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

Key Points

• Travere Therapeutics has received a "sell (E+)" rating from Weiss Ratings, indicating a cautious outlook from this particular analyst.
• Despite the sell rating, other analysts have given Travere a consensus rating of "Moderate Buy," with target prices ranging from $32.00 to $47.00.
• The company's stock experienced a midday trading drop, reaching $28.06, following a significant increase in quarterly revenue year-over-year.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

TVTX has been the subject of several other reports. Wells Fargo & Company boosted their price objective on Travere Therapeutics from $27.00 to $35.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. Jefferies Financial Group set a $35.00 price objective on Travere Therapeutics in a research report on Wednesday, September 10th. HC Wainwright reiterated a "buy" rating and set a $47.00 price objective on shares of Travere Therapeutics in a research report on Friday, September 19th. Wedbush boosted their price objective on Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded Travere Therapeutics from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $35.21.

Travere Therapeutics Stock Performance

TVTX stock traded down $0.09 during midday trading on Friday, reaching $28.06. The company had a trading volume of 1,304,120 shares, compared to its average volume of 1,761,000. 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 stock has a 50 day moving average price of $23.21 and a 200 day moving average price of $18.74. Travere Therapeutics has a fifty-two week low of $12.91 and a fifty-two week high of $28.85. The firm has a market capitalization of $2.50 billion, a PE ratio of -13.75 and a beta of 0.83.

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

Insider Buying and Selling

In related news, insider Elizabeth E. Reed sold 10,000 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $25.00, for a total transaction of $250,000.00. Following the sale, the insider owned 89,878 shares of the company's stock, valued at $2,246,950. The trade was a 10.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 10,573 shares of company stock worth $260,608 over the last quarter. 4.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its holdings in shares of Travere Therapeutics by 37.7% in the third quarter. SG Americas Securities LLC now owns 43,950 shares of the company's stock valued at $1,050,000 after buying an additional 12,024 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Travere Therapeutics by 70.0% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 36,810 shares of the company's stock valued at $880,000 after buying an additional 15,151 shares in the last quarter. Diversified Trust Co increased its holdings in shares of Travere Therapeutics by 3.5% in the third quarter. Diversified Trust Co now owns 23,695 shares of the company's stock valued at $566,000 after buying an additional 796 shares in the last quarter. CWM LLC increased its holdings in shares of Travere Therapeutics by 265.1% in the third quarter. CWM LLC now owns 11,459 shares of the company's stock valued at $274,000 after buying an additional 8,320 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of Travere Therapeutics by 16.2% in the third quarter. Voya Investment Management LLC now owns 194,854 shares of the company's stock valued at $4,657,000 after buying an additional 27,133 shares in 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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