Travere Therapeutics (NASDAQ:TVTX) Shares Down 4.8% - Should You Sell?

Key Points

• Travere Therapeutics' stock price fell 4.8% recently, trading as low as $26.01 and experiencing a significant drop in volume, with only 492,671 shares traded compared to an average of 1.74 million shares.
• Despite the recent decline, analysts have generally maintained a positive outlook, with several firms issuing "buy" ratings and setting price targets between $35.00 and $47.00.
• The company reported a revenue increase of 111.5% year-over-year, with quarterly earnings of $94.84 million, albeit falling short of analyst expectations.

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report)'s share price dropped 4.8% on Thursday . The stock traded as low as $26.32 and last traded at $26.01. Approximately 492,671 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 1,743,435 shares. The stock had previously closed at $27.31.

Analyst Ratings Changes

Several equities research analysts have commented on TVTX shares. Citigroup reiterated a "buy" rating on shares of Travere Therapeutics in a research note on Sunday, August 10th. HC Wainwright reiterated a "buy" rating and issued a $47.00 price objective on shares of Travere Therapeutics in a report on Wednesday. Jefferies Financial Group set a $35.00 price target on Travere Therapeutics in a research note on Wednesday. Scotiabank reiterated an "outperform" rating on shares of Travere Therapeutics in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded Travere Therapeutics from a "hold" rating to a "buy" rating in a research note on Monday, September 1st. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $34.07.

Travere Therapeutics Stock Performance

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 fifty day moving average of $17.35 and a 200-day moving average of $17.36. The stock has a market cap of $2.25 billion, a PE ratio of -12.38 and a beta of 0.79.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TVTX. Northern Trust Corp raised its position in shares of Travere Therapeutics by 11.3% during the 4th quarter. Northern Trust Corp now owns 754,395 shares of the company's stock worth $13,142,000 after purchasing an additional 76,358 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Travere Therapeutics by 132.6% during the 4th quarter. Ameriprise Financial Inc. now owns 285,350 shares of the company's stock valued at $4,971,000 after buying an additional 162,649 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Travere Therapeutics by 23.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,946 shares of the company's stock valued at $869,000 after buying an additional 9,481 shares during the period. Millennium Management LLC grew its stake in shares of Travere Therapeutics by 446.2% during the 4th quarter. Millennium Management LLC now owns 626,056 shares of the company's stock valued at $10,906,000 after buying an additional 511,443 shares during the period. Finally, Man Group plc grew its stake in shares of Travere Therapeutics by 246.8% during the 4th quarter. Man Group plc now owns 88,241 shares of the company's stock valued at $1,537,000 after buying an additional 62,798 shares during the period.

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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