Travere Therapeutics (NASDAQ:TVTX) Reaches New 1-Year High - Should You Buy?

Key Points

• Travere Therapeutics shares have reached a new 52-week high, trading at $26.63 after previously closing at $21.64, with a trading volume of 326,364 shares.
• Numerous analysts have upgraded their ratings on Travere Therapeutics, with 13 analysts rating the stock as a Buy and a consensus target price of $33.43.
• The company's quarterly earnings report showed a revenue increase of 111.5% year-over-year, although it still reported a loss of $0.14 per share, surpassing analyst expectations of a higher loss.

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $25.55 and last traded at $26.63, with a volume of 326364 shares traded. The stock had previously closed at $21.64.

Analyst Ratings Changes

Several analysts have recently commented on TVTX shares. Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a research note on Thursday, August 7th. Wells Fargo & Company raised their target price on shares of Travere Therapeutics from $27.00 to $35.00 and gave the stock an "overweight" rating in a research note on Thursday. HC Wainwright restated a "buy" rating and issued a $47.00 target price on shares of Travere Therapeutics in a research note on Wednesday. Wall Street Zen upgraded shares of Travere Therapeutics from a "hold" rating to a "buy" rating in a research note on Monday, September 1st. Finally, Jefferies Financial Group set a $35.00 target price on shares of Travere Therapeutics in a research note on Wednesday. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Travere Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $34.20.

Travere Therapeutics Price Performance

The stock's fifty day moving average price is $17.72 and its 200-day moving average price is $17.40. The company has a debt-to-equity ratio of 9.50, a quick ratio of 1.98 and a current ratio of 2.00. The firm has a market cap of $2.09 billion, a PE ratio of -11.50 and a beta of 0.79.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted 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 firm had revenue of $94.84 million during the quarter, compared to the consensus estimate of $100.18 million. During the same period last year, the firm posted ($0.65) EPS. The firm's revenue for the quarter was up 111.5% on a year-over-year basis. As a group, equities analysts forecast that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. purchased a new position in Travere Therapeutics during the 4th quarter valued at about $31,000. Raymond James Financial Inc. purchased a new position in Travere Therapeutics during the 2nd quarter valued at about $33,000. Caitong International Asset Management Co. Ltd purchased a new position in Travere Therapeutics during the 1st quarter valued at about $62,000. KBC Group NV purchased a new position in Travere Therapeutics during the 1st quarter valued at about $75,000. Finally, Headlands Technologies LLC purchased a new position in Travere Therapeutics during the 2nd quarter valued at about $73,000.

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.