Travere Therapeutics (NASDAQ:TVTX) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of Travere Therapeutics (NASDAQ:TVTX) from a strong-buy rating to a buy rating in a research note released on Saturday morning.

Other research analysts have also recently issued reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $47.00 price objective on shares of Travere Therapeutics in a report on Friday, November 28th. Guggenheim restated a “buy” rating and issued a $49.00 target price on shares of Travere Therapeutics in a research report on Wednesday, January 14th. Zacks Research lowered Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Citigroup boosted their price objective on Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Piper Sandler upped their price objective on Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Eleven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.62.

Travere Therapeutics Price Performance

Shares of NASDAQ TVTX opened at $30.73 on Friday. The stock has a market cap of $2.83 billion, a P/E ratio of -102.43, a P/E/G ratio of 0.84 and a beta of 0.83. The firm’s 50-day simple moving average is $32.60 and its 200 day simple moving average is $29.11. Travere Therapeutics has a fifty-two week low of $12.91 and a fifty-two week high of $42.13. The company has a quick ratio of 2.70, a current ratio of 2.74 and a debt-to-equity ratio of 2.71.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, insider Elizabeth E. Reed sold 2,994 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $32.18, for a total transaction of $96,346.92. Following the sale, the insider owned 105,211 shares in the company, valued at approximately $3,385,689.98. The trade was a 2.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric M. Dube sold 100,087 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $32.28, for a total transaction of $3,230,808.36. Following the sale, the chief executive officer directly owned 432,886 shares of the company’s stock, valued at $13,973,560.08. This represents a 18.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 331,925 shares of company stock valued at $11,318,755 over the last ninety days. Company insiders own 4.06% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Large investors have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Travere Therapeutics during the 2nd quarter worth approximately $33,000. First Horizon Corp acquired a new stake in shares of Travere Therapeutics in the third quarter worth $36,000. State of Wyoming acquired a new stake in shares of Travere Therapeutics in the fourth quarter worth $37,000. Torren Management LLC purchased a new position in shares of Travere Therapeutics during the fourth quarter valued at $38,000. Finally, Comerica Bank raised its position in Travere Therapeutics by 77.5% during the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after buying an additional 492 shares during the period.

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.