Travere Therapeutics (NASDAQ:TVTX) Trading Down 5.9%

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) fell 5.9% during trading on Thursday . The stock traded as low as $9.44 and last traded at $9.46. 312,444 shares changed hands during trading, a decline of 74% from the average session volume of 1,180,724 shares. The stock had previously closed at $10.05.

Analyst Ratings Changes

TVTX has been the subject of a number of research reports. Wedbush lifted their price target on Travere Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Barclays boosted their price target on Travere Therapeutics from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. HC Wainwright raised their price objective on Travere Therapeutics from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday. Citigroup boosted their target price on shares of Travere Therapeutics from $14.00 to $23.00 and gave the company a “buy” rating in a research note on Friday. Finally, Piper Sandler upped their target price on Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.33.

Travere Therapeutics Stock Up 10.6 %

The stock has a fifty day moving average of $9.20 and a 200-day moving average of $7.83. The firm has a market capitalization of $835.90 million, a price-to-earnings ratio of -5.23 and a beta of 0.71. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The company had revenue of $54.12 million during the quarter, compared to analysts’ expectations of $49.50 million. As a group, sell-side analysts expect that Travere Therapeutics, Inc. will post -3.98 EPS for the current year.

Institutional Investors Weigh In On Travere Therapeutics

Large investors have recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new position in Travere Therapeutics during the 1st quarter worth approximately $32,000. DRW Securities LLC purchased a new stake in shares of Travere Therapeutics in the second quarter valued at $95,000. Forefront Analytics LLC boosted its position in shares of Travere Therapeutics by 10.2% in the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after buying an additional 1,237 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of Travere Therapeutics by 68.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock valued at $113,000 after buying an additional 5,962 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in Travere Therapeutics during the second quarter valued at $117,000.

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.