Brokerages Set Travere Therapeutics, Inc. (NASDAQ:TVTX) PT at $30.62

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been assigned an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $30.62.

A number of research analysts have recently commented on TVTX shares. Canaccord Genuity Group increased their price objective on Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Evercore ISI increased their price objective on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Citigroup increased their price objective on Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a report on Monday, February 24th. JPMorgan Chase & Co. increased their price objective on Travere Therapeutics from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Travere Therapeutics in a research note on Friday, February 21st.

Travere Therapeutics Stock Performance

Shares of TVTX stock opened at $20.87 on Friday. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $25.29. The stock’s 50-day moving average is $20.37 and its two-hundred day moving average is $17.91. The firm has a market cap of $1.85 billion, a P/E ratio of -5.09 and a beta of 0.75.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.15). Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The firm had revenue of $74.79 million during the quarter, compared to analyst estimates of $72.38 million. Analysts predict that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Peter Heerma sold 1,584 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total transaction of $30,000.96. Following the completion of the transaction, the insider now owns 106,374 shares in the company, valued at $2,014,723.56. This trade represents a 1.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric M. Dube sold 11,375 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $24.04, for a total value of $273,455.00. Following the sale, the chief executive officer now directly owns 419,173 shares of the company’s stock, valued at $10,076,918.92. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,335 shares of company stock worth $4,453,012. 3.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Travere Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new stake in shares of Travere Therapeutics in the 4th quarter valued at $31,000. Sterling Capital Management LLC boosted its position in shares of Travere Therapeutics by 859.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock worth $41,000 after purchasing an additional 2,115 shares during the last quarter. R Squared Ltd bought a new position in shares of Travere Therapeutics in the 4th quarter worth $53,000. Gen Wealth Partners Inc bought a new position in shares of Travere Therapeutics in the 4th quarter worth $73,000. Finally, Quarry LP bought a new position in shares of Travere Therapeutics in the 3rd quarter worth $105,000.

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.