Cantor Fitzgerald Initiates Coverage on Travere Therapeutics (NASDAQ:TVTX)

Cantor Fitzgerald initiated coverage on shares of Travere Therapeutics (NASDAQ:TVTX) in a report published on Friday, MarketBeat reports. The firm issued an overweight rating on the stock.

Several other equities analysts have also weighed in on TVTX. Citigroup reduced their price target on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Wedbush increased their target price on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Canaccord Genuity Group lowered their price target on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Scotiabank increased their price objective on Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. Finally, Bank of America boosted their target price on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $23.67.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $18.09 on Friday. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $20.33. The company’s 50 day moving average price is $18.20 and its two-hundred day moving average price is $14.05. The stock has a market cap of $1.41 billion, a P/E ratio of -3.98 and a beta of 0.70. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01. The business had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. Travere Therapeutics’s quarterly revenue was up 69.6% compared to the same quarter last year. During the same period last year, the company posted ($1.17) earnings per share. On average, equities analysts predict that Travere Therapeutics will post -3.94 earnings per share for the current year.

Insider Activity

In related news, insider Jula Inrig sold 2,066 shares of Travere Therapeutics stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $19.10, for a total transaction of $39,460.60. Following the completion of the sale, the insider now owns 59,883 shares of the company’s stock, valued at approximately $1,143,765.30. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sandra Calvin sold 15,000 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $17.22, for a total value of $258,300.00. Following the completion of the transaction, the chief accounting officer now owns 54,927 shares in the company, valued at $945,842.94. This represents a 21.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,596 shares of company stock worth $527,262. 3.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC grew its stake in Travere Therapeutics by 158.5% in the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after buying an additional 3,065 shares in the last quarter. DRW Securities LLC purchased a new position in Travere Therapeutics in the second quarter worth $95,000. Quarry LP bought a new position in Travere Therapeutics in the third quarter valued at $105,000. Forefront Analytics LLC raised its position in Travere Therapeutics by 10.2% during the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after purchasing an additional 1,237 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in Travere Therapeutics during the second quarter worth about $117,000.

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.