Travere Therapeutics (NASDAQ:TVTX) Earns Overweight Rating from Analysts at Cantor Fitzgerald

Research analysts at Cantor Fitzgerald initiated coverage on shares of Travere Therapeutics (NASDAQ:TVTX) in a research report issued on Friday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating on the stock.

Several other equities analysts have also recently weighed in on the company. Bank of America raised their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Wedbush raised their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Scotiabank upped their price objective on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Finally, Piper Sandler upped their target price on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $23.67.

Travere Therapeutics Stock Down 2.7 %

Shares of NASDAQ TVTX traded down $0.52 during mid-day trading on Friday, reaching $18.48. 91,498 shares of the company’s stock traded hands, compared to its average volume of 915,175. 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 business has a 50-day simple moving average of $18.20 and a 200 day simple moving average of $14.05. The stock has a market cap of $1.44 billion, a P/E ratio of -4.06 and a beta of 0.70. Travere Therapeutics has a 1-year low of $5.12 and a 1-year high of $20.33.

Travere Therapeutics (NASDAQ:TVTX) last issued 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. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The firm had revenue of $62.90 million during the quarter, compared to analyst estimates of $60.87 million. During the same period in the previous year, the company posted ($1.17) EPS. The company’s revenue for the quarter was up 69.6% on a year-over-year basis. On average, analysts expect that Travere Therapeutics will post -3.94 EPS for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other news, insider Jula Inrig sold 2,066 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $19.10, for a total value of $39,460.60. Following the completion of the transaction, the insider now directly owns 59,883 shares of the company’s stock, valued at $1,143,765.30. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sandra Calvin sold 12,090 shares of the business’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 sale, the chief accounting officer now owns 54,927 shares in the company, valued at approximately $1,005,164.10. The trade was a 18.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,596 shares of company stock worth $527,262 over the last ninety days. 3.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Aigen Investment Management LP purchased a new stake in shares of Travere Therapeutics in the third quarter worth about $170,000. Oppenheimer & Co. Inc. purchased a new stake in Travere Therapeutics in the 3rd quarter worth approximately $673,000. Acadian Asset Management LLC boosted its holdings in Travere Therapeutics by 202.6% in the 2nd quarter. Acadian Asset Management LLC now owns 144,901 shares of the company’s stock valued at $1,190,000 after purchasing an additional 97,020 shares during the period. Millennium Management LLC grew its position in shares of 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 purchasing an additional 747,406 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Travere Therapeutics by 27.5% in the third quarter. FMR LLC now owns 147,416 shares of the company’s stock worth $2,062,000 after purchasing an additional 31,772 shares during the period.

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.