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

Key Points

• Travere Therapeutics, Inc. (NASDAQ:TVTX) has received a consensus recommendation of "Moderate Buy" from fifteen analysts, with thirteen analysts issuing buy ratings and two holding ratings.
• The average twelve-month target price for Travere Therapeutics among analysts is currently $34.20, with estimates ranging from $20.00 to $47.00.
• Company insiders, including Elizabeth E. Reed, sold 10,000 shares recently at $25.00 each, signaling a 10.01% reduction in their stake in the company.

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) have received an average recommendation of "Moderate Buy" from the fifteen analysts that are presently covering the firm, MarketBeat reports. Two investment 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 analysts that have updated their coverage on the stock in the last year is $34.20.

A number of equities research analysts have recently issued reports on TVTX shares. HC Wainwright reiterated a "buy" rating and set a $47.00 price objective on shares of Travere Therapeutics in a research note on Friday, September 19th. Stifel Nicolaus increased their price target on shares of Travere Therapeutics from $20.00 to $25.00 and gave the company a "hold" rating in a research note on Friday, September 12th. Wall Street Zen downgraded shares of Travere Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, September 20th. Wedbush upped their target price on shares of Travere Therapeutics from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, Jefferies Financial Group set a $35.00 target price on shares of Travere Therapeutics in a research note on Wednesday, September 10th.

Insiders Place Their Bets

In other Travere Therapeutics news, insider Elizabeth E. Reed sold 10,000 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $25.00, for a total transaction of $250,000.00. Following the completion of the sale, the insider owned 89,878 shares of the company's stock, valued at $2,246,950. This trade represents a 10.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 10,573 shares of company stock valued at $260,608. 4.06% of the stock is currently owned by corporate insiders.

Institutional Trading of Travere Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC bought a new position in Travere Therapeutics in the 1st quarter valued at about $182,000. Polar Asset Management Partners Inc. bought a new position in shares of Travere Therapeutics during the first quarter worth approximately $304,000. Wellington Management Group LLP acquired a new stake in Travere Therapeutics during the 4th quarter worth approximately $583,000. Northern Trust Corp boosted its stake in Travere Therapeutics by 7.2% in the 1st quarter. Northern Trust Corp now owns 808,687 shares of the company's stock valued at $14,492,000 after purchasing an additional 54,292 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Travere Therapeutics by 166.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,103,075 shares of the company's stock valued at $16,326,000 after purchasing an additional 689,561 shares during the period.

Travere Therapeutics Stock Down 0.6%

Travere Therapeutics stock opened at $23.90 on Wednesday. The company has a current ratio of 2.00, a quick ratio of 1.98 and a debt-to-equity ratio of 9.50. Travere Therapeutics has a 1-year low of $12.91 and a 1-year high of $28.69. The company has a fifty day simple moving average of $19.66 and a 200 day simple moving average of $17.78. The company has a market cap of $2.13 billion, a P/E ratio of -11.72 and a beta of 0.79.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.