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

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been given a consensus rating of “Moderate Buy” by the eleven research firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $17.91.

A number of brokerages have recently commented on TVTX. Piper Sandler upped their price target on Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Canaccord Genuity Group increased their target price on shares of Travere Therapeutics from $18.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Barclays lifted their target price on shares of Travere Therapeutics from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Citigroup upped their price target on shares of Travere Therapeutics from $14.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Wedbush increased their target price on Travere Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd.

Insider Buying and Selling at Travere Therapeutics

In other news, SVP William E. Rote sold 4,387 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $50,538.24. Following the completion of the transaction, the senior vice president now owns 84,455 shares of the company’s stock, valued at $972,921.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP William E. Rote sold 4,387 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $50,538.24. Following the transaction, the senior vice president now owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jula Inrig sold 2,191 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $25,240.32. Following the sale, the insider now owns 62,633 shares in the company, valued at approximately $721,532.16. The disclosure for this sale can be found here. Insiders have sold a total of 30,707 shares of company stock valued at $352,712 in the last 90 days. Corporate insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Several institutional investors have recently modified their holdings of the company. EntryPoint Capital LLC purchased a new stake in Travere Therapeutics in the first quarter worth approximately $32,000. DRW Securities LLC purchased a new stake in shares of Travere Therapeutics in the 2nd quarter valued at $95,000. Forefront Analytics LLC grew its holdings in shares of Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after purchasing an additional 1,237 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in Travere Therapeutics by 68.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock worth $113,000 after purchasing an additional 5,962 shares during the period. Finally, Sei Investments Co. bought a new stake in Travere Therapeutics in the second quarter worth $117,000.

Travere Therapeutics Stock Performance

NASDAQ TVTX opened at $14.54 on Friday. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $15.36. The company has a 50-day simple moving average of $10.47 and a 200 day simple moving average of $8.35. The company has a market capitalization of $1.11 billion, a PE ratio of -6.92 and a beta of 0.71. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The company had revenue of $54.12 million for the quarter, compared to analysts’ expectations of $49.50 million. On average, research analysts predict that Travere Therapeutics will post -3.95 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.