Travere Therapeutics (NASDAQ:TVTX) Now Covered by Analysts at Scotiabank

Scotiabank assumed coverage on shares of Travere Therapeutics (NASDAQ:TVTX) in a research report released on Wednesday, Marketbeat.com reports. The brokerage issued a sector outperform rating and a $23.00 price target on the stock.

TVTX has been the topic of a number of other research reports. Bank of America increased 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. HC Wainwright decreased their price objective on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Barclays upped their target price on Travere Therapeutics from $14.00 to $18.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Leerink Partners reissued an “outperform” rating and set a $20.00 price target on shares of Travere Therapeutics in a research note on Tuesday, October 8th. Finally, Piper Sandler upped their price objective on shares of Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Travere Therapeutics Stock Performance

Shares of TVTX opened at $18.05 on Wednesday. Travere Therapeutics has a 12-month low of $5.12 and a 12-month high of $18.60. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96. The company has a market cap of $1.37 billion, a PE ratio of -8.60 and a beta of 0.73. The stock has a 50-day moving average price of $12.32 and a 200-day moving average price of $9.18.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) 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%. As a group, equities analysts forecast that Travere Therapeutics will post -3.95 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Eric M. Dube sold 21,125 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $243,360.00. Following the sale, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $50,538.24. Following the completion of the transaction, the senior vice president now directly owns 84,455 shares in the company, valued at approximately $972,921.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the sale, the chief executive officer now directly owns 361,975 shares in the company, valued at $4,169,952. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,707 shares of company stock valued at $1,504,312. Insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. EntryPoint Capital LLC bought a new position in shares of Travere Therapeutics in the 1st quarter worth approximately $32,000. CWM LLC raised its holdings in Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after purchasing an additional 3,065 shares in the last quarter. Diversified Trust Co purchased a new position in Travere Therapeutics during the third quarter valued at $161,000. DRW Securities LLC bought a new stake in shares of Travere Therapeutics during the 2nd quarter valued at $95,000. Finally, Forefront Analytics LLC increased its stake in shares of Travere Therapeutics by 10.2% in the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after acquiring an additional 1,237 shares in the last quarter.

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.