Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives $21.85 Consensus Price Target from Analysts

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have been given an average recommendation of “Moderate Buy” by the thirteen analysts that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $22.62.

Several equities research analysts have recently issued reports on the company. Guggenheim raised their price objective on Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Canaccord Genuity Group decreased their price target on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Leerink Partners restated an “outperform” rating and set a $20.00 price objective on shares of Travere Therapeutics in a report on Tuesday, October 8th. Bank of America raised their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lifted their price target on Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, September 13th.

Travere Therapeutics Stock Performance

Shares of TVTX opened at $18.47 on Friday. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The business has a 50-day simple moving average of $16.14 and a two-hundred day simple moving average of $10.88. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -4.06 and a beta of 0.70. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $20.33.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results 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. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The firm had revenue of $62.90 million during the quarter, compared to analysts’ expectations of $60.87 million. During the same quarter last year, the business posted ($1.17) earnings per share. The firm’s revenue was up 69.6% on a year-over-year basis. On average, analysts expect that Travere Therapeutics will post -3.93 EPS for the current year.

Insider Activity at Travere Therapeutics

In other news, Director Gary A. Lyons sold 40,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $14.73, for a total transaction of $589,200.00. Following the completion of the sale, the director now owns 51,000 shares in the company, valued at approximately $751,230. This represents a 43.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric M. Dube sold 21,125 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $243,360.00. Following the sale, the chief executive officer now owns 361,975 shares of the company’s stock, valued at $4,169,952. This trade represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,707 shares of company stock valued at $1,504,312 over the last quarter. 3.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Bellevue Group AG purchased a new stake in Travere Therapeutics in the 3rd quarter worth approximately $434,000. PDT Partners LLC boosted its position in Travere Therapeutics by 10.7% during the 3rd quarter. PDT Partners LLC now owns 264,273 shares of the company’s stock worth $3,697,000 after purchasing an additional 25,490 shares during the period. Walleye Capital LLC boosted its position in Travere Therapeutics by 70.1% during the 3rd quarter. Walleye Capital LLC now owns 488,453 shares of the company’s stock worth $6,833,000 after purchasing an additional 201,282 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Travere Therapeutics by 20.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,969 shares of the company’s stock valued at $279,000 after buying an additional 3,458 shares during the last quarter. Finally, Acuta Capital Partners LLC purchased a new position in Travere Therapeutics in the 3rd quarter valued at about $266,000.

About Travere Therapeutics

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.