Travere Therapeutics (NASDAQ:TVTX) Research Coverage Started at Scotiabank

Investment analysts at Scotiabank initiated coverage on shares of Travere Therapeutics (NASDAQ:TVTX) in a report released on Wednesday, Briefing.com reports. The firm set a “sector outperform” rating on the stock.

A number of other research firms have also recently issued reports on TVTX. JPMorgan Chase & Co. boosted their price objective on Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Guggenheim boosted their price objective on Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Citigroup dropped their price objective on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 27th. HC Wainwright dropped their price objective on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a report on Friday, September 27th. Finally, Wedbush upped their target price on Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $19.75.

Travere Therapeutics Stock Up 1.4 %

Shares of NASDAQ:TVTX opened at $17.69 on Wednesday. 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 $1.35 billion, a price-to-earnings ratio of -8.42 and a beta of 0.73. Travere Therapeutics has a 12 month low of $5.12 and a 12 month high of $18.60. The company has a 50-day moving average price of $12.13 and a 200 day moving average price of $9.12.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The business had revenue of $54.12 million during the quarter, compared to analysts’ expectations of $49.50 million. As a group, equities research analysts predict that Travere Therapeutics will post -3.95 earnings per share for the current year.

Insider Transactions at Travere Therapeutics

In other news, Director Gary A. Lyons sold 40,000 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $14.73, for a total value of $589,200.00. Following the completion of the transaction, the director now directly owns 51,000 shares of the company’s stock, valued at approximately $751,230. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP William E. Rote sold 4,387 shares of the business’s stock in a transaction on Monday, September 9th. The stock was 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 of the company’s stock, valued at approximately $972,921.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gary A. Lyons sold 40,000 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $14.73, for a total value of $589,200.00. Following the completion of the transaction, the director now directly owns 51,000 shares of the company’s stock, valued at approximately $751,230. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 110,707 shares of company stock valued at $1,504,312. Corporate insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Travere Therapeutics by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock valued at $48,310,000 after buying an additional 750,686 shares in the last quarter. Millennium Management LLC increased its position in Travere Therapeutics by 33.9% during the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after buying an additional 747,406 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Travere Therapeutics by 912.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock valued at $18,200,000 after buying an additional 1,995,419 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Travere Therapeutics by 203.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock valued at $5,055,000 after buying an additional 412,000 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Travere Therapeutics by 18.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 264,816 shares of the company’s stock valued at $2,177,000 after buying an additional 41,048 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.