Wall Street Zen Downgrades Travere Therapeutics (NASDAQ:TVTX) to Hold

Travere Therapeutics (NASDAQ:TVTX) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

TVTX has been the subject of a number of other research reports. Citigroup reaffirmed a “buy” rating on shares of Travere Therapeutics in a report on Sunday, August 10th. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Travere Therapeutics in a report on Tuesday, July 1st. Scotiabank restated an “outperform” rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. Wedbush boosted their price objective on shares of Travere Therapeutics from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Finally, Stifel Nicolaus increased their target price on shares of Travere Therapeutics from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Friday, May 2nd. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $32.21.

Travere Therapeutics Trading Down 3.9%

Shares of TVTX opened at $17.23 on Friday. The company’s fifty day moving average is $16.10 and its 200 day moving average is $17.54. Travere Therapeutics has a fifty-two week low of $8.83 and a fifty-two week high of $25.29. The stock has a market capitalization of $1.54 billion, a PE ratio of -8.45 and a beta of 0.74. The company has a debt-to-equity ratio of 9.50, a quick ratio of 1.98 and a current ratio of 2.00.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.14. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The business had revenue of $94.84 million during the quarter, compared to analyst estimates of $100.18 million. During the same quarter last year, the business earned ($0.65) earnings per share. Travere Therapeutics’s quarterly revenue was up 111.5% compared to the same quarter last year. Sell-side analysts expect that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Institutional Trading of Travere Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co grew its stake in Travere Therapeutics by 237.8% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 23,318 shares of the company’s stock worth $406,000 after purchasing an additional 16,416 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Travere Therapeutics by 8.7% in the 4th quarter. MetLife Investment Management LLC now owns 44,711 shares of the company’s stock worth $779,000 after buying an additional 3,568 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Travere Therapeutics by 211.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 21,367 shares of the company’s stock worth $372,000 after buying an additional 14,501 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Travere Therapeutics during the fourth quarter valued at $557,000. Finally, Quarry LP increased its stake in shares of Travere Therapeutics by 60.0% during the fourth quarter. Quarry LP now owns 12,000 shares of the company’s stock valued at $209,000 after buying an additional 4,500 shares during the period.

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.