Travere Therapeutics, Inc. (NASDAQ:TVTX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have been given an average recommendation of “Moderate Buy” by the seventeen brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $38.7143.

A number of research firms recently issued reports on TVTX. TD Cowen raised their price target on Travere Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Wall Street Zen raised Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, October 8th. Stifel Nicolaus boosted their target price on Travere Therapeutics from $20.00 to $25.00 and gave the company a “hold” rating in a report on Friday, September 12th. Finally, HC Wainwright restated a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a research note on Friday, November 28th.

Insider Activity at Travere Therapeutics

In other news, CEO Eric M. Dube sold 92,872 shares of the business’s stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $30.38, for a total transaction of $2,821,451.36. Following the transaction, the chief executive officer directly owned 419,173 shares in the company, valued at $12,734,475.74. The trade was a 18.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sandra Calvin sold 67,115 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $36.00, for a total transaction of $2,416,140.00. Following the transaction, the chief accounting officer directly owned 48,545 shares of the company’s stock, valued at $1,747,620. This represents a 58.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 243,368 shares of company stock worth $7,910,972 in the last 90 days. Corporate insiders own 4.19% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in shares of Travere Therapeutics during the 2nd quarter worth approximately $33,000. First Horizon Corp acquired a new position in Travere Therapeutics during the third quarter worth $36,000. Headlands Technologies LLC acquired a new position in Travere Therapeutics during the second quarter worth $73,000. Atria Investments Inc purchased a new position in Travere Therapeutics in the second quarter worth $154,000. Finally, Gallagher Fiduciary Advisors LLC acquired a new stake in Travere Therapeutics in the second quarter valued at $155,000.

Travere Therapeutics Stock Up 0.1%

TVTX stock opened at $34.51 on Monday. The company has a fifty day moving average price of $32.96 and a 200 day moving average price of $23.49. Travere Therapeutics has a 12 month low of $12.91 and a 12 month high of $37.50. The company has a market cap of $3.09 billion, a price-to-earnings ratio of -32.56 and a beta of 0.89. The company has a debt-to-equity ratio of 4.23, a current ratio of 2.75 and a quick ratio of 2.71.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.59. The company had revenue of $164.86 million for the quarter, compared to the consensus estimate of $106.09 million. Travere Therapeutics had a negative net margin of 20.32% and a negative return on equity of 178.68%. Travere Therapeutics’s revenue for the quarter was up 162.1% on a year-over-year basis. During the same period last year, the firm posted ($0.70) EPS. Sell-side analysts expect that Travere Therapeutics will post -1.4 earnings per share for the current year.

Travere Therapeutics Company Profile

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.