Travere Therapeutics, Inc. (NASDAQ:TVTX) Given Consensus Rating of “Moderate Buy” by Analysts

Travere Therapeutics, Inc. (NASDAQ:TVTX) has received an average rating of “Moderate Buy” from the seventeen analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $38.7143.

A number of research firms recently commented on TVTX. Zacks Research cut shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Wells Fargo & Company raised their target price on Travere Therapeutics from $27.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Piper Sandler upped their price target on Travere Therapeutics from $26.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Stifel Nicolaus lifted their price objective on Travere Therapeutics from $20.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, September 12th. Finally, Cowen restated a “buy” rating on shares of Travere Therapeutics in a research note on Friday, October 31st.

Insider Buying and Selling

In related news, Director Timothy Coughlin sold 18,000 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $35.03, for a total transaction of $630,540.00. Following the sale, the director directly owned 55,500 shares in the company, valued at approximately $1,944,165. The trade was a 24.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Peter Heerma sold 5,591 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $35.00, for a total value of $195,685.00. Following the sale, the insider directly owned 119,071 shares in the company, valued at $4,167,485. This trade represents a 4.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 233,368 shares of company stock worth $7,660,972 in the last 90 days. 4.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Travere Therapeutics

A number of large investors have recently modified their holdings of TVTX. Capital Fund Management S.A. bought a new position in shares of Travere Therapeutics during the 2nd quarter valued at about $1,501,000. Squarepoint Ops LLC boosted its stake in Travere Therapeutics by 98.7% in the second quarter. Squarepoint Ops LLC now owns 479,394 shares of the company’s stock worth $7,095,000 after buying an additional 238,070 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new position in shares of Travere Therapeutics during the first quarter worth approximately $304,000. Y Intercept Hong Kong Ltd lifted its holdings in shares of Travere Therapeutics by 343.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 68,000 shares of the company’s stock worth $1,006,000 after acquiring an additional 52,675 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new stake in shares of Travere Therapeutics in the 2nd quarter valued at $2,486,000.

Travere Therapeutics Trading Up 0.1%

Shares of Travere Therapeutics stock opened at $34.51 on Monday. The firm has a market cap of $3.09 billion, a PE ratio of -32.56 and a beta of 0.89. Travere Therapeutics has a 1 year low of $12.91 and a 1 year 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 fifty day moving average price of $32.96 and a 200-day moving average price of $23.61.

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

About Travere Therapeutics

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.