Wall Street Zen Downgrades Travere Therapeutics (NASDAQ:TVTX) to Hold

Key Points

• Travere Therapeutics was downgraded from a "buy" rating to a "hold" by Wall Street Zen, indicating a shift in analysts' outlook for the company.
• The company's stock has an average target price of $34.20, based on the ratings of 13 analysts who favor buying the stock.
• Travere Therapeutics reported a revenue increase of 111.5% year-over-year despite a net loss, with the latest earnings per share surpassing estimates.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

A number of other brokerages have also weighed in on TVTX. Wells Fargo & Company lifted their price objective on shares of Travere Therapeutics from $27.00 to $35.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. HC Wainwright reiterated a "buy" rating and set a $47.00 price objective on shares of Travere Therapeutics in a report on Friday. Citigroup reissued a "buy" rating on shares of Travere Therapeutics in a research report on Sunday, August 10th. Stifel Nicolaus raised their target price on shares of Travere Therapeutics from $20.00 to $25.00 and gave the company a "hold" rating in a research report on Friday, September 12th. Finally, Wedbush raised their target price on shares of Travere Therapeutics from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $34.20.

Travere Therapeutics Trading Down 0.9%

Shares of Travere Therapeutics stock traded down $0.23 during trading on Friday, hitting $25.21. The stock had a trading volume of 90,636 shares, compared to its average volume of 1,785,058. Travere Therapeutics has a 12 month low of $12.91 and a 12 month high of $28.69. The firm's fifty day simple moving average is $18.67 and its 200-day simple moving average is $17.54. The stock has a market cap of $2.25 billion, a PE ratio of -12.36 and a beta of 0.78. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings data 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. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The company had revenue of $94.84 million during the quarter, compared to analyst estimates of $100.18 million. During the same quarter last year, the business posted ($0.65) EPS. The firm's revenue for the quarter was up 111.5% on a year-over-year basis. As a group, sell-side analysts expect that Travere Therapeutics will post -1.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Travere Therapeutics

Large investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. acquired a new position in Travere Therapeutics during the fourth quarter worth $31,000. Raymond James Financial Inc. acquired a new stake in shares of Travere Therapeutics in the second quarter valued at about $33,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Travere Therapeutics in the first quarter valued at about $62,000. Headlands Technologies LLC acquired a new stake in shares of Travere Therapeutics in the second quarter valued at about $73,000. Finally, KBC Group NV acquired a new stake in shares of Travere Therapeutics in the first quarter valued at about $75,000.

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.