Cantor Fitzgerald Reaffirms Overweight Rating for Travere Therapeutics (NASDAQ:TVTX)

Cantor Fitzgerald reiterated their overweight rating on shares of Travere Therapeutics (NASDAQ:TVTX) in a report issued on Thursday,Benzinga reports.

A number of other analysts have also issued reports on TVTX. Evercore ISI lifted their price target on Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group upped their target price on shares of Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Citigroup increased their target price on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, February 24th. HC Wainwright boosted their price target on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Finally, Scotiabank increased their price objective on shares of Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.46.

Travere Therapeutics Stock Performance

TVTX opened at $14.99 on Thursday. The firm’s fifty day simple moving average is $20.48 and its two-hundred day simple moving average is $18.61. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $25.29. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -3.66 and a beta of 0.84. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The company had revenue of $74.79 million during the quarter, compared to analysts’ expectations of $72.38 million. Equities analysts anticipate that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP William E. Rote sold 2,437 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total transaction of $47,424.02. Following the completion of the sale, the senior vice president now directly owns 83,170 shares of the company’s stock, valued at approximately $1,618,488.20. This trade represents a 2.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric M. Dube sold 10,736 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total transaction of $208,922.56. Following the completion of the sale, the chief executive officer now owns 351,239 shares in the company, valued at approximately $6,835,110.94. This trade represents a 2.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,269 shares of company stock valued at $4,155,251. 3.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Travere Therapeutics

Several large investors have recently made changes to their positions in the stock. Entropy Technologies LP purchased a new stake in Travere Therapeutics in the fourth quarter valued at approximately $214,000. US Bancorp DE raised its holdings in shares of Travere Therapeutics by 323.4% in the 4th quarter. US Bancorp DE now owns 31,795 shares of the company’s stock valued at $554,000 after buying an additional 24,286 shares during the period. FMR LLC lifted its stake in Travere Therapeutics by 27.5% during the 3rd quarter. FMR LLC now owns 147,416 shares of the company’s stock worth $2,062,000 after acquiring an additional 31,772 shares in the last quarter. Two Sigma Advisers LP lifted its stake in Travere Therapeutics by 30.2% during the 3rd quarter. Two Sigma Advisers LP now owns 720,400 shares of the company’s stock worth $10,078,000 after acquiring an additional 167,100 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings 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 valued at $24,222,000 after acquiring an additional 64,744 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.