTX. Canaccord Genuity Group upped their target price on Travere Therapeutics from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, November 4th. Evercore set a $78.00 price objective on Travere Therapeutics in a research report on Monday, August 10th. JPMorgan Chase & Co. decreased their target price on shares of Travere Therapeutics from $90.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday. Guggenheim dropped their price objective on Travere Therapeutics from $89.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, November 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $67.00 target price on shares of Travere Therapeutics in a research note on Tuesday, September 22nd.

Travere Therapeutics Trading Up 4.1%

NASDAQ:TVTX opened at $51.63 on Thursday. The stock has a market cap of $4.96 billion, a PE ratio of -40.02 and a beta of 1.11. The company has a debt-to-equity ratio of 26.72, a current ratio of 3.00 and a quick ratio of 3.99. The stock’s 50-day moving average is $57.12 and its two-hundred day moving average is $47.12. Travere Therapeutics has a fifty-two week low of $22.59 and a fifty-two week high of $68.73.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Monday, November 2nd. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.49). The firm had revenue of $224.56 million during the quarter, compared to analyst estimates of $195.29 million. Travere Therapeutics had a negative return on equity of 185.69% and a negative net margin of 18.66%. The business’s revenue for the quarter was up 36.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 earnings per share. As a group, equities research analysts forecast that Travere Therapeutics will post -0.90 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider William Rote sold 112,850 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $63.33, for a total value of $7,146,790.50. Following the completion of the sale, the insider directly owned 98,197 shares of the company’s stock, valued at $6,218,816.01. This represents a 53.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jula Inrig sold 44,674 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $62.34, for a total value of $2,784,977.16. Following the sale, the executive vice president directly owned 100,491 shares in the company, valued at approximately $6,264,608.94. This represents a 30.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,294,029 shares of company stock valued at $79,454,261 in the last ninety days. 4.44% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TVTX. GAMMA Investing LLC raised its position in shares of Travere Therapeutics by 53.4% in the second quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after buying an additional 211 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in Travere Therapeutics in the third quarter valued at about $37,000. Corient Private Wealth LP grew its holdings in shares of Travere Therapeutics by 1.4% during the 2nd quarter. Corient Private Wealth LP now owns 48,125 shares of the company’s stock valued at $2,734,000 after purchasing an additional 648 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Travere Therapeutics by 98.7% during the third quarter. Allworth Financial LP now owns 1,657 shares of the company’s stock worth $94,000 after buying an additional 823 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Travere Therapeutics by 0.6% in the 1st quarter. Swiss National Bank now owns 168,100 shares of the company’s stock worth $4,994,000 after purchasing an additional 1,000 shares in the last quarter.

About Travere Therapeutics

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, with an emphasis on kidney and metabolic disorders. The company was formerly known as Retrophin and adopted the Travere Therapeutics name in 2020.

Its commercial products include FILSPARI (sparsentan), an oral treatment approved in the United States for adults with primary IgA nephropathy at risk of disease progression, and THIOLA EC (tiopronin), used to help prevent cystine kidney stones in people with cystinuria.