Travere Therapeutics (NASDAQ:TVTX) Trading Down 5.9%

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s share price was down 5.9% during trading on Thursday . The stock traded as low as $9.44 and last traded at $9.46. Approximately 312,444 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 1,180,724 shares. The stock had previously closed at $10.05.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Citigroup raised their price target on Travere Therapeutics from $14.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday. Piper Sandler raised their target price on shares of Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. HC Wainwright upped their price target on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday. Bank of America increased their price target on shares of Travere Therapeutics from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Travere Therapeutics from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.33.

Travere Therapeutics Trading Up 10.6 %

The business’s 50-day moving average is $9.20 and its two-hundred day moving average is $7.83. 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 stock has a market capitalization of $835.90 million, a PE ratio of -5.23 and a beta of 0.71.

Travere Therapeutics (NASDAQ:TVTX) last issued its 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). The company had revenue of $54.12 million during the quarter, compared to analysts’ expectations of $49.50 million. Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. On average, analysts predict that Travere Therapeutics, Inc. will post -3.98 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TVTX. Forefront Analytics LLC grew its stake in Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after purchasing an additional 1,237 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Travere Therapeutics by 9.2% during the first quarter. ProShare Advisors LLC now owns 18,421 shares of the company’s stock worth $142,000 after buying an additional 1,557 shares in the last quarter. Rice Hall James & Associates LLC increased its stake in shares of Travere Therapeutics by 3.8% in the second quarter. Rice Hall James & Associates LLC now owns 76,174 shares of the company’s stock worth $626,000 after buying an additional 2,774 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Travere Therapeutics by 10.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,009 shares of the company’s stock worth $240,000 after buying an additional 2,948 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Travere Therapeutics by 8.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,178 shares of the company’s stock valued at $387,000 after acquiring an additional 3,754 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.