Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts remain broadly positive: Travere Therapeutics has a “Moderate Buy” consensus, with 10 buy, 1 hold and 1 sell rating. The average 12-month price target is $68, with several firms recently raising their targets.
• Recent quarterly results exceeded expectations: The company reported an adjusted loss of $0.10 per share versus the expected $0.13 loss, while revenue of $169.58 million increased 48.2% year over year and surpassed estimates.
• Shares remain volatile and near their annual high: TVTX opened at $62.51 after a reported 5% decline, compared with a 52-week range of $22.06 to $68.73. Institutional investors have also increased their positions, although a director recently sold 20,000 shares under a pre-arranged trading plan.

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) have received a consensus rating of "Moderate Buy" from the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and ten have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $68.00.

Several equities analysts have commented on the company. Canaccord Genuity Group upped their price target on Travere Therapeutics from $62.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Citigroup boosted their price target on shares of Travere Therapeutics from $70.00 to $85.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Wedbush raised their target price on Travere Therapeutics from $61.00 to $75.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. HC Wainwright raised their price target on shares of Travere Therapeutics from $57.00 to $67.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Finally, Wells Fargo & Company boosted their price objective on Travere Therapeutics from $50.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, June 12th.

Travere Therapeutics Trading Down 5.0%

Shares of NASDAQ:TVTX opened at $62.51 on Wednesday. The company has a debt-to-equity ratio of 24.58, a quick ratio of 3.99 and a current ratio of 4.05. The stock's 50-day moving average is $61.40 and its 200-day moving average is $48.02. The company has a market cap of $5.89 billion, a P/E ratio of -135.89 and a beta of 1.05. Travere Therapeutics has a 52-week low of $22.06 and a 52-week high of $68.73.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.03. The company had revenue of $169.58 million during the quarter, compared to analyst estimates of $157.27 million. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.The company's quarterly revenue was up 48.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. Equities research analysts predict that Travere Therapeutics will post -0.54 earnings per share for the current year.

Insider Buying and Selling at Travere Therapeutics

In other news, Director Jeffrey Meckler sold 20,000 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $67.31, for a total value of $1,346,200.00. Following the transaction, the director owned 91,500 shares of the company's stock, valued at $6,158,865. This represents a 17.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.44% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TVTX. Jupiter Topco LLC bought a new position in Travere Therapeutics during the 2nd quarter worth approximately $643,299,000. Bank of America Corp DE acquired a new position in Travere Therapeutics during the second quarter valued at approximately $259,527,000. Fiera Capital Corp bought a new stake in Travere Therapeutics in the fourth quarter valued at approximately $33,398,000. Wellington Management Group LLP increased its stake in Travere Therapeutics by 50.0% in the second quarter. Wellington Management Group LLP now owns 1,533,080 shares of the company's stock valued at $87,094,000 after purchasing an additional 510,808 shares in the last quarter. Finally, Perceptive Advisors LLC increased its stake in Travere Therapeutics by 12.7% in the fourth quarter. Perceptive Advisors LLC now owns 4,278,180 shares of the company's stock valued at $163,469,000 after purchasing an additional 483,565 shares in the last quarter.

About Travere Therapeutics

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare kidney and immune-mediated diseases. The company's work is centered on conditions with significant unmet medical needs, including diseases that can lead to progressive kidney damage and kidney failure.

Travere's principal commercial product is FILSPARI (sparsentan), an oral therapy for adults with primary immunoglobulin A nephropathy, or IgA nephropathy, who are at risk of disease progression.

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