Travere Therapeutics (NASDAQ:TVTX) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Travere Therapeutics (NASDAQ:TVTX) in a research note released on Friday,Benzinga reports.

TVTX has been the subject of several other research reports. Piper Sandler raised their target price on Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Canaccord Genuity Group raised their price objective on Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Scotiabank lifted their target price on Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Wednesday, February 12th. Evercore ISI increased their price target on shares of Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Barclays boosted their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics has an average rating of “Moderate Buy” and an average target price of $27.77.

Travere Therapeutics Price Performance

NASDAQ TVTX opened at $21.98 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $25.29. The company has a market cap of $1.72 billion, a PE ratio of -4.83 and a beta of 0.72. The stock’s 50-day moving average price is $19.68 and its two-hundred day moving average price is $16.57.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). The firm had revenue of $74.79 million for the quarter, compared to analyst estimates of $72.38 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. On average, analysts predict that Travere Therapeutics will post -3.9 EPS for the current year.

Insider Activity

In other Travere Therapeutics news, SVP William E. Rote sold 5,200 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $23.53, for a total transaction of $122,356.00. Following the transaction, the senior vice president now directly owns 98,519 shares in the company, valued at $2,318,152.07. This trade represents a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sandra Calvin sold 54,244 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total value of $1,356,100.00. Following the completion of the sale, the chief accounting officer now directly owns 54,410 shares of the company’s stock, valued at $1,360,250. This represents a 49.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 218,425 shares of company stock worth $4,674,259. 3.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Travere Therapeutics

Large investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. acquired a new stake in shares of Travere Therapeutics in the fourth quarter worth $31,000. Sterling Capital Management LLC raised its holdings in Travere Therapeutics by 859.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock worth $41,000 after acquiring an additional 2,115 shares during the period. R Squared Ltd acquired a new position in Travere Therapeutics during the 4th quarter worth $53,000. CWM LLC boosted its holdings in Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after acquiring an additional 3,065 shares during the period. Finally, Gen Wealth Partners Inc acquired a new stake in shares of Travere Therapeutics in the fourth quarter valued at about $73,000.

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.