Travere Therapeutics (NASDAQ:TVTX) Stock Price Down 4.8% - Time to 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) shares were down 4.8% on Thursday . The company traded as low as $26.32 and last traded at $26.01. Approximately 492,671 shares changed 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.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TVTX shares. Wells Fargo & Company boosted their price objective on shares of Travere Therapeutics from $27.00 to $35.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Stifel Nicolaus lifted their target price on shares of Travere Therapeutics from $20.00 to $25.00 and gave the stock a "hold" rating in a research note on Friday. Scotiabank reaffirmed an "outperform" rating on shares of Travere Therapeutics in a research note on Thursday, August 7th. Wall Street Zen raised shares of Travere Therapeutics from a "hold" rating to a "buy" rating in a research note on Monday, September 1st. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $47.00 target price on shares of Travere Therapeutics in a research note on Wednesday, September 10th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $34.20.

Travere Therapeutics Trading Down 1.0%

The company has a market cap of $2.03 billion, a P/E ratio of -11.16 and a beta of 0.78. The stock's 50 day moving average is $17.88 and its 200-day moving average is $17.37. The company has a current ratio of 2.00, a quick ratio of 1.98 and a debt-to-equity ratio of 9.50.

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

Institutional Investors Weigh In On Travere Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in TVTX. Ameriprise Financial Inc. increased its position 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 purchasing an additional 162,649 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 in the last quarter. Millennium Management LLC grew its holdings in 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 in the last quarter. Man Group plc grew its holdings in 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 in the last quarter. Finally, ProShare Advisors LLC grew its holdings in Travere Therapeutics by 37.4% during the 4th quarter. ProShare Advisors LLC now owns 25,347 shares of the company's stock valued at $442,000 after buying an additional 6,896 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.