Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives $23.67 Average Price Target from Analysts

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have received a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $23.67.

A number of analysts recently issued reports on TVTX shares. Scotiabank boosted their price objective on Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. Citigroup decreased their price target on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Bank of America increased their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Leerink Partners reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Travere Therapeutics in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $9.00 to $27.00 in a research note on Monday, October 21st.

Insider Buying and Selling

In related news, CAO Sandra Calvin sold 15,000 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $17.22, for a total transaction of $258,300.00. Following the transaction, the chief accounting officer now directly owns 54,927 shares of the company’s stock, valued at approximately $945,842.94. This trade represents a 21.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TVTX. Virtu Financial LLC purchased a new stake in shares of Travere Therapeutics in the 3rd quarter valued at $301,000. 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 worth $24,222,000 after purchasing an additional 64,744 shares during the last quarter. Two Sigma Advisers LP boosted its position in Travere Therapeutics by 30.2% during the third quarter. Two Sigma Advisers LP now owns 720,400 shares of the company’s stock valued at $10,078,000 after buying an additional 167,100 shares during the period. Quarry LP bought a new position in shares of Travere Therapeutics during the third quarter valued at about $105,000. Finally, Parkman Healthcare Partners LLC increased its holdings in shares of Travere Therapeutics by 12.0% in the third quarter. Parkman Healthcare Partners LLC now owns 1,086,067 shares of the company’s stock worth $15,194,000 after buying an additional 116,175 shares during the period.

Travere Therapeutics Price Performance

TVTX opened at $18.86 on Monday. The firm has a 50-day moving average price of $18.12 and a 200-day moving average price of $13.82. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $20.33. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -4.15 and a beta of 0.69.

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

About Travere Therapeutics

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.