Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives $32.14 Consensus PT from Analysts

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the fifteen ratings firms that are presently covering the stock, 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 12 month price objective among brokerages that have covered the stock in the last year is $32.14.

A number of research analysts recently weighed in on the stock. Canaccord Genuity Group increased their price objective on shares of Travere Therapeutics from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Thursday, April 10th. Bank of America increased their price objective on shares of Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. Guggenheim reissued a "buy" rating and issued a $47.00 price objective on shares of Travere Therapeutics in a research note on Monday, April 14th. Wedbush reaffirmed an "outperform" rating and set a $30.00 target price on shares of Travere Therapeutics in a research note on Friday, May 16th. Finally, Scotiabank reissued an "outperform" rating on shares of Travere Therapeutics in a research note on Friday, April 11th.

Travere Therapeutics Stock Performance

Shares of TVTX stock traded down $0.40 during trading on Friday, reaching $16.11. 1,443,829 shares of the company's stock traded hands, compared to its average volume of 1,618,276. The company has a market capitalization of $1.43 billion, a P/E ratio of -5.73 and a beta of 0.72. The company has a current ratio of 2.05, a quick ratio of 2.03 and a debt-to-equity ratio of 9.46. The firm's 50-day moving average is $15.87 and its 200 day moving average is $18.06. Travere Therapeutics has a 1 year low of $7.93 and a 1 year high of $25.29.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) 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 firm had revenue of $81.73 million during the quarter, compared to the consensus estimate of $77.44 million. During the same period last year, the firm earned ($1.76) EPS. The business's quarterly revenue was up 83.3% compared to the same quarter last year. Equities research analysts expect that Travere Therapeutics will post -1.4 EPS for the current year.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, CFO Christopher R. Cline sold 1,784 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $37,553.20. Following the completion of the transaction, the chief financial officer directly owned 93,126 shares in the company, valued at approximately $1,960,302.30. This represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Peter Heerma sold 1,771 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $37,279.55. Following the transaction, the insider owned 128,215 shares of the company's stock, valued at $2,698,925.75. This represents a 1.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,294 shares of company stock valued at $485,123 in the last 90 days. Insiders own 4.19% of the company's stock.

Institutional Investors Weigh In On Travere Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of TVTX. Armistice Capital LLC lifted its position in shares of Travere Therapeutics by 20.6% during the first quarter. Armistice Capital LLC now owns 8,872,000 shares of the company's stock worth $158,986,000 after purchasing an additional 1,514,000 shares in the last quarter. Rock Springs Capital Management LP increased its stake in Travere Therapeutics by 6.2% in the fourth 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 during the last quarter. Driehaus Capital Management LLC increased its stake in Travere Therapeutics by 24.8% in the first 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 during the last quarter. Renaissance Technologies LLC increased its stake in Travere Therapeutics by 28.5% in the fourth 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 during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of Travere Therapeutics by 479.9% during the first 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 last quarter.

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.