Travere Therapeutics (NASDAQ:TVTX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Travere Therapeutics (NASDAQ:TVTX) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Several other analysts also recently issued reports on the company. Citigroup restated a “buy” rating on shares of Travere Therapeutics in a report on Sunday, August 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Saturday, September 27th. Wedbush boosted their price target on shares of Travere Therapeutics from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Stifel Nicolaus upped their price target on shares of Travere Therapeutics from $20.00 to $25.00 and gave the company a “hold” rating in a research report on Friday, September 12th. Finally, Jefferies Financial Group set a $35.00 price objective on shares of Travere Therapeutics in a research note on Wednesday, September 10th. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Travere Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $34.20.

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX opened at $26.13 on Friday. The company has a market capitalization of $2.33 billion, a PE ratio of -12.81 and a beta of 0.83. The company has a debt-to-equity ratio of 9.50, a quick ratio of 1.98 and a current ratio of 2.00. The stock has a fifty day moving average of $20.40 and a 200-day moving average of $17.89. Travere Therapeutics has a one year low of $12.91 and a one year high of $28.69.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.14. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The business had revenue of $94.84 million for the quarter, compared to analysts’ expectations of $100.18 million. During the same period in the previous year, the firm posted ($0.65) EPS. The company’s quarterly revenue was up 111.5% on a year-over-year basis. As a group, equities analysts anticipate that Travere Therapeutics will post -1.4 EPS for the current fiscal year.

Insider Activity at Travere Therapeutics

In related news, insider Elizabeth E. Reed sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $25.00, for a total value of $250,000.00. Following the transaction, the insider directly owned 89,878 shares of the company’s stock, valued at approximately $2,246,950. This trade represents a 10.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 10,573 shares of company stock worth $260,608. Corporate insiders own 4.06% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Travere Therapeutics during the 2nd quarter worth $33,000. Caitong International Asset Management Co. Ltd bought a new stake in Travere Therapeutics during the first quarter valued at about $62,000. Headlands Technologies LLC acquired a new stake in shares of Travere Therapeutics in the second quarter valued at about $73,000. KBC Group NV acquired a new stake in shares of Travere Therapeutics in the first quarter valued at about $75,000. Finally, Atria Investments Inc bought a new position in shares of Travere Therapeutics in the second quarter worth about $154,000.

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.