Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives $30.62 Consensus PT from Brokerages

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) has received an average rating of "Moderate Buy" from the fourteen research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $30.62.

Several equities research analysts have recently issued reports on TVTX shares. Canaccord Genuity Group raised their price target on shares of Travere Therapeutics from $22.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Evercore ISI lifted their price objective on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Scotiabank lifted their price objective on shares of Travere Therapeutics from $27.00 to $32.00 and gave the company a "sector outperform" rating in a research note on Wednesday, February 12th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Travere Therapeutics in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th.

Travere Therapeutics Stock Performance

Shares of TVTX stock traded up $0.60 during trading hours on Friday, hitting $19.73. 1,137,210 shares of the company were exchanged, compared to its average volume of 1,407,676. The firm has a fifty day simple moving average of $20.33 and a 200 day simple moving average of $17.77. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $25.29. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -4.81 and a beta of 0.75.

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Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.15). Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The company had revenue of $74.79 million for the quarter, compared to analysts' expectations of $72.38 million. Research analysts predict that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other news, insider Peter Heerma sold 1,584 shares of Travere Therapeutics stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $18.94, for a total transaction of $30,000.96. Following the completion of the sale, the insider now directly owns 106,374 shares of the company's stock, valued at approximately $2,014,723.56. The trade was a 1.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sandra Calvin sold 15,000 shares of Travere Therapeutics stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $17.22, for a total transaction of $258,300.00. Following the sale, the chief accounting officer now directly owns 54,927 shares of the company's stock, valued at $945,842.94. This represents a 21.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,335 shares of company stock valued at $4,453,012 in the last three months. Company insiders own 3.75% of the company's stock.

Institutional Trading of Travere Therapeutics

A number of hedge funds have recently made changes to their positions in TVTX. Rock Springs Capital Management LP raised its position in Travere Therapeutics by 6.2% in the 4th quarter. Rock Springs Capital Management LP now owns 4,973,649 shares of the company's stock worth $86,641,000 after purchasing an additional 289,173 shares during the period. Renaissance Technologies LLC raised its position in Travere Therapeutics by 28.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company's stock worth $41,974,000 after purchasing an additional 534,500 shares during the period. Driehaus Capital Management LLC raised its position in Travere Therapeutics by 608.1% in the 4th quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company's stock worth $38,637,000 after purchasing an additional 1,904,733 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Travere Therapeutics by 36.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company's stock worth $37,875,000 after purchasing an additional 583,836 shares during the period. Finally, Emerald Advisers LLC raised its position in Travere Therapeutics by 8.4% in the 4th quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company's stock worth $37,030,000 after purchasing an additional 165,085 shares during the period.

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.