Travere Therapeutics (NASDAQ:TVTX) Coverage Initiated at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Travere Therapeutics (NASDAQ:TVTX - Free Report) in a research report released on Friday morning, MarketBeat.com reports. The firm issued an overweight rating on the stock.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company raised shares of Travere Therapeutics from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $9.00 to $27.00 in a research note on Monday, October 21st. Canaccord Genuity Group lowered their price objective on shares of Travere Therapeutics from $23.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Scotiabank upped their price target on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a "sector outperform" rating in a research report on Friday, November 1st. HC Wainwright decreased their price target on shares of Travere Therapeutics from $23.00 to $18.00 and set a "buy" rating for the company in a research report on Friday, September 27th. Finally, Bank of America upped their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Travere Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.67.

Travere Therapeutics Trading Down 4.8 %

TVTX traded down $0.91 during trading on Friday, hitting $18.09. The company's stock had a trading volume of 1,731,199 shares, compared to its average volume of 1,196,350. The firm's 50 day moving average price is $18.20 and its 200-day moving average price is $14.05. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The stock has a market cap of $1.41 billion, a PE ratio of -3.98 and a beta of 0.70. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $20.33.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.01. The company had revenue of $62.90 million during the quarter, compared to the consensus estimate of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. Travere Therapeutics's revenue was up 69.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.17) EPS. On average, analysts expect that Travere Therapeutics will post -3.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Sandra Calvin sold 15,000 shares of the company's stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $17.22, for a total value of $258,300.00. Following the sale, the chief accounting officer now owns 54,927 shares in the company, valued at approximately $945,842.94. This represents a 21.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jula Inrig sold 2,066 shares of the company's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $19.10, for a total transaction of $39,460.60. Following the completion of the sale, the insider now owns 59,883 shares in the company, valued at approximately $1,143,765.30. This trade represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,596 shares of company stock worth $527,262 in the last quarter. 3.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC boosted its holdings in shares of Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company's stock valued at $70,000 after acquiring an additional 3,065 shares in the last quarter. DRW Securities LLC purchased a new stake in shares of Travere Therapeutics in the 2nd quarter valued at approximately $95,000. Quarry LP purchased a new stake in Travere Therapeutics in the 3rd quarter worth approximately $105,000. Forefront Analytics LLC lifted its position in Travere Therapeutics by 10.2% in the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company's stock worth $109,000 after buying an additional 1,237 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in Travere Therapeutics in the 2nd quarter worth approximately $117,000.

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.