Analysts Set Travere Therapeutics, Inc. (NASDAQ:TVTX) Price Target at $33.43

Key Points

• Travere Therapeutics has received a consensus rating of "Moderate Buy" from analysts, with 13 buy and 2 hold recommendations from the 15 brokerages covering the stock.
• The company's stock currently has an average 1-year target price of $33.43 and opened at $21.64 recently, with a market cap of $1.93 billion.
• Travere Therapeutics reported a 111.5% increase in revenue year-over-year, generating $94.84 million during the last quarter, despite a per-share earnings report of ($0.14) which exceeded expectations.

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) have received a consensus rating of "Moderate Buy" from the fifteen brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $34.0667.

A number of analysts have weighed in on the company. Citigroup restated a "buy" rating on shares of Travere Therapeutics in a report on Sunday, August 10th. Jefferies Financial Group set a $35.00 price objective on Travere Therapeutics in a research note on Wednesday. Wall Street Zen upgraded Travere Therapeutics from a "hold" rating to a "buy" rating in a research note on Monday, September 1st. Wells Fargo & Company boosted their target price on shares of Travere Therapeutics from $27.00 to $35.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, HC Wainwright restated a "buy" rating and issued a $47.00 price target on shares of Travere Therapeutics in a report on Wednesday.

Hedge Funds Weigh In On Travere Therapeutics

A number of large investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new stake in shares of Travere Therapeutics during the 4th quarter valued at $31,000. Raymond James Financial Inc. purchased a new stake in Travere Therapeutics in the second quarter valued at about $33,000. Caitong International Asset Management Co. Ltd acquired a new stake in Travere Therapeutics in the first quarter worth about $62,000. KBC Group NV acquired a new stake in Travere Therapeutics in the first quarter worth about $75,000. Finally, Gen Wealth Partners Inc purchased a new stake in shares of Travere Therapeutics during the fourth quarter worth about $73,000.

Travere Therapeutics Stock Down 8.5%

NASDAQ:TVTX traded down $2.31 during mid-day trading on Friday, reaching $25.00. The company's stock had a trading volume of 4,108,699 shares, compared to its average volume of 2,442,717. The company has a quick ratio of 1.98, a current ratio of 2.00 and a debt-to-equity ratio of 9.50. Travere Therapeutics has a 1 year low of $11.89 and a 1 year high of $28.69. The stock has a fifty day moving average of $17.55 and a 200-day moving average of $17.38. The firm has a market capitalization of $2.23 billion, a PE ratio of -12.25 and a beta of 0.79.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.28) by $0.14. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The business had revenue of $94.84 million for the quarter, compared to the consensus estimate of $100.18 million. During the same quarter last year, the firm posted ($0.65) EPS. The company's revenue for the quarter was up 111.5% on a year-over-year basis. Equities research analysts forecast 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.