Travere Therapeutics, Inc. (NASDAQ:TVTX) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seventeen brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $38.7143.

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A number of brokerages recently commented on TVTX. Scotiabank reaffirmed an "outperform" rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. Weiss Ratings reissued a "sell (e+)" rating on shares of Travere Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen upgraded Travere Therapeutics from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 8th. Jefferies Financial Group set a $35.00 target price on Travere Therapeutics in a research report on Wednesday, September 10th. Finally, Stifel Nicolaus increased their target price on Travere Therapeutics from $20.00 to $25.00 and gave the stock a "hold" rating in a report on Friday, September 12th.

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Insider Transactions at Travere Therapeutics

Travere Therapeutics Still On The Rise After Encouraging Data

In related news, insider Peter Heerma sold 5,591 shares of the company's stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $35.00, for a total value of $195,685.00. Following the sale, the insider owned 119,071 shares in the company, valued at $4,167,485. This represents a 4.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eric M. Dube sold 92,872 shares of the firm's stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $30.38, for a total transaction of $2,821,451.36. Following the completion of the transaction, the chief executive officer directly owned 419,173 shares in the company, valued at approximately $12,734,475.74. The trade was a 18.14% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 223,941 shares of company stock valued at $7,221,380. Corporate insiders own 4.06% of the company's stock.

Institutional Trading of Travere Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of TVTX. PharVision Advisers LLC bought a new position in shares of Travere Therapeutics in the third quarter valued at approximately $210,000. Voloridge Investment Management LLC raised its position in Travere Therapeutics by 18.7% in the 3rd quarter. Voloridge Investment Management LLC now owns 883,672 shares of the company's stock valued at $21,120,000 after buying an additional 139,018 shares during the last quarter. Quarry LP lifted its stake in Travere Therapeutics by 113.7% during the 3rd quarter. Quarry LP now owns 14,960 shares of the company's stock valued at $358,000 after acquiring an additional 7,960 shares in the last quarter. Militia Capital Partners LP purchased a new position in Travere Therapeutics during the 3rd quarter worth $368,000. Finally, Jain Global LLC purchased a new position in Travere Therapeutics during the 3rd quarter worth $768,000.

Travere Therapeutics Stock Down 1.6%

Shares of NASDAQ TVTX opened at $35.43 on Thursday. The company has a quick ratio of 1.98, a current ratio of 2.00 and a debt-to-equity ratio of 9.50. The firm has a market cap of $3.17 billion, a PE ratio of -17.37 and a beta of 0.90. The company's fifty day simple moving average is $28.39 and its 200 day simple moving average is $20.91. Travere Therapeutics has a 12-month low of $12.91 and a 12-month high of $36.87.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.59. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The firm had revenue of $164.86 million during the quarter, compared to the consensus estimate of $106.09 million. During the same period in the previous year, the firm posted ($0.70) earnings per share. The business's revenue was up 162.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

About Travere Therapeutics

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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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