Travere Therapeutics (NASDAQ:TVTX) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Travere Therapeutics from a "buy" to a "hold" rating, signaling a shift in analysts' outlook on the stock.
• Despite the downgrade, Travere's shares saw a modest increase of 0.7%, with a current price around $17.92.
• The company reported a 111.5% increase in revenue year-over-year, with Q2 earnings of ($0.14) per share, exceeding analyst expectations.

Wall Street Zen lowered shares of Travere Therapeutics (NASDAQ:TVTX - Free Report) from a buy rating to a hold rating in a report issued on Sunday morning.

TVTX has been the topic of several other research reports. Wedbush lifted their price objective on Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Scotiabank reiterated an "outperform" rating on shares of Travere Therapeutics in a report on Thursday, August 7th. HC Wainwright reiterated a "buy" rating and issued a $30.00 price objective on shares of Travere Therapeutics in a report on Tuesday, July 1st. Citigroup reiterated a "buy" rating on shares of Travere Therapeutics in a report on Sunday, August 10th. Finally, Stifel Nicolaus lifted their price objective on Travere Therapeutics from $22.00 to $23.00 and gave the stock a "hold" rating in a report on Friday, May 2nd. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Travere Therapeutics has an average rating of "Moderate Buy" and an average price target of $33.43.

Travere Therapeutics Price Performance

Shares of TVTX stock traded down $0.20 on Friday, reaching $17.50. The company's stock had a trading volume of 1,961,642 shares, compared to its average volume of 1,689,716. The company has a quick ratio of 1.98, a current ratio of 2.00 and a debt-to-equity ratio of 9.50. Travere Therapeutics has a 12-month low of $8.98 and a 12-month high of $25.29. The company has a market capitalization of $1.56 billion, a P/E ratio of -8.58 and a beta of 0.74. The stock's 50 day simple moving average is $16.36 and its 200-day simple moving average is $17.47.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $100.18 million. During the same quarter last year, the business posted ($0.65) earnings per share. The firm's revenue was up 111.5% compared to the same quarter last year. As a group, equities analysts predict that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Institutional Trading of Travere Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new position in Travere Therapeutics in the 4th quarter valued at approximately $31,000. Raymond James Financial Inc. purchased a new stake in Travere Therapeutics during the 2nd quarter valued at $33,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Travere Therapeutics in the 1st quarter worth $62,000. KBC Group NV purchased a new stake in shares of Travere Therapeutics in the 1st quarter worth $75,000. Finally, Gen Wealth Partners Inc purchased a new stake in shares of Travere Therapeutics in the 4th quarter worth $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.