Travere Therapeutics, Inc. (NASDAQ:TVTX – Get Rating)’s share price gapped down prior to trading on Friday after Piper Sandler lowered their price target on the stock from $39.00 to $38.00. The stock had previously closed at $23.19, but opened at $22.60. Piper Sandler currently has an overweight rating on the stock. Travere Therapeutics shares last traded at $21.38, with a volume of 15,106 shares changing hands.
TVTX has been the subject of several other reports. SVB Leerink boosted their price objective on shares of Travere Therapeutics from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, August 5th. Evercore ISI decreased their price objective on shares of Travere Therapeutics to $35.00 in a research note on Tuesday, August 9th. Canaccord Genuity Group reiterated a “buy” rating and set a $42.00 price objective on shares of Travere Therapeutics in a research note on Thursday, July 14th. Bryan, Garnier & Co started coverage on shares of Travere Therapeutics in a research note on Wednesday, September 21st. They set a “sell” rating and a $17.00 price objective for the company. Finally, HC Wainwright decreased their price objective on shares of Travere Therapeutics from $46.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, August 8th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.57.
Insider Transactions at Travere Therapeutics
In related news, insider Peter Heerma sold 3,042 shares of the company’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $25.68, for a total value of $78,118.56. Following the sale, the insider now directly owns 65,148 shares of the company’s stock, valued at $1,673,000.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.71% of the company’s stock.
Institutional Trading of Travere Therapeutics
Several institutional investors have recently added to or reduced their stakes in TVTX. Kynam Capital Management LP raised its holdings in Travere Therapeutics by 378.3% in the first quarter. Kynam Capital Management LP now owns 870,918 shares of the company’s stock valued at $22,444,000 after acquiring an additional 688,815 shares in the last quarter. Deep Track Capital LP raised its holdings in Travere Therapeutics by 27.9% in the first quarter. Deep Track Capital LP now owns 3,134,503 shares of the company’s stock valued at $80,776,000 after acquiring an additional 684,503 shares in the last quarter. State Street Corp raised its holdings in shares of Travere Therapeutics by 21.9% during the second quarter. State Street Corp now owns 3,607,165 shares of the company’s stock worth $87,402,000 after purchasing an additional 647,804 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Travere Therapeutics by 205.3% during the second quarter. Assenagon Asset Management S.A. now owns 950,465 shares of the company’s stock worth $23,030,000 after purchasing an additional 639,114 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Travere Therapeutics by 30.5% during the first quarter. Renaissance Technologies LLC now owns 1,357,322 shares of the company’s stock worth $34,978,000 after purchasing an additional 317,400 shares during the period.
Travere Therapeutics Stock Down 10.3 %
The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -5.81 and a beta of 0.59. The stock’s fifty day simple moving average is $26.37 and its two-hundred day simple moving average is $25.45. The company has a debt-to-equity ratio of 2.39, a current ratio of 4.71 and a quick ratio of 4.65.
Travere Therapeutics (NASDAQ:TVTX – Get Rating) last issued its earnings results on Thursday, August 4th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.11). The business had revenue of $54.17 million for the quarter, compared to analyst estimates of $49.33 million. Travere Therapeutics had a negative return on equity of 94.51% and a negative net margin of 100.92%. On average, sell-side analysts predict that Travere Therapeutics, Inc. will post -4 earnings per share for the current fiscal year.
About Travere Therapeutics
Travere Therapeutics, Inc, a biopharmaceutical company, focuses on the identification, development, commercialization, and delivering of therapies for the treatment of rare diseases. Its marketed products include Chenodal, a synthetic oral form of chenodeoxycholic acid for the treatment of radiolucent stones in gallbladders; Cholbam, a cholic acid capsule to treat pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects, as well as for adjunctive treatment of patients with peroxisomal disorders; and Thiola and Thiola EC, a tiopronin tablet for the treatment of homozygous cystinuria.
