Travere Therapeutics (NASDAQ:TVTX) Trading 4.6% Higher – Should You Buy?

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s stock price shot up 4.6% during mid-day trading on Monday . The stock traded as high as $15.83 and last traded at $15.61. 317,871 shares traded hands during trading, a decline of 79% from the average session volume of 1,518,105 shares. The stock had previously closed at $14.92.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TVTX. Evercore ISI increased their price target on shares of Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group boosted their price objective on shares of Travere Therapeutics from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, April 10th. Bank of America lifted their price target on Travere Therapeutics from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. JPMorgan Chase & Co. increased their target price 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. Finally, Citigroup lifted their target price on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, February 24th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.08.

Travere Therapeutics Trading Up 3.4 %

The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The company has a market cap of $1.37 billion, a P/E ratio of -3.76 and a beta of 0.84. The business has a 50-day moving average price of $18.89 and a two-hundred day moving average price of $18.62.

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

Insider Buying and Selling

In related news, SVP William E. Rote sold 2,437 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total transaction of $47,424.02. Following the completion of the transaction, the senior vice president now owns 83,170 shares in the company, valued at approximately $1,618,488.20. This represents a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Peter Heerma sold 1,584 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total transaction of $30,000.96. Following the transaction, the insider now owns 106,374 shares of the company’s stock, valued at approximately $2,014,723.56. This represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 188,877 shares of company stock valued at $4,147,627. Company insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Summit Investment Advisors Inc. boosted its holdings in shares of Travere Therapeutics by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company’s stock valued at $138,000 after buying an additional 667 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Travere Therapeutics during the 4th quarter worth about $31,000. Sterling Capital Management LLC lifted its stake in Travere Therapeutics by 859.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock valued at $41,000 after purchasing an additional 2,115 shares during the last quarter. Rhumbline Advisers grew its holdings in Travere Therapeutics by 2.2% during the fourth quarter. Rhumbline Advisers now owns 121,248 shares of the company’s stock worth $2,112,000 after purchasing an additional 2,640 shares during the period. Finally, Arizona State Retirement System increased its position in Travere Therapeutics by 13.5% during the fourth quarter. Arizona State Retirement System now owns 22,396 shares of the company’s stock worth $390,000 after buying an additional 2,666 shares during the last quarter.

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.