Wedbush Lifts Earnings Estimates for Travere Therapeutics

Travere Therapeutics, Inc. (NASDAQ:TVTX) – Wedbush upped their FY2024 EPS estimates for shares of Travere Therapeutics in a research note issued on Thursday, January 23rd. Wedbush analyst L. Chico now expects that the company will earn ($3.84) per share for the year, up from their prior estimate of ($3.89). Wedbush has a “Outperform” rating and a $25.00 price objective on the stock. The consensus estimate for Travere Therapeutics’ current full-year earnings is ($3.92) per share. Wedbush also issued estimates for Travere Therapeutics’ Q4 2024 earnings at ($0.47) EPS, Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.18) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at $0.15 EPS, FY2025 earnings at ($0.49) EPS, FY2026 earnings at $1.45 EPS, FY2027 earnings at $3.27 EPS and FY2029 earnings at $5.46 EPS.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.01. The business had revenue of $62.90 million during the quarter, compared to analyst estimates of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The business’s quarterly revenue was up 69.6% on a year-over-year basis. During the same period in the prior year, the business earned ($1.17) earnings per share.

A number of other equities research analysts have also issued reports on the company. Bank of America upped their target price on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Barclays upped their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Leerink Partners reissued an “outperform” rating and issued a $20.00 target price on shares of Travere Therapeutics in a research report on Tuesday, October 8th. HC Wainwright upped their price target on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Finally, Scotiabank lifted their price objective on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.00.

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX opened at $21.07 on Monday. The company has a market capitalization of $1.64 billion, a PE ratio of -4.63 and a beta of 0.70. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The stock has a fifty day moving average of $18.46 and a 200-day moving average of $15.10. Travere Therapeutics has a one year low of $5.12 and a one year high of $21.56.

Institutional Trading of Travere Therapeutics

Several large investors have recently made changes to their positions in the stock. R Squared Ltd bought a new position in shares of Travere Therapeutics in the 4th quarter valued at approximately $53,000. CWM LLC raised its holdings in Travere Therapeutics by 158.5% in the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after acquiring an additional 3,065 shares during the period. Quarry LP bought a new position in Travere Therapeutics in the 3rd quarter worth $105,000. Forefront Analytics LLC lifted its position in Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after acquiring an additional 1,237 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in Travere Therapeutics during the second quarter valued at about $117,000.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, CAO Sandra Calvin sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $17.22, for a total value of $258,300.00. Following the completion of the sale, the chief accounting officer now directly owns 54,927 shares of the company’s stock, valued at $945,842.94. The trade was a 21.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Roy D. Baynes sold 16,000 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $20.00, for a total transaction of $320,000.00. Following the transaction, the director now owns 31,000 shares in the company, valued at approximately $620,000. This trade represents a 34.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,143 shares of company stock worth $1,167,512 over the last 90 days. 3.75% of the stock is currently owned by corporate insiders.

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.