Travere Therapeutics, Inc. (NASDAQ:TVTX – Get Free Report)’s share price was down 4% on Monday . The company traded as low as $9.41 and last traded at $9.41. Approximately 138,386 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 1,236,132 shares. The stock had previously closed at $9.80.
Analysts Set New Price Targets
A number of brokerages recently weighed in on TVTX. Wedbush reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Travere Therapeutics in a report on Wednesday, April 17th. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Travere Therapeutics in a research note on Tuesday, May 7th. Guggenheim reiterated a “neutral” rating on shares of Travere Therapeutics in a research note on Wednesday, March 27th. Finally, Canaccord Genuity Group boosted their price objective on shares of Travere Therapeutics from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.64.
Read Our Latest Report on TVTX
Travere Therapeutics Trading Down 1.5 %
Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last announced its earnings results on Monday, May 6th. The company reported ($1.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.78). Travere Therapeutics had a negative net margin of 87.94% and a negative return on equity of 238.06%. The company had revenue of $41.40 million for the quarter, compared to analyst estimates of $43.46 million. During the same quarter last year, the company posted ($1.27) EPS. Travere Therapeutics’s quarterly revenue was up 34.0% compared to the same quarter last year. On average, equities analysts predict that Travere Therapeutics, Inc. will post -3.92 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in TVTX. Vanguard Group Inc. boosted its stake in shares of Travere Therapeutics by 10.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,667,458 shares of the company’s stock worth $41,727,000 after purchasing an additional 460,176 shares during the last quarter. Parkman Healthcare Partners LLC boosted its position in Travere Therapeutics by 76.4% during the fourth quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock worth $9,159,000 after acquiring an additional 441,318 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Travere Therapeutics in the 1st quarter worth approximately $452,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Travere Therapeutics in the 4th quarter valued at $5,711,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Travere Therapeutics in the 4th quarter valued at $137,000.
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.
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