Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have received a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $30.62.

Several equities analysts recently issued reports on TVTX shares. Citigroup boosted their price target on Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Canaccord Genuity Group boosted their price target on Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Travere Therapeutics in a research report on Friday, February 21st. Scotiabank boosted their price target on Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Wednesday, February 12th. Finally, Evercore ISI boosted their price target on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th.

Insiders Place Their Bets

In other news, insider Jula Inrig sold 2,066 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $19.10, for a total transaction of $39,460.60. Following the sale, the insider now owns 59,883 shares of the company’s stock, valued at $1,143,765.30. The trade was a 3.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sandra Calvin sold 54,244 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total value of $1,356,100.00. Following the sale, the chief accounting officer now directly owns 54,410 shares in the company, valued at $1,360,250. This trade represents a 49.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 206,335 shares of company stock worth $4,453,012. Company insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Several institutional investors have recently modified their holdings of the company. California State Teachers Retirement System boosted its stake in shares of Travere Therapeutics by 10.8% during the 4th quarter. California State Teachers Retirement System now owns 72,192 shares of the company’s stock worth $1,258,000 after acquiring an additional 7,041 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Travere Therapeutics during the 4th quarter worth approximately $4,418,000. GF Fund Management CO. LTD. purchased a new stake in shares of Travere Therapeutics during the 4th quarter worth approximately $31,000. Public Employees Retirement System of Ohio lifted its stake in Travere Therapeutics by 102.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 102,756 shares of the company’s stock valued at $1,790,000 after buying an additional 51,876 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its stake in Travere Therapeutics by 33.6% in the 4th quarter. Voloridge Investment Management LLC now owns 1,007,197 shares of the company’s stock valued at $17,545,000 after buying an additional 253,402 shares in the last quarter.

Travere Therapeutics Stock Down 1.4 %

TVTX opened at $20.53 on Friday. The business’s 50-day simple moving average is $20.50 and its 200-day simple moving average is $18.10. 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 one year low of $5.12 and a one year high of $25.29. The stock has a market capitalization of $1.82 billion, a P/E ratio of -5.01 and a beta of 0.75.

Travere Therapeutics (NASDAQ:TVTX) 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). The company had revenue of $74.79 million during the quarter, compared to analyst estimates of $72.38 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. Analysts anticipate that Travere Therapeutics will post -1.4 EPS for the current 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.