Travere Therapeutics (NASDAQ:TVTX) Rating Increased to Buy at Wall Street Zen

Key Points

• Travere Therapeutics has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting positive sentiment from multiple analysts.
• Analysts have increased their price targets for the stock, with Wedbush raising it from $30.00 to $32.00 and HC Wainwright boosting it to $47.00.
• The company reported a quarterly revenue increase of 111.5% year-over-year, although it posted a loss of ($0.14) earnings per share, surpassing analysts' expectations.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Monday.

A number of other analysts have also weighed in on the stock. Wedbush upped 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. Citigroup reaffirmed a "buy" rating on shares of Travere Therapeutics in a research note on Sunday, August 10th. Scotiabank reaffirmed an "outperform" rating on shares of Travere Therapeutics in a research note on Thursday, August 7th. Finally, HC Wainwright upped their price objective on shares of Travere Therapeutics from $30.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $33.43.

Travere Therapeutics Stock Down 1.1%

Shares of TVTX opened at $17.50 on Monday. The firm has a market capitalization of $1.56 billion, a P/E ratio of -8.58 and a beta of 0.78. Travere Therapeutics has a 12-month low of $8.98 and a 12-month high of $25.29. The company has a current ratio of 2.00, a quick ratio of 1.98 and a debt-to-equity ratio of 9.50. The firm has a fifty day moving average price of $16.36 and a 200-day moving average price of $17.39.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its 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. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The firm had revenue of $94.84 million during the quarter, compared to analyst estimates of $100.18 million. During the same period in the previous year, the firm earned ($0.65) earnings per share. The business's revenue was up 111.5% on a year-over-year basis. Equities research analysts expect that Travere Therapeutics will post -1.4 earnings per share for the current year.

Hedge Funds Weigh In On Travere Therapeutics

A number of large investors have recently added to or reduced their stakes in TVTX. Armistice Capital LLC increased its holdings in shares of Travere Therapeutics by 20.6% during the first quarter. Armistice Capital LLC now owns 8,872,000 shares of the company's stock valued at $158,986,000 after acquiring an additional 1,514,000 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Travere Therapeutics by 27.4% in 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 period. Driehaus Capital Management LLC increased its holdings in Travere Therapeutics by 24.8% in 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 period. Jacobs Levy Equity Management Inc. increased its holdings in Travere Therapeutics by 36.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company's stock worth $37,875,000 after buying an additional 583,836 shares during the period. Finally, Emerald Advisers LLC increased its holdings in Travere Therapeutics by 0.7% in 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 period.

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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