Travere Therapeutics (NASDAQ:TVTX) Raised to Strong-Buy at Zacks Research

Key Points

• Travere Therapeutics (NASDAQ:TVTX) has been upgraded to a "strong-buy" rating by Zacks Research from a previous "hold" rating.
• Analysts have set a consensus price target of $35.21 for the stock, with an overall consensus rating of "Moderate Buy."
• Insider Elizabeth E. Reed sold 10,000 shares at $25.00 each, indicating a 10.01% decrease in her position, amidst a backdrop of mixed analyst ratings and recent institutional investments.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Tuesday,Zacks.com reports.

TVTX has been the subject of a number of other reports. Wedbush increased their price objective on shares of Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Wells Fargo & Company boosted their price target on Travere Therapeutics from $27.00 to $35.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. Stifel Nicolaus upped their price objective on Travere Therapeutics from $20.00 to $25.00 and gave the company a "hold" rating in a research note on Friday, September 12th. Jefferies Financial Group set a $35.00 target price on Travere Therapeutics in a research note on Wednesday, September 10th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Travere Therapeutics in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.21.

Travere Therapeutics Trading Up 2.7%

Travere Therapeutics stock opened at $26.85 on Tuesday. The firm has a 50-day moving average of $21.80 and a 200-day moving average of $18.18. Travere Therapeutics has a one year low of $12.91 and a one year high of $28.69. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -13.16 and a beta of 0.83.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) EPS for the quarter, topping 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 the consensus estimate of $100.18 million. During the same period in the prior year, the business posted ($0.65) EPS. The company's quarterly revenue was up 111.5% on a year-over-year basis. On average, equities analysts expect that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 value of $250,000.00. Following the transaction, the insider directly owned 89,878 shares of the company's stock, valued at $2,246,950. This represents a 10.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 10,573 shares of company stock valued at $260,608. 4.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in Travere Therapeutics in the 2nd quarter valued at about $33,000. Caitong International Asset Management Co. Ltd bought a new position in Travere Therapeutics in the 1st quarter valued at about $62,000. KBC Group NV bought a new position in Travere Therapeutics in the 1st quarter valued at about $75,000. Headlands Technologies LLC bought a new position in shares of Travere Therapeutics during the second quarter worth approximately $73,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Travere Therapeutics during the first quarter worth approximately $182,000.

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.

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