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

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) have received an average rating of "Moderate Buy" from the thirteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $22.62.

TVTX has been the topic of a number of recent research reports. Scotiabank lifted their price objective on shares of Travere Therapeutics from $23.00 to $27.00 and gave the company a "sector outperform" rating in a research note on Friday, November 1st. Leerink Partners restated an "outperform" rating and issued a $20.00 price target on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Citigroup decreased their price objective on Travere Therapeutics from $23.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, September 27th. HC Wainwright lowered their target price on Travere Therapeutics from $23.00 to $18.00 and set a "buy" rating on the stock in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. upped their price target on Travere Therapeutics from $20.00 to $23.00 and gave the stock an "overweight" rating in a research note on Friday, September 13th.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, Director Jeffrey A. Meckler sold 40,000 shares of the business's stock in a transaction on Monday, September 30th. The stock was sold at an average price of $14.06, for a total transaction of $562,400.00. Following the sale, the director now directly owns 81,000 shares in the company, valued at approximately $1,138,860. The trade was a 33.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sandra Calvin sold 12,090 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $18.30, for a total value of $221,247.00. Following the completion of the sale, the chief accounting officer now directly owns 54,927 shares in the company, valued at $1,005,164.10. This trade represents a 18.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,283 shares of company stock valued at $1,720,670 in the last ninety days. 3.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Travere Therapeutics

A number of large investors have recently added to or reduced their stakes in TVTX. Assenagon Asset Management S.A. grew its position in shares of Travere Therapeutics by 912.5% in the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company's stock valued at $18,200,000 after purchasing an additional 1,995,419 shares during the last quarter. Vanguard Group Inc. lifted its stake in Travere Therapeutics by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company's stock valued at $48,310,000 after buying an additional 750,686 shares in the last quarter. Millennium Management LLC grew its holdings in Travere Therapeutics by 33.9% during the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company's stock valued at $24,244,000 after buying an additional 747,406 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Travere Therapeutics by 203.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company's stock valued at $5,055,000 after buying an additional 412,000 shares during the last quarter. Finally, Emerald Advisers LLC increased its position in Travere Therapeutics by 19.8% during the third quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company's stock worth $27,430,000 after buying an additional 323,513 shares in the last quarter.

Travere Therapeutics Stock Performance

NASDAQ:TVTX traded up $0.04 during mid-day trading on Thursday, reaching $19.41. 559,858 shares of the stock were exchanged, compared to its average volume of 1,390,216. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $20.33. The company has a 50 day simple moving average of $17.47 and a 200-day simple moving average of $12.10. The stock has a market capitalization of $1.51 billion, a P/E ratio of -4.27 and a beta of 0.69.

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. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The business had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. During the same period last year, the firm posted ($1.17) earnings per share. The company's revenue for the quarter was up 69.6% compared to the same quarter last year. Analysts anticipate that Travere Therapeutics will post -3.94 earnings per share for the current fiscal year.

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.