Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives Consensus Rating of "Moderate Buy" from Brokerages

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) has received a consensus rating of "Moderate Buy" from the thirteen analysts that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $21.85.

Several analysts have issued reports on the stock. 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. Wedbush upped their target price on Travere Therapeutics from $17.00 to $25.00 and gave the company an "outperform" rating in a research report on Wednesday, October 9th. Canaccord Genuity Group dropped their price target on Travere Therapeutics from $23.00 to $22.00 and set a "buy" rating for the company in a report on Monday, September 30th. JPMorgan Chase & Co. boosted their target price on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company an "overweight" rating in a research report on Friday, September 13th. Finally, Piper Sandler boosted their price objective on shares of Travere Therapeutics from $11.00 to $12.00 and gave the company a "neutral" rating in a report on Friday, August 2nd.

Travere Therapeutics Stock Performance

Travere Therapeutics stock traded up $2.19 during mid-day trading on Friday, reaching $19.85. The company had a trading volume of 3,981,871 shares, compared to its average volume of 1,411,579. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $19.92. 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 company has a 50 day moving average of $15.42 and a 200-day moving average of $10.55.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.71) by $0.01. The business had revenue of $62.90 million during the quarter, compared to analysts' expectations of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The firm's revenue for the quarter was up 69.6% on a year-over-year basis. During the same quarter last year, the company posted ($1.17) EPS. As a group, equities research analysts predict that Travere Therapeutics will post -3.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jula Inrig sold 2,191 shares of the business's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $25,240.32. Following the sale, the insider now owns 62,633 shares of the company's stock, valued at $721,532.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Christopher R. Cline sold 2,490 shares of Travere Therapeutics stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $28,684.80. Following the sale, the chief financial officer now owns 74,595 shares of the company's stock, valued at approximately $859,334.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jula Inrig sold 2,191 shares of the business's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $25,240.32. Following the sale, the insider now directly owns 62,633 shares in the company, valued at $721,532.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,707 shares of company stock valued at $1,504,312 over the last 90 days. 3.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Travere Therapeutics

Several hedge funds have recently bought and sold shares of TVTX. Mirae Asset Global Investments Co. Ltd. boosted its stake in Travere Therapeutics by 8.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,178 shares of the company's stock worth $387,000 after acquiring an additional 3,754 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Travere Therapeutics during the first quarter worth about $452,000. Russell Investments Group Ltd. boosted its stake in Travere Therapeutics by 79.2% during the first quarter. Russell Investments Group Ltd. now owns 184,623 shares of the company's stock worth $1,423,000 after acquiring an additional 81,611 shares in the last quarter. ProShare Advisors LLC boosted its stake in Travere Therapeutics by 9.2% during the first quarter. ProShare Advisors LLC now owns 18,421 shares of the company's stock worth $142,000 after acquiring an additional 1,557 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Travere Therapeutics by 13.6% in the first quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company's stock worth $48,310,000 after buying an additional 750,686 shares during the last quarter.

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.