In the latest trading session, 0.78 million Travere Therapeutics Inc (NASDAQ:TVTX) shares changed hands as the company’s beta touched 0.49. With the company’s most recent per share price at $5.88 changing hands around $0.13 or 2.17% at last look, the market valuation stands at $441.51M. TVTX’s current price is a discount, trading about -294.22% off its 52-week high of $23.18. The share price had its 52-week low at $5.25, which suggests the last value was 10.71% up since then. When we look at Travere Therapeutics Inc’s average trading volume, we note the 10-day average is 1.62 million shares, with the 3-month average coming to 1.81 million.
Analysts gave the Travere Therapeutics Inc (TVTX) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.69. If we narrow down to specifics, the data shows that 0 out of 16 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 5 recommended TVTX as a Hold, 10 felt it is a Buy and 0 rated the stock as Underweight. Travere Therapeutics Inc’s EPS for the current quarter is expected to be -$1.22.
Travere Therapeutics Inc (NASDAQ:TVTX) trade information
Instantly TVTX is in green as seen in intraday trades today. With action -3.53%, the performance over the past five days has been red. The jump to weekly highs of 6.45 on Monday, 11/20/23 added 2.17% to the stock’s daily price. The company’s shares are showing year-to-date downside of -72.06%, with the 5-day performance at -3.53% in the red. However, in the 30-day time frame, Travere Therapeutics Inc (NASDAQ:TVTX) is -16.43% down. Looking at the short shares, we see there were 8.81 million shares sold at short interest cover period of 6.24 days.
The consensus price target for the stock as assigned by Wall Street analysts is $14.33, meaning bulls need an upside of 58.97% from its recent market value. According to analyst projections, TVTX’s forecast low is $7.00 with $23.00 as the target high. To hit the forecast high, the stock’s price needs a -291.16% plunge from its current level, while the stock would need to soar -19.05% for it to hit the projected low.
Travere Therapeutics Inc (TVTX) estimates and forecasts
Data shows that the Travere Therapeutics Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -65.40% over the past 6 months, a 52.40% in annual growth rate that is considerably higher than the industry average of 14.80%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Travere Therapeutics Inc will fall -18.40%, while the growth in revenue is estimated to hit 15.00% for the next quarter. Year-over-year growth is forecast to reach -8.30% down from the last financial year.
Consensus estimates given by 11 financial analysts project the company’s revenue in the current quarter to hit an average of $41.21 million. 6 analysts are of the opinion that Travere Therapeutics Inc’s revenue for the quarter ending Mar 2024 will be $46.2 million. The company’s revenue for the corresponding quarters a year ago was $55.87 million and $56.99 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -26.20%. The estimates for the next quarter sales put growth at -18.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -23.18%. The 2023 estimates are for Travere Therapeutics Inc earnings to increase by 56.28%.
Travere Therapeutics Inc is expected to release its next quarterly earnings report between February 21 and February 26.
Travere Therapeutics Inc (NASDAQ:TVTX)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.03% of Travere Therapeutics Inc shares while 113.27% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 114.45%. There are 113.27% institutions holding the Travere Therapeutics Inc stock share, with Armistice Capital, LLC the top institutional holder. As of Jun 29, 2023, the company held 9.93% of the shares, roughly 7.45 million TVTX shares worth $114.43 million.
Deep Track Capital, Lp holds the second largest percentage of outstanding shares, with 9.83% or 7.37 million shares worth $113.2 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Aug 30, 2023 were SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Delaware Group Equity Fds V-Small Cap Core Fund. With 4.21 million shares estimated at $60.05 million under it, the former controlled 5.61% of total outstanding shares. On the other hand, Delaware Group Equity Fds V-Small Cap Core Fund held about 4.06% of the shares, roughly 3.05 million shares worth around $54.51 million.