Evercore ISI Reaffirms Outperform Rating for Travere Therapeutics (NASDAQ:TVTX)

Travere Therapeutics (NASDAQ:TVTX)‘s stock had its “outperform” rating restated by stock analysts at Evercore ISI in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $30.00 target price on the stock. Evercore ISI’s price target points to a potential upside of 126.93% from the company’s current price.

Several other brokerages have also issued reports on TVTX. JPMorgan Chase & Co. initiated coverage on shares of Travere Therapeutics in a research report on Friday, July 21st. They set an “overweight” rating and a $26.00 target price for the company. HC Wainwright reduced their target price on Travere Therapeutics from $35.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, August 7th. TD Cowen assumed coverage on Travere Therapeutics in a research note on Monday, May 22nd. They set an “outperform” rating and a $30.00 price target for the company. Piper Sandler reduced their price objective on Travere Therapeutics from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, August 18th. Finally, Canaccord Genuity Group dropped their target price on Travere Therapeutics from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, July 18th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $28.50.

Travere Therapeutics Price Performance

Travere Therapeutics stock traded down $0.19 during midday trading on Tuesday, reaching $13.22. 110,851 shares of the stock were exchanged, compared to its average volume of 1,289,530. The company has a debt-to-equity ratio of 3.23, a quick ratio of 3.86 and a current ratio of 3.99. Travere Therapeutics has a 52 week low of $12.57 and a 52 week high of $26.84. The firm has a market cap of $991.63 million, a PE ratio of -2.90 and a beta of 0.42. The company’s fifty day moving average is $14.84 and its 200-day moving average is $17.37.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, August 3rd. The company reported ($1.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.03. The business had revenue of $59.70 million for the quarter, compared to analyst estimates of $53.93 million. Travere Therapeutics had a negative return on equity of 273.80% and a negative net margin of 136.00%. On average, sell-side analysts forecast that Travere Therapeutics will post -4.59 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Eric M. Dube sold 4,455 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $14.71, for a total value of $65,533.05. Following the sale, the chief executive officer now directly owns 242,595 shares of the company’s stock, valued at $3,568,572.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP William E. Rote sold 1,815 shares of Travere Therapeutics stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $14.71, for a total transaction of $26,698.65. Following the sale, the senior vice president now owns 61,173 shares of the company’s stock, valued at approximately $899,854.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric M. Dube sold 4,455 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $14.71, for a total transaction of $65,533.05. Following the completion of the sale, the chief executive officer now owns 242,595 shares of the company’s stock, valued at $3,568,572.45. The disclosure for this sale can be found here. Insiders have sold a total of 6,727 shares of company stock valued at $98,954 in the last quarter. Insiders own 4.71% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE lifted its position in Travere Therapeutics by 1,372.3% during the 1st quarter. US Bancorp DE now owns 1,487 shares of the company’s stock valued at $38,000 after acquiring an additional 1,386 shares during the period. Huntington National Bank increased its position in Travere Therapeutics by 57.8% during the 2nd quarter. Huntington National Bank now owns 1,943 shares of the company’s stock valued at $30,000 after buying an additional 712 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Travere Therapeutics by 551.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,527 shares of the company’s stock valued at $39,000 after buying an additional 2,139 shares during the last quarter. Point72 Hong Kong Ltd boosted its holdings in Travere Therapeutics by 2,540.3% in the first quarter. Point72 Hong Kong Ltd now owns 5,439 shares of the company’s stock worth $140,000 after acquiring an additional 5,233 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in shares of Travere Therapeutics by 21.7% in the second quarter. Ameritas Investment Partners Inc. now owns 6,016 shares of the company’s stock worth $92,000 after acquiring an additional 1,074 shares during the last quarter.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc, a biopharmaceutical company, focuses on the identification, development, commercialization, and delivering of therapies for the treatment of rare diseases. Its marketed products include Chenodal, a synthetic oral form of chenodeoxycholic acid for the treatment of radiolucent stones in gallbladders; Cholbam, a cholic acid capsule to treat pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects, as well as for adjunctive treatment of patients with peroxisomal disorders; and Thiola and Thiola EC, a tiopronin tablet for the treatment of homozygous cystinuria.