Wedbush Forecasts Reduced Earnings for Travere Therapeutics

Travere Therapeutics, Inc. (NASDAQ:TVTX) – Analysts at Wedbush cut their FY2028 earnings per share estimates for Travere Therapeutics in a research note issued on Thursday, January 23rd. Wedbush analyst L. Chico now forecasts that the company will post earnings of $3.79 per share for the year, down from their prior estimate of $3.91. Wedbush has a “Outperform” rating and a $25.00 price objective on the stock. The consensus estimate for Travere Therapeutics’ current full-year earnings is ($3.92) per share.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm’s quarterly revenue was up 69.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.17) EPS.

A number of other equities analysts have also recently weighed in on the company. HC Wainwright upped their price target on Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Wells Fargo & Company upgraded 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 note on Monday, October 21st. Barclays lifted their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Canaccord Genuity Group cut their price target on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Bank of America upped their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Travere Therapeutics Price Performance

TVTX stock opened at $20.81 on Friday. The firm has a market cap of $1.62 billion, a P/E ratio of -4.57 and a beta of 0.70. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $20.89. The stock has a 50-day simple moving average of $18.28 and a 200-day simple moving average of $14.79.

Insider Activity at Travere Therapeutics

In other news, insider Peter Heerma sold 1,584 shares of Travere Therapeutics stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total transaction of $30,000.96. Following the sale, the insider now owns 106,374 shares of the company’s stock, valued at approximately $2,014,723.56. The trade was a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Sandra Calvin sold 15,000 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $17.22, for a total value of $258,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 54,927 shares of the company’s stock, valued at $945,842.94. This trade represents a 21.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,143 shares of company stock worth $1,167,512 in the last ninety days. 3.75% of the stock is owned by insiders.

Institutional Trading of Travere Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in TVTX. Creative Planning raised its holdings in Travere Therapeutics by 4.3% during the third quarter. Creative Planning now owns 23,938 shares of the company’s stock worth $335,000 after purchasing an additional 995 shares in the last quarter. Forefront Analytics LLC lifted its holdings 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 valued at $109,000 after buying an additional 1,237 shares during the period. R Squared Ltd bought a new position in Travere Therapeutics during the fourth quarter valued at about $53,000. CWM LLC grew its holdings in Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after acquiring an additional 3,065 shares during the period. Finally, Diversified Trust Co raised its position in Travere Therapeutics by 27.5% in the fourth quarter. Diversified Trust Co now owns 14,701 shares of the company’s stock worth $256,000 after acquiring an additional 3,169 shares in the last quarter.

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.