Travere Therapeutics (NASDAQ:TVTX) Stock Price Down 6.1%

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTXGet Free Report) were down 6.1% during mid-day trading on Thursday . The stock traded as low as $7.32 and last traded at $7.35. Approximately 219,510 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 1,230,257 shares. The stock had previously closed at $7.83.

Analyst Ratings Changes

A number of brokerages have weighed in on TVTX. Wells Fargo & Company boosted their target price on Travere Therapeutics from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Friday, February 16th. Wedbush restated an “outperform” rating and set a $13.00 price objective on shares of Travere Therapeutics in a research report on Wednesday, April 17th. Canaccord Genuity Group lifted their target price on shares of Travere Therapeutics from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. HC Wainwright reissued a “buy” rating and set a $19.00 price target on shares of Travere Therapeutics in a report on Tuesday, May 7th. Finally, Guggenheim restated a “neutral” rating on shares of Travere Therapeutics in a research note on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $15.58.

Check Out Our Latest Research Report on TVTX

Travere Therapeutics Trading Down 1.4 %

The stock has a market cap of $542.81 million, a P/E ratio of -3.40 and a beta of 0.78. The company has a debt-to-equity ratio of 5.10, a current ratio of 2.78 and a quick ratio of 2.75. The stock’s 50-day moving average is $6.52 and its two-hundred day moving average is $7.63.

Travere Therapeutics (NASDAQ:TVTXGet Free Report) last issued its earnings results on Monday, May 6th. The company reported ($1.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.78). The firm had revenue of $41.40 million during the quarter, compared to analysts’ expectations of $43.46 million. Travere Therapeutics had a negative return on equity of 238.06% and a negative net margin of 87.94%. The business’s revenue was up 34.0% on a year-over-year basis. During the same quarter last year, the business earned ($1.27) EPS. Equities research analysts anticipate that Travere Therapeutics, Inc. will post -3.66 EPS for the current year.

Institutional Trading of Travere Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC boosted its stake in shares of Travere Therapeutics by 1,656.4% in the fourth quarter. Signaturefd LLC now owns 3,021 shares of the company’s stock worth $27,000 after buying an additional 2,849 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in Travere Therapeutics in the 1st quarter worth approximately $32,000. Nisa Investment Advisors LLC boosted its position in Travere Therapeutics by 968.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,650 shares of the company’s stock worth $51,000 after purchasing an additional 5,121 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Travere Therapeutics by 353.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,690 shares of the company’s stock worth $78,000 after purchasing an additional 6,773 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Travere Therapeutics during the 4th quarter valued at approximately $137,000.

About Travere Therapeutics

(Get Free Report)

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.

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