Leerink Partnrs Has Positive Outlook of TVTX FY2024 Earnings

Travere Therapeutics, Inc. (NASDAQ:TVTX) – Leerink Partnrs raised their FY2024 earnings per share (EPS) estimates for Travere Therapeutics in a report issued on Monday, January 20th. Leerink Partnrs analyst J. Schwartz now expects that the company will post earnings of ($3.99) per share for the year, up from their previous estimate of ($4.03). The consensus estimate for Travere Therapeutics’ current full-year earnings is ($3.93) per share. Leerink Partnrs also issued estimates for Travere Therapeutics’ Q4 2024 earnings at ($0.62) EPS, Q1 2025 earnings at ($0.59) EPS, Q2 2025 earnings at ($0.43) EPS, Q3 2025 earnings at ($0.34) EPS, Q4 2025 earnings at $0.32 EPS and FY2025 earnings at ($1.01) EPS.

TVTX has been the topic of several other research reports. Barclays increased their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Wedbush increased their target price on Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Guggenheim boosted their price target on Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Bank of America raised their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Piper Sandler boosted their target price on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Travere Therapeutics Trading Up 5.9 %

NASDAQ TVTX opened at $19.46 on Wednesday. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -4.28 and a beta of 0.70. 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 12 month low of $5.12 and a 12 month high of $20.33. The company’s fifty day moving average price is $18.21 and its two-hundred day moving average price is $14.72.

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

Insider Transactions at Travere Therapeutics

In other news, insider Jula Inrig sold 2,066 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $19.10, for a total transaction of $39,460.60. Following the completion of the transaction, the insider now directly owns 59,883 shares in the company, valued at approximately $1,143,765.30. The trade was a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Sandra Calvin sold 12,090 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $18.30, for a total value of $221,247.00. Following the completion of the transaction, the chief accounting officer now directly owns 54,927 shares of the company’s stock, valued at $1,005,164.10. This trade represents a 18.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,596 shares of company stock worth $527,262. Insiders own 4.06% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC raised its position in shares of Travere Therapeutics by 158.5% during the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after buying an additional 3,065 shares in the last quarter. Quarry LP bought a new stake in Travere Therapeutics during the third quarter worth approximately $105,000. Diversified Trust Co acquired a new stake in Travere Therapeutics in the third quarter worth approximately $161,000. DRW Securities LLC bought a new position in Travere Therapeutics during the 2nd quarter valued at $95,000. Finally, Aigen Investment Management LP bought a new position in Travere Therapeutics during the 3rd quarter valued at $170,000.

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.