FY2024 EPS Estimate for Travere Therapeutics Cut by Analyst

Travere Therapeutics, Inc. (NASDAQ:TVTX) – Equities research analysts at HC Wainwright lowered their FY2024 earnings per share estimates for Travere Therapeutics in a report released on Wednesday, January 15th. HC Wainwright analyst E. Arce now anticipates that the company will post earnings per share of ($3.96) for the year, down from their prior estimate of ($3.84). HC Wainwright currently has a “Buy” rating and a $22.00 price target on the stock. The consensus estimate for Travere Therapeutics’ current full-year earnings is ($3.92) per share. HC Wainwright also issued estimates for Travere Therapeutics’ Q4 2024 earnings at ($0.59) EPS, Q1 2025 earnings at ($0.43) EPS, Q2 2025 earnings at ($0.24) EPS, Q3 2025 earnings at ($0.20) EPS, Q4 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.90) EPS, FY2026 earnings at ($0.67) EPS, FY2027 earnings at $0.57 EPS and FY2028 earnings at $2.48 EPS.

Other equities research analysts also recently issued research reports about the company. Cantor Fitzgerald started coverage on Travere Therapeutics in a report on Friday, January 10th. They issued an “overweight” rating on the stock. Canaccord Genuity Group decreased their target price on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Barclays increased their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Guggenheim lifted their price target on shares of Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Wedbush upped their price objective on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.00.

Travere Therapeutics Stock Performance

NASDAQ TVTX opened at $18.45 on Friday. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $20.33. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The firm’s 50 day simple moving average is $18.23 and its 200 day simple moving average is $14.37.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.01. The firm had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The business’s quarterly revenue was up 69.6% compared to the same quarter last year. During the same period last year, the firm earned ($1.17) EPS.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors have recently modified their holdings of the company. CWM LLC lifted its holdings in Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after buying an additional 3,065 shares during the period. Quarry LP bought a new position in shares of Travere Therapeutics in the 3rd quarter worth about $105,000. Diversified Trust Co acquired a new position in shares of Travere Therapeutics in the 3rd quarter valued at about $161,000. DRW Securities LLC bought a new stake in shares of Travere Therapeutics during the 2nd quarter valued at about $95,000. Finally, Aigen Investment Management LP bought a new stake in shares of Travere Therapeutics during the 3rd quarter valued at about $170,000.

Insider Activity

In related news, CAO Sandra Calvin sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $17.22, for a total value of $258,300.00. Following the sale, the chief accounting officer now directly owns 54,927 shares in the company, valued at $945,842.94. This represents a 21.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jula Inrig sold 2,066 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $19.10, for a total transaction of $39,460.60. Following the sale, the insider now directly owns 59,883 shares of the company’s stock, valued at $1,143,765.30. This represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,596 shares of company stock valued at $527,262. Insiders own 4.06% of the company’s stock.

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.