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

Key Points

• Travere Therapeutics has received a "Moderate Buy" consensus rating from 16 brokerages, with an average 12-month target price of $35.21.
• Insider Elizabeth E. Reed sold 10,000 shares for $250,000, resulting in a 10.01% decrease in her holdings.
• Several institutional investors have increased their stakes in Travere, with Armistice Capital LLC raising its position by 20.6% in the last quarter.

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the sixteen brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $35.2143.

TVTX has been the subject of a number of research reports. Stifel Nicolaus boosted their target price on shares of Travere Therapeutics from $20.00 to $25.00 and gave the company a "hold" rating in a research note on Friday, September 12th. Wedbush upped their price objective on Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. HC Wainwright restated a "buy" rating and issued a $47.00 price objective on shares of Travere Therapeutics in a research note on Friday, September 19th. Citigroup restated a "buy" rating on shares of Travere Therapeutics in a research note on Sunday, August 10th. Finally, Wells Fargo & Company upped their price objective on Travere Therapeutics from $27.00 to $35.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th.

Insider Activity at Travere Therapeutics

In other news, insider Elizabeth E. Reed sold 10,000 shares of the company's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $25.00, for a total value of $250,000.00. Following the completion of the sale, the insider directly owned 89,878 shares in the company, valued at $2,246,950. This represents a 10.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last ninety days, insiders sold 10,573 shares of company stock valued at $260,608. Corporate 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 modified their holdings of TVTX. Armistice Capital LLC increased 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. Adage Capital Partners GP L.L.C. increased its stake in Travere Therapeutics by 27.4% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company's stock worth $41,203,000 after buying an additional 599,102 shares in the last quarter. Driehaus Capital Management LLC increased its stake in Travere Therapeutics by 24.8% in the 1st quarter. Driehaus Capital Management LLC now owns 2,767,693 shares of the company's stock worth $49,597,000 after buying an additional 549,718 shares in the last quarter. Emerald Advisers LLC increased its stake in Travere Therapeutics by 0.7% in the 2nd quarter. Emerald Advisers LLC now owns 2,091,360 shares of the company's stock worth $30,952,000 after buying an additional 14,187 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Travere Therapeutics by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,003,701 shares of the company's stock worth $29,658,000 after buying an additional 27,040 shares in the last quarter.

Travere Therapeutics Price Performance

Shares of TVTX opened at $28.06 on Friday. The firm has a market cap of $2.50 billion, a PE ratio of -13.75 and a beta of 0.83. The company has a current ratio of 2.00, a quick ratio of 1.98 and a debt-to-equity ratio of 9.50. The firm has a fifty day simple moving average of $23.21 and a two-hundred day simple moving average of $18.77. Travere Therapeutics has a 1-year low of $12.91 and a 1-year high of $28.85.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.28) by $0.14. The business had revenue of $94.84 million during the quarter, compared to analyst estimates of $100.18 million. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The company's quarterly revenue was up 111.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.65) EPS. On average, equities analysts anticipate that Travere Therapeutics will post -1.4 EPS 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.

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