Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock Has Consensus Target Price of $69.50

Key Points

• Analysts maintain a Moderate Buy consensus on Travere Therapeutics, with 10 buy, one hold and one sell rating among 12 analysts. The average 12-month price target is $69.50, above the reported share price of $52.13.
• Travere reported quarterly revenue of $169.58 million, up 48.2% year over year and above expectations, while adjusted EPS of a $0.10 loss beat estimates. The company remains unprofitable, with analysts forecasting a full-year EPS loss of $0.54.
• Insiders sold approximately 1.05 million shares worth $66.3 million over the past 90 days, including substantial sales by the CEO and an executive vice president under pre-arranged trading plans.

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twelve ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $69.50.

A number of analysts have commented on the company. Citigroup lifted their price target on Travere Therapeutics from $70.00 to $85.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Evercore set a $78.00 price objective on Travere Therapeutics in a research note on Monday, August 10th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Travere Therapeutics in a report on Friday, September 18th. HC Wainwright reaffirmed a "buy" rating and set a $67.00 target price on shares of Travere Therapeutics in a report on Tuesday, September 22nd. Finally, Piper Sandler reiterated an "overweight" rating on shares of Travere Therapeutics in a research report on Monday, August 17th.

Travere Therapeutics Trading Up 0.2%

Shares of Travere Therapeutics stock opened at $52.13 on Friday. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58. Travere Therapeutics has a 12-month low of $22.59 and a 12-month high of $68.73. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of -113.32 and a beta of 1.13. The firm's 50 day simple moving average is $62.21 and its two-hundred day simple moving average is $51.75.

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

Insider Buying and Selling at Travere Therapeutics

In other news, EVP Peter Heerma sold 8,282 shares of the stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $65.07, for a total value of $538,909.74. Following the sale, the executive vice president owned 117,066 shares in the company, valued at $7,617,484.62. This represents a 6.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric M. Dube sold 108,493 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $64.61, for a total transaction of $7,009,732.73. Following the completion of the sale, the chief executive officer owned 432,886 shares in the company, valued at $27,968,764.46. The trade was a 20.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,050,294 shares of company stock worth $66,336,443. Corporate insiders own 4.44% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Insight Wealth Strategies LLC purchased a new stake in Travere Therapeutics in the third quarter valued at $5,692,000. GAMMA Investing LLC lifted its holdings in shares of Travere Therapeutics by 115.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,303 shares of the company's stock valued at $77,000 after buying an additional 697 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Travere Therapeutics by 1,217.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,966 shares of the company's stock valued at $234,000 after buying an additional 3,665 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Travere Therapeutics in the 2nd quarter valued at about $70,000. Finally, JW Asset Management LLC purchased a new stake in shares of Travere Therapeutics in the second quarter worth about $1,704,000.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare kidney and immune-mediated diseases. The company's work centers on conditions with limited treatment options, including IgA nephropathy (IgAN) and focal segmental glomerulosclerosis (FSGS).

Travere's lead commercial product is FILSPARI (sparsentan), an oral treatment approved in the United States for certain adults with primary IgAN who are at risk of disease progression.

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