Travere Therapeutics (NASDAQ:TVTX) Issues Quarterly Earnings Results, Misses Expectations By $0.78 EPS

Travere Therapeutics (NASDAQ:TVTX) announced its earnings results on Monday. The company reported ($1.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.78), Briefing.com reports. The business had revenue of $41.40 million for the quarter, compared to analysts’ expectations of $43.46 million. Travere Therapeutics had a negative net margin of 56.02% and a negative return on equity of 177.97%. The firm’s quarterly revenue was up 34.0% on a year-over-year basis. During the same period in the prior year, the company posted ($1.27) earnings per share.

Travere Therapeutics Stock Performance

Shares of NASDAQ TVTX traded up $0.86 during midday trading on Tuesday, hitting $7.41. 420,969 shares of the company’s stock were exchanged, compared to its average volume of 1,264,258. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $19.54. The stock’s 50 day moving average price is $7.04 and its 200-day moving average price is $7.61. The company has a debt-to-equity ratio of 1.88, a current ratio of 3.47 and a quick ratio of 3.41. The firm has a market cap of $563.98 million, a P/E ratio of -4.51 and a beta of 0.69.

Wall Street Analyst Weigh In

TVTX has been the topic of several analyst reports. Piper Sandler lifted their target price on Travere Therapeutics from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Guggenheim reaffirmed a “neutral” rating on shares of Travere Therapeutics in a report on Wednesday, March 27th. Wells Fargo & Company increased their price target on Travere Therapeutics from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Friday, February 16th. HC Wainwright lifted their price objective on Travere Therapeutics from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Wedbush reiterated an “outperform” rating and set a $13.00 target price on shares of Travere Therapeutics in a research report on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Travere Therapeutics has an average rating of “Moderate Buy” and an average target price of $18.00.

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.