Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives Average Rating of "Moderate Buy" from Analysts

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.

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) has been given a consensus rating of "Moderate Buy" by the fifteen brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $33.4286.

TVTX has been the subject of several analyst reports. Scotiabank reiterated an "outperform" rating on shares of Travere Therapeutics in a research note on Thursday, August 7th. Citigroup reaffirmed a "buy" rating on shares of Travere Therapeutics in a report on Sunday, August 10th. Wall Street Zen upgraded Travere Therapeutics from a "hold" rating to a "buy" rating in a research note on Monday, September 1st. Wedbush increased their price target on Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $47.00 price objective on shares of Travere Therapeutics in a report on Wednesday.

Travere Therapeutics Stock Performance

Shares of NASDAQ TVTX opened at $21.64 on Friday. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98. The stock's fifty day moving average price is $16.83 and its two-hundred day moving average price is $17.35. Travere Therapeutics has a one year low of $10.64 and a one year high of $25.29. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of -10.61 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) earnings per share for the quarter, topping analysts' consensus estimates of ($0.28) by $0.14. The company had revenue of $94.84 million during the quarter, compared to the consensus estimate of $100.18 million. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The company's revenue was up 111.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.65) earnings per share. On average, equities analysts forecast that Travere Therapeutics will post -1.4 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TVTX. Driehaus Capital Management LLC grew its stake in Travere Therapeutics by 608.1% during the fourth quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company's stock worth $38,637,000 after buying an additional 1,904,733 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Travere Therapeutics by 479.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,184,898 shares of the company's stock worth $39,153,000 after acquiring an additional 1,808,098 shares during the period. Armistice Capital LLC lifted its holdings in shares of Travere Therapeutics by 20.6% during the 1st quarter. Armistice Capital LLC now owns 8,872,000 shares of the company's stock worth $158,986,000 after acquiring an additional 1,514,000 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Travere Therapeutics during the 4th quarter worth approximately $21,075,000. Finally, Nuveen LLC bought a new position in Travere Therapeutics in the first quarter valued at approximately $21,569,000.

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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