Travere Therapeutics (NASDAQ:TVTX) Stock Price Down 10.4%

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) dropped 10.4% during mid-day trading on Monday . The stock traded as low as $7.93 and last traded at $8.06. Approximately 564,545 shares traded hands during trading, a decline of 54% from the average daily volume of 1,227,376 shares. The stock had previously closed at $9.00.

Analysts Set New Price Targets

TVTX has been the subject of several analyst reports. Piper Sandler lifted their price target on shares of Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Friday. Canaccord Genuity Group boosted their target price on shares of Travere Therapeutics from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. HC Wainwright boosted their target price on shares of Travere Therapeutics from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday. Wedbush boosted their target price on shares of Travere Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Barclays boosted their target price on shares of Travere Therapeutics from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Friday. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.27.

Travere Therapeutics Trading Down 5.2 %

The company has a debt-to-equity ratio of 5.10, a quick ratio of 2.75 and a current ratio of 2.78. The firm’s fifty day simple moving average is $8.36 and its 200-day simple moving average is $7.74. The stock has a market cap of $649.38 million, a P/E ratio of -4.05 and a beta of 0.77.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Monday, May 6th. The company reported ($1.76) EPS for the quarter, missing the consensus estimate of ($0.98) by ($0.78). The company had revenue of $41.40 million for the quarter, compared to analyst estimates of $43.46 million. Travere Therapeutics had a negative return on equity of 207.40% and a negative net margin of 82.14%. The business’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same period last year, the business earned ($1.27) EPS. Equities research analysts expect that Travere Therapeutics, Inc. will post -3.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Travere Therapeutics

Large investors have recently bought and sold shares of the stock. Signaturefd LLC lifted its stake in Travere Therapeutics by 1,656.4% during the 4th quarter. Signaturefd LLC now owns 3,021 shares of the company’s stock valued at $27,000 after acquiring an additional 2,849 shares in the last quarter. EntryPoint Capital LLC bought a new position in Travere Therapeutics during the 1st quarter valued at $32,000. Nisa Investment Advisors LLC lifted its stake in Travere Therapeutics by 968.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,650 shares of the company’s stock valued at $51,000 after acquiring an additional 5,121 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Travere Therapeutics by 353.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,690 shares of the company’s stock valued at $78,000 after acquiring an additional 6,773 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Travere Therapeutics during the 4th quarter worth $137,000.

About Travere Therapeutics

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.