Travere Therapeutics, Inc. (NASDAQ:TVTX) Given Average Recommendation of “Moderate Buy” by Brokerages

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been given a consensus rating of “Moderate Buy” by the thirteen analysts that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $15.67.

A number of equities research analysts have recently commented on TVTX shares. Canaccord Genuity Group lifted their target price on Travere Therapeutics from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. boosted their target price on shares of Travere Therapeutics from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Barclays increased their target price on shares of Travere Therapeutics from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. HC Wainwright lifted their price target on shares of Travere Therapeutics from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Piper Sandler upped their price target on Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd.

Travere Therapeutics Stock Up 1.2 %

TVTX stock opened at $9.47 on Tuesday. The firm has a market capitalization of $720.94 million, a PE ratio of -4.51 and a beta of 0.77. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $15.39. The stock’s 50 day moving average is $9.01 and its 200-day moving average is $7.77.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The company had revenue of $54.12 million for the quarter, compared to the consensus estimate of $49.50 million. Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. Sell-side analysts expect that Travere Therapeutics will post -3.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Travere Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in TVTX. Signaturefd LLC lifted its holdings in Travere Therapeutics by 1,656.4% in the fourth quarter. Signaturefd LLC now owns 3,021 shares of the company’s stock valued at $27,000 after acquiring an additional 2,849 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Travere Therapeutics by 5.6% during the 4th quarter. Russell Investments Group Ltd. now owns 103,012 shares of the company’s stock worth $926,000 after acquiring an additional 5,499 shares during the last quarter. E Fund Management Co. Ltd. grew its position in shares of Travere Therapeutics by 23.2% during the 4th quarter. E Fund Management Co. Ltd. now owns 22,910 shares of the company’s stock valued at $206,000 after acquiring an additional 4,314 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Travere Therapeutics in the 4th quarter worth $137,000. Finally, Crestline Management LP raised its holdings in Travere Therapeutics by 32.6% in the 4th quarter. Crestline Management LP now owns 81,423 shares of the company’s stock worth $732,000 after purchasing an additional 20,002 shares during the period.

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.