FY2024 Earnings Forecast for TVTX Issued By Leerink Partnrs

Travere Therapeutics, Inc. (NASDAQ:TVTX) – Equities research analysts at Leerink Partnrs upped their FY2024 EPS estimates for Travere Therapeutics in a research report issued on Monday, January 20th. Leerink Partnrs analyst J. Schwartz now expects that the company will post earnings per share of ($3.99) for the year, up from their previous forecast of ($4.03). The consensus estimate for Travere Therapeutics’ current full-year earnings is ($3.93) per share. Leerink Partnrs also issued estimates for Travere Therapeutics’ Q4 2024 earnings at ($0.62) EPS, Q1 2025 earnings at ($0.59) EPS, Q2 2025 earnings at ($0.43) EPS, Q3 2025 earnings at ($0.34) EPS, Q4 2025 earnings at $0.32 EPS and FY2025 earnings at ($1.01) EPS.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.01. The business 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 revenue for the quarter was up 69.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.17) EPS.

TVTX has been the topic of a number of other research reports. Bank of America upped their target price on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. HC Wainwright increased their price objective on Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Citigroup cut their target price on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Piper Sandler raised their price target on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, Scotiabank boosted their price objective on shares of Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Travere Therapeutics Stock Performance

Shares of TVTX opened at $19.46 on Wednesday. The company has a 50-day moving average of $18.21 and a two-hundred day moving average of $14.72. The stock has a market cap of $1.52 billion, a P/E ratio of -4.28 and a beta of 0.70. Travere Therapeutics has a 12-month low of $5.12 and a 12-month 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.

Insider Buying and Selling at Travere Therapeutics

In other news, CAO Sandra Calvin sold 12,090 shares of Travere Therapeutics stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $18.30, for a total value of $221,247.00. Following the transaction, the chief accounting officer now directly owns 54,927 shares of the company’s stock, valued at $1,005,164.10. The trade was a 18.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jula Inrig sold 2,066 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $19.10, for a total value of $39,460.60. Following the sale, the insider now owns 59,883 shares of the company’s stock, valued at $1,143,765.30. The trade was a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,596 shares of company stock worth $527,262 in the last quarter. 4.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted 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 worth $24,244,000 after purchasing an additional 747,406 shares during the period. Emerald Advisers LLC grew its stake in shares of Travere Therapeutics by 19.8% in the third quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock valued at $27,430,000 after buying an additional 323,513 shares in the last quarter. Finepoint Capital LP raised its holdings in shares of Travere Therapeutics by 0.3% during the 3rd quarter. Finepoint Capital LP now owns 1,782,267 shares of the company’s stock valued at $24,934,000 after buying an additional 5,539 shares during the period. Geode Capital Management LLC lifted its position in Travere Therapeutics by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock worth $24,222,000 after acquiring an additional 64,744 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in Travere Therapeutics by 26.0% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company’s stock worth $16,588,000 after acquiring an additional 244,444 shares during the period.

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.