Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives $47.83 Average Target Price from Analysts

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have received an average rating of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $47.8333.

A number of research analysts have commented on TVTX shares. Canaccord Genuity Group increased their price objective on shares of Travere Therapeutics from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Guggenheim raised their price target on shares of Travere Therapeutics from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Weiss Ratings downgraded shares of Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. reduced their price target on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Finally, Wells Fargo & Company raised their price target on shares of Travere Therapeutics from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th.

Travere Therapeutics Trading Up 2.9%

NASDAQ TVTX opened at $43.49 on Thursday. Travere Therapeutics has a 12 month low of $13.88 and a 12 month high of $48.61. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of -189.08 and a beta of 1.13. The company’s fifty day moving average price is $35.44 and its two-hundred day moving average price is $33.86.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.29. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The firm had revenue of $127.20 million for the quarter, compared to the consensus estimate of $136.23 million. During the same period in the prior year, the firm posted ($0.47) EPS. The firm’s revenue was up 55.6% compared to the same quarter last year. As a group, research analysts predict that Travere Therapeutics will post -0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Roy D. Baynes sold 32,750 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $41.29, for a total value of $1,352,247.50. Following the transaction, the director directly owned 37,500 shares in the company, valued at approximately $1,548,375. This trade represents a 46.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Sandra Calvin sold 21,977 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $41.07, for a total transaction of $902,595.39. Following the completion of the transaction, the chief accounting officer owned 42,353 shares in the company, valued at approximately $1,739,437.71. The trade was a 34.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 400,015 shares of company stock worth $15,895,428. Company insiders own 4.44% of the company’s stock.

Institutional Trading of Travere Therapeutics

Hedge funds have recently bought and sold shares of the company. State of Wyoming bought a new stake in Travere Therapeutics in the 4th quarter valued at about $37,000. Torren Management LLC bought a new stake in Travere Therapeutics in the 4th quarter valued at about $38,000. Comerica Bank lifted its position in Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after purchasing an additional 492 shares during the last quarter. Fifth Third Bancorp bought a new stake in Travere Therapeutics in the 1st quarter valued at about $35,000. Finally, Smartleaf Asset Management LLC lifted its position in Travere Therapeutics by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock valued at $45,000 after purchasing an additional 487 shares during the last quarter.

About Travere Therapeutics

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.