Travere Therapeutics’ (TVTX) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Travere Therapeutics (NASDAQ:TVTX) in a report released on Thursday,Benzinga reports.

Several other research analysts have also recently issued reports on the stock. Scotiabank increased their target price on shares of Travere Therapeutics from $27.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Wednesday, February 12th. HC Wainwright increased their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Citigroup boosted their price objective on shares of Travere Therapeutics from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Bank of America increased their target price on Travere Therapeutics from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. Finally, Canaccord Genuity Group boosted their price target on Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.46.

Travere Therapeutics Stock Performance

Shares of NASDAQ:TVTX opened at $14.99 on Thursday. The firm’s 50 day simple moving average is $20.48 and its 200-day simple moving average is $18.61. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. Travere Therapeutics has a one year low of $5.12 and a one year high of $25.29. The firm has a market cap of $1.33 billion, a PE ratio of -3.66 and a beta of 0.84.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.73) EPS 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 for the quarter, compared to analysts’ expectations of $72.38 million. As a group, equities analysts predict that Travere Therapeutics will post -1.4 EPS for the current year.

Insider Transactions at Travere Therapeutics

In related news, CAO Sandra Calvin sold 54,244 shares of Travere Therapeutics stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the completion of the sale, the chief accounting officer now owns 54,410 shares of the company’s stock, valued at $1,360,250. The trade was a 49.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP William E. Rote sold 2,437 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total value of $47,424.02. Following the completion of the sale, the senior vice president now owns 83,170 shares in the company, valued at approximately $1,618,488.20. This represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,269 shares of company stock worth $4,155,251. Company insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Intech Investment Management LLC purchased a new stake in Travere Therapeutics in the third quarter valued at $283,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Travere Therapeutics by 61.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 47,045 shares of the company’s stock valued at $658,000 after buying an additional 17,931 shares during the period. FMR LLC boosted its stake in shares of Travere Therapeutics by 27.5% in the third quarter. FMR LLC now owns 147,416 shares of the company’s stock worth $2,062,000 after buying an additional 31,772 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Travere Therapeutics by 20.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,969 shares of the company’s stock worth $279,000 after acquiring an additional 3,458 shares during the period. Finally, Quarry LP purchased a new position in Travere Therapeutics during the third quarter valued at approximately $105,000.

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.