Travere Therapeutics (NASDAQ:TVTX) Stock Price Up 7.2% – Time to Buy?

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s share price was up 7.2% during trading on Thursday . The company traded as high as $18.67 and last traded at $18.67. Approximately 606,293 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 1,383,476 shares. The stock had previously closed at $17.42.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Bank of America increased their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. HC Wainwright dropped their price objective on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Wedbush upped their target price on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $9.00 to $27.00 in a report on Monday, October 21st. Finally, Piper Sandler lifted their target price on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.67.

Travere Therapeutics Stock Down 0.6 %

The firm has a market capitalization of $1.47 billion, a PE ratio of -4.15 and a beta of 0.69. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The firm’s 50 day moving average price is $18.12 and its two-hundred day moving average price is $13.72.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.01. The company had revenue of $62.90 million during the quarter, compared to the consensus estimate of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The company’s revenue was up 69.6% on a year-over-year basis. During the same period last year, the firm earned ($1.17) earnings per share. As a group, research analysts forecast that Travere Therapeutics, Inc. will post -3.94 EPS for the current fiscal year.

Insider Activity

In other news, CAO Sandra Calvin sold 12,090 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $18.30, for a total transaction of $221,247.00. Following the transaction, the chief accounting officer now owns 54,927 shares of the company’s stock, valued at approximately $1,005,164.10. This trade represents a 18.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors have recently modified their holdings of the business. Aigen Investment Management LP bought a new position in Travere Therapeutics during the 3rd quarter valued at $170,000. Oppenheimer & Co. Inc. acquired a new stake in Travere Therapeutics during the 3rd quarter worth about $673,000. Acadian Asset Management LLC grew its holdings in shares of Travere Therapeutics by 202.6% during the 2nd quarter. Acadian Asset Management LLC now owns 144,901 shares of the company’s stock valued at $1,190,000 after acquiring an additional 97,020 shares in the last quarter. Millennium Management LLC increased its position in Travere Therapeutics by 33.9% in the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after purchasing an additional 747,406 shares during the last quarter. Finally, FMR LLC grew its position in 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 acquiring an additional 31,772 shares in the last quarter.

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.