Wall Street Zen Upgrades Travere Therapeutics (NASDAQ:TVTX) to Buy

Key Points

• Travere Therapeutics has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating positive sentiment among analysts.
• The average price target for Travere Therapeutics is $32.21, with the company's stock currently priced around $18.82.
• Despite a negative earnings report with a loss of ($0.14) EPS, Travere experienced significant year-over-year revenue growth of 111.5%.

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

TVTX has been the topic of several other reports. HC Wainwright reaffirmed a "buy" rating and set a $30.00 price target on shares of Travere Therapeutics in a research report on Tuesday, July 1st. Wedbush increased their price target on Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Citigroup reaffirmed a "buy" rating on shares of Travere Therapeutics in a research report on Sunday, August 10th. Stifel Nicolaus increased their price target on Travere Therapeutics from $22.00 to $23.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Travere Therapeutics has an average rating of "Moderate Buy" and an average price target of $32.21.

Travere Therapeutics Price Performance

NASDAQ TVTX opened at $18.82 on Friday. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98. The stock's fifty day moving average price is $15.73 and its 200 day moving average price is $17.71. Travere Therapeutics has a 1 year low of $8.46 and a 1 year high of $25.29. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -9.23 and a beta of 0.74.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released 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. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%. The firm had revenue of $94.84 million for the quarter, compared to the consensus estimate of $100.18 million. During the same period in the prior year, the firm earned ($0.65) EPS. The firm's revenue was up 111.5% on a year-over-year basis. As a group, equities research analysts forecast that Travere Therapeutics will post -1.4 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Armistice Capital LLC lifted its stake in Travere Therapeutics by 20.6% in the 1st quarter. Armistice Capital LLC now owns 8,872,000 shares of the company's stock worth $158,986,000 after purchasing an additional 1,514,000 shares in the last quarter. Rock Springs Capital Management LP lifted its stake in Travere Therapeutics by 6.2% in the 4th quarter. Rock Springs Capital Management LP now owns 4,973,649 shares of the company's stock worth $86,641,000 after purchasing an additional 289,173 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Travere Therapeutics by 27.4% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company's stock worth $41,203,000 after purchasing an additional 599,102 shares in the last quarter. Driehaus Capital Management LLC lifted its stake in Travere Therapeutics by 24.8% in the 1st quarter. Driehaus Capital Management LLC now owns 2,767,693 shares of the company's stock worth $49,597,000 after purchasing an additional 549,718 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Travere Therapeutics by 36.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company's stock worth $37,875,000 after purchasing an additional 583,836 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.

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