Travere Therapeutics (NASDAQ:TVTX) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Travere Therapeutics (NASDAQ:TVTX – Free Report) from a buy rating to a strong-buy rating in a report released on Saturday.

Other analysts have also recently issued research reports about the company. Citigroup boosted their target price on Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Scotiabank reaffirmed an “outperform” rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, October 8th. Piper Sandler increased their price objective on shares of Travere Therapeutics from $26.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Finally, TD Cowen lifted their target price on shares of Travere Therapeutics from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Travere Therapeutics has an average rating of “Moderate Buy” and an average target price of $38.71.

View Our Latest Stock Analysis on Travere Therapeutics

Travere Therapeutics Stock Performance

Shares of TVTX opened at $34.38 on Friday. Travere Therapeutics has a 12-month low of $12.91 and a 12-month high of $36.15. The stock has a market cap of $3.08 billion, a P/E ratio of -16.85 and a beta of 0.90. The company has a current ratio of 2.00, a quick ratio of 1.98 and a debt-to-equity ratio of 9.50. The company has a 50-day moving average of $26.45 and a two-hundred day moving average of $20.16.

Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.59. The business had revenue of $113.15 million for the quarter, compared to analyst estimates of $106.09 million. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The business’s revenue for the quarter was up 162.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.70) earnings per share. As a group, research analysts predict that Travere Therapeutics will post -1.4 EPS for the current fiscal year.

Insider Buying and Selling

In other Travere Therapeutics news, Director Timothy Coughlin sold 18,000 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $35.03, for a total transaction of $630,540.00. Following the completion of the sale, the director owned 55,500 shares in the company, valued at $1,944,165. The trade was a 24.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Peter Heerma sold 5,591 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $35.00, for a total transaction of $195,685.00. Following the sale, the insider directly owned 119,071 shares of the company’s stock, valued at approximately $4,167,485. This represents a 4.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 223,941 shares of company stock worth $7,221,380 over the last 90 days. 4.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Travere Therapeutics

Several hedge funds have recently bought and sold shares of TVTX. Adage Capital Partners GP L.L.C. raised its stake in shares of Travere Therapeutics by 479.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,184,898 shares of the company’s stock worth $39,153,000 after purchasing an additional 1,808,098 shares in the last quarter. Stephens Investment Management Group LLC acquired a new position in Travere Therapeutics in the third quarter worth approximately $38,232,000. Armistice Capital LLC increased its holdings in Travere Therapeutics by 20.6% in the first quarter. Armistice Capital LLC now owns 8,872,000 shares of the company’s stock worth $158,986,000 after buying an additional 1,514,000 shares during the last quarter. Nuveen LLC bought a new position in Travere Therapeutics during the first quarter valued at approximately $21,569,000. Finally, Frazier Life Sciences Management L.P. acquired a new stake in Travere Therapeutics in the second quarter valued at approximately $14,831,000.

About Travere Therapeutics

(Get Free Report)

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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