Travere Therapeutics, Inc. (NASDAQ:TVTX) Given Average Rating of "Moderate Buy" by Brokerages

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) has earned an average rating of "Moderate Buy" from the fifteen research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $32.14.

TVTX has been the topic of several analyst reports. HC Wainwright upgraded Travere Therapeutics to a "buy" rating and set a $30.00 price target on the stock in a report on Wednesday, June 11th. Bank of America lifted their price target on Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Scotiabank reissued an "outperform" rating on shares of Travere Therapeutics in a research report on Friday, April 11th. Cantor Fitzgerald reissued an "overweight" rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. Finally, Citigroup cut their price objective on Travere Therapeutics from $35.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, CFO Christopher R. Cline sold 1,784 shares of Travere Therapeutics stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $37,553.20. Following the completion of the transaction, the chief financial officer now directly owns 93,126 shares of the company's stock, valued at $1,960,302.30. The trade was a 1.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric M. Dube sold 18,924 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $398,350.20. Following the transaction, the chief executive officer now directly owns 419,173 shares of the company's stock, valued at approximately $8,823,591.65. This represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,527 shares of company stock valued at $473,814 in the last three months. 4.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Travere Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE grew its position in shares of Travere Therapeutics by 323.4% during the fourth quarter. US Bancorp DE now owns 31,795 shares of the company's stock worth $554,000 after buying an additional 24,286 shares in the last quarter. Northern Trust Corp grew its position in shares of Travere Therapeutics by 11.3% during the fourth quarter. Northern Trust Corp now owns 754,395 shares of the company's stock worth $13,142,000 after buying an additional 76,358 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Travere Therapeutics during the fourth quarter worth about $583,000. Swiss National Bank grew its position in shares of Travere Therapeutics by 12.8% during the fourth quarter. Swiss National Bank now owns 151,900 shares of the company's stock worth $2,646,000 after buying an additional 17,200 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Travere Therapeutics by 3.6% during the fourth quarter. Bank of New York Mellon Corp now owns 216,863 shares of the company's stock worth $3,778,000 after buying an additional 7,513 shares in the last quarter.

Travere Therapeutics Stock Down 0.7%

NASDAQ TVTX opened at $14.31 on Monday. Travere Therapeutics has a 52 week low of $7.36 and a 52 week high of $25.29. The company has a quick ratio of 2.03, a current ratio of 2.05 and a debt-to-equity ratio of 9.46. The business's fifty day simple moving average is $16.90 and its 200-day simple moving average is $18.36. The firm has a market cap of $1.27 billion, a PE ratio of -5.09 and a beta of 0.75.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.08. Travere Therapeutics had a negative return on equity of 1,179.73% and a negative net margin of 82.88%. The business had revenue of $81.73 million for the quarter, compared to analyst estimates of $77.44 million. During the same quarter in the previous year, the firm earned ($1.76) EPS. The company's quarterly revenue was up 83.3% compared to the same quarter last year. As a group, equities analysts anticipate that Travere Therapeutics will post -1.4 earnings per share for the current year.

Travere Therapeutics Company Profile

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.

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