Travere Therapeutics, Inc. (TVTX) – What Are Analysts Thinking About This Stock?

Travere Therapeutics, Inc. (NASDAQ:TVTX) has earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating and eleven have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $72.55.

Several research firms have recently commented on TVTX. Wedbush restated an “outperform” rating and issued a $76.00 price target on shares of Travere Therapeutics in a report on Tuesday, September 22nd. Leerink Partners reduced their price target on Travere Therapeutics from $78.00 to $67.00 and set an “outperform” rating on the stock in a research report on Thursday, November 5th. Piper Sandler restated an “overweight” rating on shares of Travere Therapeutics in a research note on Monday, August 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Friday, September 18th. Finally, JPMorgan Chase & Co. dropped their target price on Travere Therapeutics from $90.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, November 6th.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, CFO Christopher R. Cline sold 50,508 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $62.34, for a total transaction of $3,148,668.72. Following the transaction, the chief financial officer directly owned 87,508 shares of the company’s stock, valued at $5,455,248.72. This trade represents a 36.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Heerma sold 172,717 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $63.43, for a total transaction of $10,955,439.31. Following the completion of the transaction, the executive vice president directly owned 117,066 shares in the company, valued at $7,425,496.38. This represents a 59.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,294,029 shares of company stock worth $79,454,261 over the last quarter. Company insiders own 4.44% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Large investors have recently modified their holdings of the business. Jupiter Topco LLC acquired a new stake in Travere Therapeutics in the 2nd quarter valued at about $643,299,000. Bank of America Corp DE acquired a new position in shares of Travere Therapeutics in the second quarter valued at approximately $259,527,000. Wellington Management Group LLP increased its position in shares of Travere Therapeutics by 50.0% during the second quarter. Wellington Management Group LLP now owns 1,533,080 shares of the company’s stock worth $87,094,000 after acquiring an additional 510,808 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Travere Therapeutics by 168.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,145,414 shares of the company’s stock valued at $67,442,000 after purchasing an additional 718,109 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Travere Therapeutics by 96.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 778,340 shares of the company’s stock valued at $45,829,000 after buying an additional 382,371 shares during the period.

Travere Therapeutics Stock Up 0.1%

Shares of TVTX opened at $52.04 on Thursday. The firm has a market capitalization of $5.00 billion, a P/E ratio of -40.34 and a beta of 1.11. The firm has a fifty day moving average price of $56.56 and a 200-day moving average price of $47.34. Travere Therapeutics has a 12-month low of $22.59 and a 12-month high of $68.73. The company has a current ratio of 3.00, a quick ratio of 2.95 and a debt-to-equity ratio of 26.72.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Monday, November 2nd. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.49). The company had revenue of $224.56 million for the quarter, compared to the consensus estimate of $195.29 million. Travere Therapeutics had a negative net margin of 18.66% and a negative return on equity of 185.69%. The business’s revenue was up 36.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 EPS. Equities research analysts expect that Travere Therapeutics will post -0.90 earnings per share for the current year.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc. is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, with an emphasis on kidney and metabolic disorders. The company was formerly known as Retrophin and adopted the Travere Therapeutics name in 2020. Its commercial products include FILSPARI (sparsentan), an oral treatment approved in the United States for adults with primary IgA nephropathy at risk of disease progression, and THIOLA EC (tiopronin), used to help prevent cystine kidney stones in people with cystinuria.