Travere Therapeutics (NASDAQ:TVTX) Trading Up 6% - Should You Buy?

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) shares rose 6% during trading on Monday . The company traded as high as $19.37 and last traded at $19.43. Approximately 1,325,041 shares changed hands during mid-day trading, a decline of 13% from the average daily volume of 1,516,915 shares. The stock had previously closed at $18.33.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Evercore ISI lifted their price target on Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Cantor Fitzgerald restated an "overweight" rating on shares of Travere Therapeutics in a report on Wednesday, April 23rd. Canaccord Genuity Group raised their price target on Travere Therapeutics from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday, April 10th. Citigroup lifted their price objective on Travere Therapeutics from $31.00 to $35.00 and gave the company a "buy" rating in a research note on Monday, February 24th. Finally, HC Wainwright upped their price objective on Travere Therapeutics from $18.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, Travere Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $31.43.

Travere Therapeutics Trading Down 0.9 %

The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The firm's 50 day simple moving average is $18.07 and its two-hundred day simple moving average is $18.71. The stock has a market cap of $1.83 billion, a P/E ratio of -5.05 and a beta of 0.84.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.08. The firm had revenue of $81.73 million for the quarter, compared to analyst estimates of $77.44 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The firm's quarterly revenue was up 83.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.76) earnings per share. As a group, equities research analysts predict that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Activity at Travere Therapeutics

In related news, CFO Christopher R. Cline sold 5,192 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $20.12, for a total transaction of $104,463.04. Following the completion of the transaction, the chief financial officer now directly owns 90,038 shares in the company, valued at approximately $1,811,564.56. This trade represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP William E. Rote sold 8,951 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $19.78, for a total transaction of $177,050.78. Following the completion of the sale, the senior vice president now directly owns 95,719 shares in the company, valued at approximately $1,893,321.82. The trade was a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,330 shares of company stock valued at $3,507,377 in the last 90 days. 4.06% of the stock is owned by corporate insiders.

Institutional Trading of Travere Therapeutics

Institutional investors have recently bought and sold shares of the company. Summit Investment Advisors Inc. increased its stake in shares of Travere Therapeutics by 9.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company's stock worth $138,000 after purchasing an additional 667 shares during the last quarter. Arizona State Retirement System raised its position in Travere Therapeutics by 4.3% during the 1st quarter. Arizona State Retirement System now owns 23,364 shares of the company's stock valued at $419,000 after purchasing an additional 968 shares during the last quarter. Diversified Trust Co raised its stake in Travere Therapeutics by 8.6% in the first quarter. Diversified Trust Co now owns 15,959 shares of the company's stock worth $286,000 after buying an additional 1,258 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Travere Therapeutics in the 4th quarter worth about $31,000. Finally, Sterling Capital Management LLC boosted its holdings in Travere Therapeutics by 859.8% in the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock worth $41,000 after acquiring an additional 2,115 shares in the last quarter.

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.