Wedbush Has Optimistic Outlook of TVTX FY2024 Earnings

Travere Therapeutics, Inc. (NASDAQ:TVTX) – Research analysts at Wedbush increased their FY2024 earnings per share (EPS) estimates for Travere Therapeutics in a report released on Thursday, January 23rd. Wedbush analyst L. Chico now forecasts that the company will post earnings per share of ($3.84) for the year, up from their prior estimate of ($3.89). Wedbush currently has a “Outperform” rating and a $25.00 price target on the stock. The consensus estimate for Travere Therapeutics’ current full-year earnings is ($3.92) per share. Wedbush also issued estimates for Travere Therapeutics’ Q4 2024 earnings at ($0.47) EPS, Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.18) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at $0.15 EPS, FY2025 earnings at ($0.49) EPS, FY2026 earnings at $1.45 EPS, FY2027 earnings at $3.27 EPS and FY2029 earnings at $5.46 EPS.

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

Several other analysts have also recently weighed in on TVTX. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $9.00 to $27.00 in a research report on Monday, October 21st. Canaccord Genuity Group lowered their price target 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. Bank of America upped their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Guggenheim raised their price objective on Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Cantor Fitzgerald started coverage on Travere Therapeutics in a research note on Friday, January 10th. They issued an “overweight” rating for the company. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.00.

Travere Therapeutics Trading Down 0.9 %

Shares of Travere Therapeutics stock opened at $20.13 on Monday. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $21.56. The firm has a market cap of $1.57 billion, a PE ratio of -4.42 and a beta of 0.70. The company has a 50 day simple moving average of $18.39 and a two-hundred day simple moving average of $15.02.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TVTX. Jennison Associates LLC purchased a new stake in shares of Travere Therapeutics in the 4th quarter worth $14,222,000. Millennium Management LLC increased its position in Travere Therapeutics by 33.9% in the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after buying an additional 747,406 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Travere Therapeutics by 203.0% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock worth $5,055,000 after buying an additional 412,000 shares during the period. abrdn plc purchased a new position in shares of Travere Therapeutics during the 4th quarter valued at about $6,829,000. Finally, Emerald Advisers LLC grew its stake in shares of Travere Therapeutics by 19.8% during the 3rd quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock valued at $27,430,000 after acquiring an additional 323,513 shares during the period.

Insider Transactions at Travere Therapeutics

In related news, CEO Eric M. Dube sold 10,736 shares of Travere Therapeutics stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $208,922.56. Following the completion of the sale, the chief executive officer now owns 351,239 shares of the company’s stock, valued at $6,835,110.94. The trade was a 2.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Peter Heerma sold 1,584 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $18.94, for a total value of $30,000.96. Following the completion of the transaction, the insider now directly owns 106,374 shares in the company, valued at approximately $2,014,723.56. This represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,143 shares of company stock worth $1,167,512 over the last three months. 3.75% of the stock is currently owned by company insiders.

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.