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

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) has been given an average rating of "Moderate Buy" by the fifteen research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $32.14.

TVTX has been the topic of several research reports. Guggenheim reissued a "buy" rating and issued a $47.00 price target on shares of Travere Therapeutics in a research report on Monday, April 14th. Wedbush reissued an "outperform" rating and issued a $30.00 price target on shares of Travere Therapeutics in a research report on Friday, May 16th. HC Wainwright reissued a "buy" rating and issued a $30.00 price target on shares of Travere Therapeutics in a research report on Tuesday, July 1st. Stifel Nicolaus boosted their price target on shares of Travere Therapeutics from $22.00 to $23.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. Finally, Scotiabank reissued an "outperform" rating on shares of Travere Therapeutics in a research report on Friday, April 11th.

Insiders Place Their Bets

In other Travere Therapeutics news, CFO Christopher R. Cline sold 1,784 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $37,553.20. Following the completion of the transaction, the chief financial officer owned 93,126 shares of the company's stock, valued at $1,960,302.30. The trade was a 1.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric M. Dube sold 18,924 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $398,350.20. Following the completion of the transaction, the chief executive officer directly owned 419,173 shares of the company's stock, valued at approximately $8,823,591.65. This represents a 4.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,294 shares of company stock valued at $485,123 in the last quarter. Corporate insiders own 4.06% of the company's stock.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Armistice Capital LLC grew its stake in Travere Therapeutics by 20.6% in the 1st quarter. Armistice Capital LLC now owns 8,872,000 shares of the company's stock worth $158,986,000 after buying an additional 1,514,000 shares in the last quarter. Rock Springs Capital Management LP boosted its stake in shares of Travere Therapeutics by 6.2% in the 4th quarter. Rock Springs Capital Management LP now owns 4,973,649 shares of the company's stock valued at $86,641,000 after purchasing an additional 289,173 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Travere Therapeutics by 24.8% in the 1st quarter. Driehaus Capital Management LLC now owns 2,767,693 shares of the company's stock valued at $49,597,000 after purchasing an additional 549,718 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Travere Therapeutics by 28.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company's stock valued at $41,974,000 after purchasing an additional 534,500 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Travere Therapeutics by 479.9% in the 1st 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 purchasing an additional 1,808,098 shares in the last quarter.

Travere Therapeutics Stock Performance

TVTX stock traded down $0.29 during mid-day trading on Friday, hitting $15.82. The company had a trading volume of 1,165,119 shares, compared to its average volume of 1,616,463. The firm has a market cap of $1.40 billion, a PE ratio of -5.63 and a beta of 0.72. The company has a debt-to-equity ratio of 9.46, a quick ratio of 2.03 and a current ratio of 2.05. Travere Therapeutics has a 12 month low of $7.93 and a 12 month high of $25.29. The stock's fifty day moving average price is $15.87 and its two-hundred day moving average price is $18.05.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.08. Travere Therapeutics had a negative net margin of 82.88% and a negative return on equity of 1,179.73%. The company had revenue of $81.73 million for the quarter, compared to analyst estimates of $77.44 million. During the same quarter in the previous year, the firm posted ($1.76) earnings per share. The company's quarterly revenue was up 83.3% compared to the same quarter last year. On average, analysts forecast that Travere Therapeutics will post -1.4 earnings per share for the current fiscal 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.