HC Wainwright Issues Pessimistic Forecast for TVTX Earnings

Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) - HC Wainwright cut their FY2024 earnings estimates for Travere Therapeutics in a research report issued on Wednesday, January 15th. HC Wainwright analyst E. Arce now anticipates that the company will post earnings of ($3.96) per share for the year, down from their previous forecast of ($3.84). HC Wainwright has a "Buy" rating and a $22.00 price objective on the stock. The consensus estimate for Travere Therapeutics' current full-year earnings is ($3.92) per share. HC Wainwright also issued estimates for Travere Therapeutics' Q4 2024 earnings at ($0.59) EPS, Q1 2025 earnings at ($0.43) EPS, Q2 2025 earnings at ($0.24) EPS, Q3 2025 earnings at ($0.20) EPS, Q4 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.90) EPS, FY2026 earnings at ($0.67) EPS, FY2027 earnings at $0.57 EPS and FY2028 earnings at $2.48 EPS.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.01. The firm 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%. The firm's quarterly revenue was up 69.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.17) EPS.

TVTX has been the subject of a number of other research reports. Guggenheim upped their price target on Travere Therapeutics from $23.00 to $41.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Citigroup reduced their target price on shares of Travere Therapeutics from $23.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday, September 27th. Cantor Fitzgerald initiated coverage on shares of Travere Therapeutics in a report on Friday, January 10th. They set an "overweight" rating for the company. Barclays lifted their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Finally, Bank of America upped their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $24.00.

Travere Therapeutics Stock Down 0.5 %

Shares of TVTX stock traded down $0.10 during trading hours on Friday, reaching $18.37. The company had a trading volume of 879,442 shares, compared to its average volume of 1,161,195. The company has a market capitalization of $1.43 billion, a P/E ratio of -4.04 and a beta of 0.70. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $20.33. The stock's fifty day simple moving average is $18.24 and its 200 day simple moving average is $14.40.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors have recently modified their holdings of the business. CWM LLC boosted its stake in 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 during the period. DRW Securities LLC acquired a new position in Travere Therapeutics during the 2nd quarter valued at approximately $95,000. Quarry LP bought a new position in Travere Therapeutics during the 3rd quarter worth $105,000. Forefront Analytics LLC increased its position in Travere Therapeutics by 10.2% in the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company's stock worth $109,000 after buying an additional 1,237 shares during the period. Finally, Sei Investments Co. bought a new stake in Travere Therapeutics in the second quarter valued at $117,000.

Insider Buying and Selling

In other Travere Therapeutics news, CAO Sandra Calvin sold 12,090 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $18.30, for a total transaction of $221,247.00. Following the sale, the chief accounting officer now directly owns 54,927 shares of the company's stock, valued at approximately $1,005,164.10. This represents a 18.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jula Inrig sold 2,066 shares of the firm's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $19.10, for a total transaction of $39,460.60. Following the completion of the transaction, the insider now owns 59,883 shares in the company, valued at approximately $1,143,765.30. The trade was a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,596 shares of company stock worth $527,262. Corporate insiders own 4.06% of the company's stock.

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.