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

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) has been assigned an average rating of "Moderate Buy" from the fifteen ratings firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $31.79.

A number of analysts have weighed in on the stock. Evercore ISI increased their price target on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Scotiabank reaffirmed an "outperform" rating on shares of Travere Therapeutics in a report on Friday, April 11th. Citigroup reaffirmed a "buy" rating on shares of Travere Therapeutics in a report on Friday, May 16th. Canaccord Genuity Group raised their price objective on shares of Travere Therapeutics from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, April 10th. Finally, Guggenheim reaffirmed a "buy" rating and set a $47.00 price objective on shares of Travere Therapeutics in a report on Monday, April 14th.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 18,924 shares of Travere Therapeutics 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 $398,350.20. Following the transaction, the chief executive officer now owns 419,173 shares of the company's stock, valued at approximately $8,823,591.65. The trade was a 4.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Peter Heerma sold 1,771 shares of Travere Therapeutics stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $37,279.55. Following the completion of the transaction, the insider now directly owns 128,215 shares in the company, valued at approximately $2,698,925.75. The trade was a 1.36% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,527 shares of company stock valued at $473,814. 4.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Armistice Capital LLC raised its holdings in shares of Travere Therapeutics by 20.6% in the first quarter. Armistice Capital LLC now owns 8,872,000 shares of the company's stock valued at $158,986,000 after purchasing an additional 1,514,000 shares during the last quarter. Rock Springs Capital Management LP raised its holdings in shares of 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 raised its holdings in shares of 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 raised its holdings in shares of 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. raised its holdings in shares of Travere Therapeutics by 479.9% in the first 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 during the last quarter.

Travere Therapeutics Stock Performance

Shares of NASDAQ TVTX traded up $0.50 during trading hours on Thursday, hitting $15.52. 1,561,172 shares of the stock were exchanged, compared to its average volume of 1,587,858. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The company's 50 day moving average is $17.27 and its 200 day moving average is $18.74. The firm has a market capitalization of $1.38 billion, a P/E ratio of -3.79 and a beta of 0.88. Travere Therapeutics has a one year low of $6.80 and a one year high of $25.29.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share for the quarter, beating analysts' consensus estimates of ($0.55) by $0.08. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The firm had revenue of $81.73 million during the quarter, compared to the consensus estimate of $77.44 million. During the same period in the prior year, the firm earned ($1.76) EPS. The business's revenue was up 83.3% on a year-over-year basis. On average, research analysts expect that Travere Therapeutics will post -1.4 EPS for the current 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.