Travere Therapeutics (NASDAQ:TVTX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Travere Therapeutics (NASDAQ:TVTX) from a buy rating to a strong-buy rating in a report published on Saturday.

Several other research analysts have also recently commented on the stock. Zacks Research cut shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, October 8th. Jefferies Financial Group set a $35.00 price objective on Travere Therapeutics in a research note on Wednesday, September 10th. Wells Fargo & Company upped their target price on Travere Therapeutics from $27.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Finally, Piper Sandler increased their target price on Travere Therapeutics from $26.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $38.71.

Travere Therapeutics Stock Down 0.2%

TVTX stock opened at $34.76 on Friday. Travere Therapeutics has a fifty-two week low of $12.91 and a fifty-two week high of $37.50. The company has a debt-to-equity ratio of 4.23, a current ratio of 2.75 and a quick ratio of 2.71. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of -32.79 and a beta of 0.89. The business’s fifty day moving average price is $32.25 and its two-hundred day moving average price is $23.06.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of ($0.31) by $0.59. Travere Therapeutics had a negative net margin of 20.32% and a negative return on equity of 178.68%. The business had revenue of $164.86 million for the quarter, compared to the consensus estimate of $106.09 million. During the same period in the prior year, the company posted ($0.70) earnings per share. Travere Therapeutics’s revenue was up 162.1% compared to the same quarter last year. On average, equities analysts anticipate that Travere Therapeutics will post -1.4 earnings per share for the current year.

Insiders Place Their Bets

In other Travere Therapeutics news, insider Elizabeth E. Reed sold 10,000 shares of Travere Therapeutics stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $25.00, for a total value of $250,000.00. Following the transaction, the insider directly owned 89,878 shares in the company, valued at approximately $2,246,950. The trade was a 10.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Timothy Coughlin sold 18,000 shares of Travere Therapeutics stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $35.03, for a total transaction of $630,540.00. Following the sale, the director owned 55,500 shares of the company’s stock, valued at approximately $1,944,165. The trade was a 24.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 243,368 shares of company stock valued at $7,910,972. 4.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Travere Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Arizona State Retirement System boosted its stake in Travere Therapeutics by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 24,964 shares of the company’s stock valued at $597,000 after purchasing an additional 375 shares during the period. Prudential Financial Inc. increased its stake in shares of Travere Therapeutics by 0.3% in the second quarter. Prudential Financial Inc. now owns 244,256 shares of the company’s stock worth $3,615,000 after acquiring an additional 615 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Travere Therapeutics by 3.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 22,688 shares of the company’s stock valued at $336,000 after purchasing an additional 773 shares during the last quarter. Diversified Trust Co boosted its holdings in shares of Travere Therapeutics by 3.5% during the 3rd quarter. Diversified Trust Co now owns 23,695 shares of the company’s stock worth $566,000 after buying an additional 796 shares during the period. Finally, Sio Capital Management LLC increased its position in Travere Therapeutics by 1.0% during the second quarter. Sio Capital Management LLC now owns 122,210 shares of the company’s stock worth $1,809,000 after acquiring an additional 1,210 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.