Travere Therapeutics (NASDAQ:TVTX) Given Sell (E+) Rating at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "sell (e+)" rating for Travere Therapeutics (NASDAQ:TVTX), indicating ongoing concerns over the stock's performance.
• Analysts have conflicting views on the stock, with a consensus rating of "Moderate Buy" and an average price target of $35.21, while twelve analysts have rated it as a buy.
• Travere Therapeutics reported a significant increase in revenue, with a year-over-year growth of 111.5%, despite posting a loss of ($0.14) earnings per share for the recent quarter.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report)'s stock had its "sell (e+)" rating reiterated by Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research firms also recently issued reports on TVTX. Wedbush upped their price target on shares of Travere Therapeutics from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Citigroup reissued a "buy" rating on shares of Travere Therapeutics in a research note on Sunday, August 10th. HC Wainwright reissued a "buy" rating and issued a $47.00 target price on shares of Travere Therapeutics in a research note on Friday, September 19th. Jefferies Financial Group set a $35.00 target price on shares of Travere Therapeutics in a research note on Wednesday, September 10th. Finally, Wall Street Zen raised shares of Travere Therapeutics from a "hold" rating to a "buy" rating in a research note on Saturday. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $35.21.

Travere Therapeutics Price Performance

Shares of TVTX stock traded up $0.70 during mid-day trading on Wednesday, hitting $26.20. The company had a trading volume of 1,522,584 shares, compared to its average volume of 2,699,630. The company has a market capitalization of $2.34 billion, a P/E ratio of -12.84 and a beta of 0.83. The stock's 50 day moving average price is $20.81 and its 200-day moving average price is $18.00. 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 has a 52-week low of $12.91 and a 52-week high of $28.69.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.28) by $0.14. The company had revenue of $94.84 million for the quarter, compared to the consensus estimate of $100.18 million. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. Travere Therapeutics's revenue was up 111.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.65) earnings per share. Equities research analysts forecast that Travere Therapeutics will post -1.4 earnings per share for the current year.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, insider Elizabeth E. Reed sold 10,000 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $25.00, for a total transaction of $250,000.00. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 10,573 shares of company stock worth $260,608. 4.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Armistice Capital LLC raised its position in shares of Travere Therapeutics by 20.6% in the 1st 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. Adage Capital Partners GP L.L.C. raised its position in Travere Therapeutics by 27.4% during 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 during the last quarter. Driehaus Capital Management LLC raised its position in Travere Therapeutics by 24.8% during 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 during the last quarter. Emerald Advisers LLC raised its position in Travere Therapeutics by 0.7% during 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 during the last quarter. Finally, Geode Capital Management LLC raised its position in Travere Therapeutics by 1.4% during 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 during the last quarter.

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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