Travere Therapeutics (NASDAQ:TVTX) Stock Rating Upgraded by Wall Street Zen

Key Points

• Travere Therapeutics' stock rating has been upgraded from "hold" to "buy" by Wall Street Zen, reflecting a positive outlook from the investment community.
• The company reported a 111.5% year-over-year revenue increase of $94.84 million, despite earnings per share of ($0.14) beating the consensus estimate.
• Thirteen analysts currently have a Buy rating on the stock, with a consensus target price of approximately $34.20, indicating strong investor confidence.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Other equities analysts also recently issued research reports about the stock. HC Wainwright reissued a "buy" rating and issued a $47.00 price objective on shares of Travere Therapeutics in a research note on Friday, September 19th. Stifel Nicolaus boosted their price objective on shares of Travere Therapeutics from $20.00 to $25.00 and gave the stock a "hold" rating in a research note on Friday, September 12th. Jefferies Financial Group set a $35.00 price objective on shares of Travere Therapeutics in a research note on Wednesday, September 10th. Citigroup reissued a "buy" rating on shares of Travere Therapeutics in a research note on Sunday, August 10th. Finally, 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 research note on Thursday, September 11th. Thirteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Travere Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $34.20.

Travere Therapeutics Stock Performance

Travere Therapeutics stock opened at $24.64 on Friday. The company has a 50 day moving average price of $20.18 and a 200-day moving average price of $17.89. The company has a debt-to-equity ratio of 9.50, a quick ratio of 1.98 and a current ratio of 2.00. Travere Therapeutics has a fifty-two week low of $12.91 and a fifty-two week high of $28.69. The company has a market capitalization of $2.20 billion, a PE ratio of -12.08 and a beta of 0.83.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly 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 quarter in the previous year, the firm posted ($0.65) earnings per share. The company's revenue was up 111.5% on a year-over-year basis. As a group, equities analysts forecast that Travere Therapeutics will post -1.4 earnings per share for the current year.

Insider Buying and Selling at Travere Therapeutics

In other news, insider Elizabeth E. Reed sold 10,000 shares of the business's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $25.00, for a total transaction of $250,000.00. Following the sale, the insider directly owned 89,878 shares of the company's stock, valued at $2,246,950. The trade was a 10.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 10,573 shares of company stock worth $260,608 over the last 90 days. 4.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Travere Therapeutics

Large investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Travere Therapeutics during the first quarter valued at $182,000. Polar Asset Management Partners Inc. purchased a new stake in Travere Therapeutics in the first quarter valued at $304,000. Wellington Management Group LLP purchased a new stake in Travere Therapeutics in the fourth quarter valued at $583,000. Northern Trust Corp boosted its holdings in Travere Therapeutics by 7.2% in the first quarter. Northern Trust Corp now owns 808,687 shares of the company's stock valued at $14,492,000 after purchasing an additional 54,292 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Travere Therapeutics by 166.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,103,075 shares of the company's stock valued at $16,326,000 after purchasing an additional 689,561 shares during 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.

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