Travere Therapeutics (NASDAQ:TVTX) Downgraded by Wall Street Zen 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 research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Other equities research analysts also recently issued research reports about the company. Citigroup reaffirmed a "buy" rating on shares of Travere Therapeutics in a report on Sunday, August 10th. Scotiabank reissued an "outperform" rating on shares of Travere Therapeutics in a report on Thursday, August 7th. Jefferies Financial Group set a $35.00 target price on Travere Therapeutics in a report on Wednesday, September 10th. Stifel Nicolaus lifted their target price on Travere Therapeutics from $20.00 to $25.00 and gave the stock a "hold" rating in a report on Friday, September 12th. Finally, HC Wainwright reissued a "buy" rating and set a $47.00 target price on shares of Travere Therapeutics in a report on Friday. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $34.20.

Travere Therapeutics Price Performance

Shares of TVTX opened at $24.85 on Friday. Travere Therapeutics has a twelve month low of $12.91 and a twelve month high of $28.69. The company has a quick ratio of 1.98, a current ratio of 2.00 and a debt-to-equity ratio of 9.50. The company has a 50 day moving average of $18.50 and a 200-day moving average of $17.51. The stock has a market capitalization of $2.22 billion, a P/E ratio of -12.18 and a beta of 0.79.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $94.84 million during the quarter, compared to analysts' expectations of $100.18 million. During the same period last year, the business earned ($0.65) earnings per share. The firm's revenue was up 111.5% on a year-over-year basis. As a group, equities research analysts forecast that Travere Therapeutics will post -1.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC bought a new position in Travere Therapeutics in the first quarter valued at about $182,000. Polar Asset Management Partners Inc. bought a new position in Travere Therapeutics in the first quarter valued at about $304,000. Wellington Management Group LLP bought a new position in Travere Therapeutics in the fourth quarter valued at about $583,000. Northern Trust Corp grew its position in Travere Therapeutics by 7.2% in the first quarter. Northern Trust Corp now owns 808,687 shares of the company's stock valued at $14,492,000 after acquiring an additional 54,292 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Travere Therapeutics by 7.9% in the first quarter. Bank of New York Mellon Corp now owns 233,942 shares of the company's stock valued at $4,192,000 after acquiring an additional 17,079 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.

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