Cantor Fitzgerald Initiates Coverage on Travere Therapeutics (NASDAQ:TVTX)

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

TVTX has been the subject of several other reports. Canaccord Genuity Group dropped their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $9.00 to $27.00 in a research report on Monday, October 21st. JPMorgan Chase & Co. raised their target price on Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Barclays boosted their price target on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, HC Wainwright reduced their price objective on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.67.

Travere Therapeutics Price Performance

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

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.01. The company had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. Travere Therapeutics’s quarterly revenue was up 69.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.17) EPS. Research analysts forecast that Travere Therapeutics will post -3.94 EPS for the current year.

Insiders Place Their Bets

In other Travere Therapeutics news, CAO Sandra Calvin sold 15,000 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $17.22, for a total transaction of $258,300.00. Following the completion of the sale, the chief accounting officer now owns 54,927 shares of the company’s stock, valued at approximately $945,842.94. This represents a 21.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jula Inrig sold 2,066 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $19.10, for a total transaction of $39,460.60. Following the completion of the transaction, the insider now owns 59,883 shares in the company, valued at $1,143,765.30. This trade represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,596 shares of company stock valued at $527,262 in the last ninety days. 3.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Travere Therapeutics

Several large investors have recently modified their holdings of the company. Millennium Management LLC grew its holdings in Travere Therapeutics by 33.9% during the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after acquiring an additional 747,406 shares during the period. Emerald Advisers LLC grew its stake in Travere Therapeutics by 19.8% during the third quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock worth $27,430,000 after purchasing an additional 323,513 shares during the period. Finepoint Capital LP increased its holdings in Travere Therapeutics by 0.3% in the third quarter. Finepoint Capital LP now owns 1,782,267 shares of the company’s stock worth $24,934,000 after purchasing an additional 5,539 shares in the last quarter. Geode Capital Management LLC lifted its stake in Travere Therapeutics by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock valued at $24,222,000 after buying an additional 64,744 shares during the period. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Travere Therapeutics by 26.0% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company’s stock worth $16,588,000 after buying an additional 244,444 shares in the last quarter.

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.