Travere Therapeutics (NASDAQ:TVTX) Coverage Initiated at TD Cowen

TD Cowen started coverage on shares of Travere Therapeutics (NASDAQ:TVTX – Get Rating) in a research report released on Monday, Briefing.com reports. The brokerage issued an outperform rating and a $30.00 price target on the stock.

Several other research firms have also recently weighed in on TVTX. HC Wainwright dropped their price target on shares of Travere Therapeutics from $40.00 to $22.00 in a research note on Tuesday, May 2nd. Barclays dropped their price target on shares of Travere Therapeutics from $37.00 to $31.00 and set an overweight rating for the company in a research note on Tuesday, February 21st. Piper Sandler lowered their price objective on shares of Travere Therapeutics from $44.00 to $41.00 in a research report on Monday, March 13th. Evercore ISI lowered their price objective on shares of Travere Therapeutics from $36.00 to $26.00 in a research report on Tuesday, May 2nd. Finally, Canaccord Genuity Group lowered their price objective on shares of Travere Therapeutics from $44.00 to $42.00 and set a buy rating for the company in a research report on Tuesday, February 28th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Travere Therapeutics has an average rating of Moderate Buy and a consensus target price of $29.85.

Travere Therapeutics Stock Down 2.8 %

Shares of NASDAQ TVTX opened at $16.31 on Monday. Travere Therapeutics has a 12-month low of $14.51 and a 12-month high of $29.14. The stock has a market cap of $1.22 billion, a PE ratio of -3.67 and a beta of 0.46. The company has a current ratio of 4.63, a quick ratio of 4.58 and a debt-to-equity ratio of 1.99. The company has a 50-day moving average of $19.49 and a 200 day moving average of $20.28.

Travere Therapeutics (NASDAQ:TVTX – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The company reported ($1.03) earnings per share for the quarter, beating the consensus estimate of ($1.04) by $0.01. Travere Therapeutics had a negative net margin of 130.98% and a negative return on equity of 236.09%. The business had revenue of $55.87 million during the quarter, compared to analysts’ expectations of $54.80 million. As a group, sell-side analysts predict that Travere Therapeutics will post -4.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Travere Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE raised its holdings in shares of Travere Therapeutics by 1,372.3% in the 1st quarter. US Bancorp DE now owns 1,487 shares of the company’s stock valued at $38,000 after purchasing an additional 1,386 shares in the last quarter. Point72 Hong Kong Ltd raised its holdings in shares of Travere Therapeutics by 2,540.3% in the 1st quarter. Point72 Hong Kong Ltd now owns 5,439 shares of the company’s stock valued at $140,000 after purchasing an additional 5,233 shares in the last quarter. ETF Managers Group LLC acquired a new stake in Travere Therapeutics during the 1st quarter worth $143,000. Elequin Securities LLC acquired a new stake in Travere Therapeutics during the 4th quarter worth $149,000. Finally, Quantbot Technologies LP acquired a new stake in Travere Therapeutics during the 2nd quarter worth $157,000.

Travere Therapeutics Company Profile

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Travere Therapeutics, Inc is a biopharmaceutical company. It engages in the identification, development, commercialization, and distribution of therapies to people living with rare diseases. The firm’s products include Chenodal, Cholbam, and Thiola. The company was founded by Martin Shkreli on February 7, 2008 and is headquartered in San Diego, CA.