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

Key Points

• Travere Therapeutics, Inc. has received a consensus rating of "Moderate Buy" from fifteen analysts, with thirteen issuing buy ratings and two holds.
• The average twelve-month target price for the stock is approximately $32.21, with notable analysts like Guggenheim targeting $47.00 and Wedbush increasing their target to $32.00.
• Institutional investors have significantly increased their holdings in Travere Therapeutics, with Driehaus Capital Management raising its position by 608.1% in the last quarter.

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $32.2143.

Several research firms have commented on TVTX. Scotiabank reaffirmed an "outperform" rating on shares of Travere Therapeutics in a report on Thursday. Citigroup reissued a "buy" rating on shares of Travere Therapeutics in a report on Sunday. Cantor Fitzgerald reissued an "overweight" rating on shares of Travere Therapeutics in a report on Wednesday, April 23rd. Guggenheim reissued a "buy" rating and issued a $47.00 price target on shares of Travere Therapeutics in a report on Monday, April 14th. Finally, Wedbush increased their price target on shares of Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TVTX. Driehaus Capital Management LLC increased its position in shares of Travere Therapeutics by 608.1% in the fourth quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company's stock worth $38,637,000 after purchasing an additional 1,904,733 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in Travere Therapeutics by 479.9% during the first quarter. Adage Capital Partners GP L.L.C. now owns 2,184,898 shares of the company's stock valued at $39,153,000 after acquiring an additional 1,808,098 shares during the last quarter. Armistice Capital LLC grew its position in Travere Therapeutics by 20.6% during the first quarter. Armistice Capital LLC now owns 8,872,000 shares of the company's stock valued at $158,986,000 after acquiring an additional 1,514,000 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Travere Therapeutics during the fourth quarter valued at approximately $21,075,000. Finally, Nuveen LLC bought a new position in Travere Therapeutics during the first quarter valued at approximately $21,569,000.

Travere Therapeutics Price Performance

NASDAQ TVTX opened at $17.28 on Tuesday. The company has a market cap of $1.54 billion, a PE ratio of -8.47 and a beta of 0.74. Travere Therapeutics has a 52 week low of $8.31 and a 52 week high of $25.29. The company has a quick ratio of 1.98, a current ratio of 2.00 and a debt-to-equity ratio of 9.50. The firm's 50-day simple moving average is $15.49 and its two-hundred day simple moving average is $17.74.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.14. The business had revenue of $94.84 million for the quarter, compared to the consensus estimate of $100.18 million. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The company's revenue was up 111.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.65) earnings per share. Research analysts predict that Travere Therapeutics will post -1.4 earnings per share 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.

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