Wedbush Research Analysts Raise Earnings Estimates for TVTX

Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) - Equities research analysts at Wedbush lifted their FY2024 earnings per share estimates for shares of Travere Therapeutics in a research report issued on Thursday, January 23rd. Wedbush analyst L. Chico now anticipates that the company will post earnings per share of ($3.84) for the year, up from their prior forecast of ($3.89). Wedbush has a "Outperform" rating and a $25.00 price objective on the stock. The consensus estimate for Travere Therapeutics' current full-year earnings is ($3.92) per share. Wedbush also issued estimates for Travere Therapeutics' Q4 2024 earnings at ($0.47) EPS, Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.18) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at $0.15 EPS, FY2025 earnings at ($0.49) EPS, FY2026 earnings at $1.45 EPS, FY2027 earnings at $3.27 EPS and FY2029 earnings at $5.46 EPS.

Several other equities research analysts have also recently commented on the company. Wells Fargo & Company raised Travere Therapeutics from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $9.00 to $27.00 in a research note on Monday, October 21st. Bank of America lifted their target price on Travere Therapeutics from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. HC Wainwright lifted their target price on Travere Therapeutics from $18.00 to $22.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. Scotiabank lifted their price objective on Travere Therapeutics from $23.00 to $27.00 and gave the stock a "sector outperform" rating in a research note on Friday, November 1st. Finally, Canaccord Genuity Group decreased their price objective on Travere Therapeutics from $23.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, September 30th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.00.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock traded down $0.18 during midday trading on Monday, hitting $20.14. 449,743 shares of the company were exchanged, compared to its average volume of 1,269,117. The firm has a 50 day simple moving average of $18.33 and a 200-day simple moving average of $14.95. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $21.56. The firm has a market cap of $1.57 billion, a P/E ratio of -4.41 and a beta of 0.70.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping analysts' consensus estimates 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%. The company's quarterly revenue was up 69.6% on a year-over-year basis. During the same quarter last year, the company earned ($1.17) EPS.

Hedge Funds Weigh In On Travere Therapeutics

Institutional investors have recently bought and sold shares of the business. R Squared Ltd acquired a new position in Travere Therapeutics during the fourth quarter worth approximately $53,000. CWM LLC increased its position in Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company's stock worth $70,000 after buying an additional 3,065 shares during the last quarter. Quarry LP acquired a new position in Travere Therapeutics during the third quarter worth approximately $105,000. Forefront Analytics LLC increased its position in Travere Therapeutics by 10.2% during 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 last quarter. Finally, Sei Investments Co. acquired a new position in shares of Travere Therapeutics in the second quarter valued at approximately $117,000.

Insider Buying and Selling

In related news, CAO Sandra Calvin sold 12,090 shares of the company's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $18.30, for a total transaction of $221,247.00. Following the sale, the chief accounting officer now owns 54,927 shares in the company, valued at approximately $1,005,164.10. This represents a 18.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Peter Heerma sold 1,584 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total value of $30,000.96. Following the transaction, the insider now directly owns 106,374 shares in the company, valued at approximately $2,014,723.56. This trade represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,143 shares of company stock worth $1,167,512. Corporate insiders own 3.75% 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.