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

Key Points

• Travere Therapeutics has a consensus analyst rating of “Moderate Buy”, with 10 buy ratings, 2 holds, and 1 sell among 13 analysts. The average 12-month price target is about $47.83.
• Several analysts recently raised their price targets, including Wells Fargo to $50 and Citigroup to $59, while Piper Sandler upgraded the stock to overweight. JPMorgan was more cautious, trimming its target to $41.
• The company reported better-than-expected EPS of $0.05 for the latest quarter, though revenue came in slightly below estimates at $127.2 million. Shares were trading near $44.55, close to the stock’s 52-week high of $48.61.

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) have received a consensus rating of "Moderate Buy" from the thirteen analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $47.8333.

A number of research analysts have weighed in on TVTX shares. Wells Fargo & Company increased their price target on Travere Therapeutics from $40.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Canaccord Genuity Group increased their price target on Travere Therapeutics from $47.00 to $56.00 and gave the stock a "buy" rating in a research note on Tuesday, April 14th. JPMorgan Chase & Co. cut their target price on Travere Therapeutics from $44.00 to $41.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 25th. Citigroup increased their target price on Travere Therapeutics from $53.00 to $59.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Finally, Piper Sandler raised Travere Therapeutics from a "neutral" rating to an "overweight" rating and set a $49.00 target price on the stock in a research report on Tuesday, April 14th.

Insiders Place Their Bets

In related news, insider Elizabeth E. Reed sold 44,715 shares of the stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $41.21, for a total value of $1,842,705.15. Following the transaction, the insider directly owned 111,996 shares of the company's stock, valued at approximately $4,615,355.16. This trade represents a 28.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Sandra Calvin sold 21,977 shares of the stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $41.07, for a total value of $902,595.39. Following the completion of the transaction, the chief accounting officer directly owned 42,353 shares in the company, valued at $1,739,437.71. This trade represents a 34.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 400,015 shares of company stock worth $15,895,428. Corporate insiders own 4.44% of the company's stock.

Institutional Trading of Travere Therapeutics

Several large investors have recently added to or reduced their stakes in TVTX. Stephens Investment Management Group LLC acquired a new stake in Travere Therapeutics in the 3rd quarter valued at $38,232,000. State Street Corp increased its holdings in Travere Therapeutics by 47.8% in the 4th quarter. State Street Corp now owns 4,756,666 shares of the company's stock valued at $181,752,000 after purchasing an additional 1,538,827 shares in the last quarter. Wellington Management Group LLP increased its holdings in Travere Therapeutics by 3,331.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company's stock valued at $28,715,000 after purchasing an additional 1,166,460 shares in the last quarter. Fiera Capital Corp acquired a new stake in Travere Therapeutics in the 4th quarter valued at $33,398,000. Finally, Perceptive Advisors LLC acquired a new stake in Travere Therapeutics in the 2nd quarter valued at $12,347,000.

Travere Therapeutics Price Performance

TVTX stock opened at $44.55 on Thursday. Travere Therapeutics has a 1 year low of $13.88 and a 1 year high of $48.61. The firm has a market cap of $4.14 billion, a P/E ratio of -193.69 and a beta of 1.13. The stock's 50 day moving average price is $33.93 and its 200 day moving average price is $33.38. The company has a debt-to-equity ratio of 3.16, a quick ratio of 3.08 and a current ratio of 3.13.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of ($0.24) by $0.29. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The company had revenue of $127.20 million for the quarter, compared to analyst estimates of $136.23 million. During the same quarter in the prior year, the company posted ($0.47) EPS. The business's revenue for the quarter was up 55.6% compared to the same quarter last year. On average, sell-side analysts expect that Travere Therapeutics will post -0.26 earnings per share for the current fiscal year.

About Travere Therapeutics

Travere Therapeutics, Inc NASDAQ: TVTX is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company's mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company's lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.

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