Zacks Investment Research Downgrades Travere Therapeutics (NASDAQ:TVTX) to Strong Sell

Travere Therapeutics (NASDAQ:TVTX) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “Travere Therapeutics Inc. is a biopharmaceutical company. It engages to identify, develop and deliver life-changing therapies. Travere Therapeutics Inc., formerly known as Retrophin Inc., is based in SAN DIEGO. “

TVTX has been the topic of a number of other research reports. Wedbush dropped their price objective on Travere Therapeutics from $46.00 to $39.00 and set an “outperform” rating on the stock in a report on Monday, April 12th. BMO Capital Markets reduced their price objective on shares of Travere Therapeutics from $48.00 to $43.00 in a research note on Tuesday, March 2nd. SVB Leerink restated an “outperform” rating on shares of Travere Therapeutics in a report on Wednesday, March 3rd. TheStreet lowered Travere Therapeutics from a “c-” rating to a “d” rating in a report on Monday, March 1st. Finally, Canaccord Genuity increased their price target on shares of Travere Therapeutics from $28.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, February 3rd. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $42.00.

NASDAQ:TVTX opened at $24.95 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 6.50 and a current ratio of 6.60. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -14.68 and a beta of 0.77. Travere Therapeutics has a twelve month low of $12.82 and a twelve month high of $33.09. The firm’s 50-day simple moving average is $26.61.

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

In other Travere Therapeutics news, insider Noah L. Rosenberg sold 1,813 shares of the business’s stock in a transaction dated Wednesday, February 3rd. The stock was sold at an average price of $28.91, for a total transaction of $52,413.83. Also, CFO Laura Clague sold 3,625 shares of the stock in a transaction that occurred on Wednesday, February 3rd. The shares were sold at an average price of $28.91, for a total transaction of $104,798.75. In the last three months, insiders have sold 31,246 shares of company stock worth $875,013. Insiders own 4.63% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Penserra Capital Management LLC bought a new position in Travere Therapeutics during the fourth quarter worth about $31,000. Pacer Advisors Inc. acquired a new stake in shares of Travere Therapeutics in the fourth quarter valued at approximately $42,000. Lazard Asset Management LLC bought a new position in Travere Therapeutics in the fourth quarter valued at $98,000. Strs Ohio bought a new position in shares of Travere Therapeutics in the 4th quarter valued at about $125,000. Finally, ExodusPoint Capital Management LP bought a new stake in Travere Therapeutics during the fourth quarter worth about $201,000.

About Travere Therapeutics

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.

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