Travere Therapeutics (NASDAQ:TVTX) Rating Lowered to “Buy” at Wall Street Zen

Travere Therapeutics (NASDAQ:TVTX) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

A number of other research firms have also commented on TVTX. Guggenheim reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Piper Sandler boosted their target price on shares of Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, February 6th. HC Wainwright reaffirmed a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a research report on Friday, November 28th. Citigroup upped their target price on Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. Eleven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Travere Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $38.62.

Travere Therapeutics Stock Performance

Shares of TVTX stock opened at $30.39 on Friday. The stock has a market capitalization of $2.80 billion, a PE ratio of -101.30, a PEG ratio of 0.84 and a beta of 0.83. The business’s 50 day simple moving average is $32.68 and its 200 day simple moving average is $29.01. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.74 and a quick ratio of 2.70. Travere Therapeutics has a one year low of $12.91 and a one year high of $42.13.

Insider Activity

In other news, CEO Eric M. Dube sold 100,087 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $32.28, for a total transaction of $3,230,808.36. Following the transaction, the chief executive officer directly owned 432,886 shares of the company’s stock, valued at $13,973,560.08. This represents a 18.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Peter Heerma sold 7,310 shares of Travere Therapeutics stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $32.12, for a total transaction of $234,797.20. Following the completion of the sale, the insider directly owned 131,823 shares of the company’s stock, valued at approximately $4,234,154.76. The trade was a 5.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 331,925 shares of company stock valued at $11,318,755. Corporate insiders own 4.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Stephens Investment Management Group LLC bought a new position in shares of Travere Therapeutics during the 3rd quarter worth approximately $38,232,000. State Street Corp boosted its position in Travere Therapeutics by 47.8% in the fourth quarter. State Street Corp now owns 4,756,666 shares of the company’s stock worth $181,752,000 after purchasing an additional 1,538,827 shares during the last quarter. Wellington Management Group LLP grew its stake in Travere Therapeutics by 3,331.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock valued at $28,715,000 after purchasing an additional 1,166,460 shares during the period. Frazier Life Sciences Management L.P. bought a new position in Travere Therapeutics in the 2nd quarter valued at $14,831,000. Finally, Fiera Capital Corp purchased a new stake in shares of Travere Therapeutics during the 4th quarter valued at $33,398,000.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.