Travere Therapeutics (NASDAQ:TVTX) Price Target Lowered to $39.00 at Wedbush

Travere Therapeutics (NASDAQ:TVTX) had its target price reduced by Wedbush from $46.00 to $39.00 in a report released on Monday, The Fly reports. Wedbush currently has an outperform rating on the stock. Wedbush also issued estimates for Travere Therapeutics’ Q1 2021 earnings at ($0.40) EPS, Q2 2021 earnings at ($0.37) EPS, Q3 2021 earnings at ($0.43) EPS, Q4 2021 earnings at ($0.48) EPS, FY2021 earnings at ($1.68) EPS, FY2022 earnings at ($2.27) EPS, FY2023 earnings at ($1.45) EPS, FY2024 earnings at $0.47 EPS and FY2025 earnings at $2.88 EPS.

TVTX has been the subject of several other research reports. SVB Leerink restated an outperform rating on shares of Travere Therapeutics in a research report on Wednesday, March 3rd. Canaccord Genuity lifted their price target on shares of Travere Therapeutics from $28.00 to $51.00 and gave the company a buy rating in a research report on Wednesday, February 3rd. Zacks Investment Research lowered Travere Therapeutics from a hold rating to a sell rating in a research note on Thursday, March 18th. BMO Capital Markets cut their price target on Travere Therapeutics from $48.00 to $43.00 in a report on Tuesday, March 2nd. Finally, TheStreet downgraded shares of Travere Therapeutics from a c- rating to a d rating in a report on Monday, March 1st. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Travere Therapeutics currently has an average rating of Buy and a consensus price target of $42.00.

Shares of NASDAQ:TVTX opened at $25.94 on Monday. The business’s 50-day simple moving average is $26.69. Travere Therapeutics has a 12-month low of $12.82 and a 12-month high of $33.09. The company has a quick ratio of 6.50, a current ratio of 6.60 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1.57 billion, a P/E ratio of -15.26 and a beta of 0.77.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Monday, March 1st. The company reported ($2.37) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($1.94). Travere Therapeutics had a negative net margin of 40.24% and a negative return on equity of 29.27%. The firm had revenue of $50.98 million during the quarter, compared to analysts’ expectations of $51.27 million. On average, sell-side analysts expect that Travere Therapeutics will post -1.42 EPS for the current year.

In related news, CEO Eric M. Dube sold 2,406 shares of the company’s stock in a transaction that occurred on Wednesday, February 3rd. The shares were sold at an average price of $28.91, for a total value of $69,557.46. Also, SVP Elizabeth E. Reed sold 3,175 shares of the stock in a transaction on Wednesday, February 3rd. The shares were sold at an average price of $28.91, for a total value of $91,789.25. Insiders have sold 31,246 shares of company stock valued at $875,013 over the last 90 days. 4.63% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. Calamos Advisors LLC acquired a new position in Travere Therapeutics in the first quarter worth approximately $2,563,000. Pacer Advisors Inc. lifted its stake in shares of Travere Therapeutics by 48.0% in the first quarter. Pacer Advisors Inc. now owns 2,293 shares of the company’s stock valued at $57,000 after buying an additional 744 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Travere Therapeutics during the fourth quarter valued at about $386,000. Dimensional Fund Advisors LP bought a new stake in shares of Travere Therapeutics in the 4th quarter worth approximately $32,481,000. Finally, Norges Bank bought a new position in Travere Therapeutics in the fourth quarter worth $673,000.

Travere Therapeutics Company Profile

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 8, 2008 and is headquartered in San Diego, CA.

See Also: What are Closed-End Mutual Funds?

The Fly

Analyst Recommendations for Travere Therapeutics (NASDAQ:TVTX)

Receive News & Ratings for Travere Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Travere Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.