Travere Therapeutics Inc (NASDAQ:TVTX) Receives Different Reactions From Analysts

In the last trading session, 1.07 million shares of the Travere Therapeutics Inc (NASDAQ:TVTX) were traded, and its beta was 0.59. Most recently the company’s share price was $7.31, and it changed around -$0.4 or -5.19% from the last close, which brings the market valuation of the company to $556.29M. TVTX currently trades at a discount to its 52-week high of $23.17, offering almost -216.96% off that amount. The share price’s 52-week low was $5.25, which indicates that the current value has risen by an impressive 28.18% since then. We note from Travere Therapeutics Inc’s average daily trading volume that its 10-day average is 0.97 million shares, with the 3-month average coming to 1.23 million.

Travere Therapeutics Inc (NASDAQ:TVTX) trade information

Instantly TVTX has showed a red trend with a performance of -5.19% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -18.69% year-to-date, but still down -7.23% over the last five days. On the other hand, Travere Therapeutics Inc (NASDAQ:TVTX) is -3.31% down in the 30-day period. We can see from the shorts that 10.07 million shares have been sold at a short interest cover period of 7.98 day(s).

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The consensus price target as assigned by Wall Street analysts is $28, which translates to bulls needing to increase their stock price by 73.89% from its current value. Analyst projections state that TVTX is forecast to be at a low of $28 and a high of $28.

Travere Therapeutics Inc (TVTX) estimates and forecasts

Travere Therapeutics Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -18.60 percent over the past six months and at a 38.86% annual growth rate that is well above the industry average of 13.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 23.60% in revenue this quarter, and will report an increase of 27.40% in the next quarter. The year-over-year growth rate is expected to be 48.80%, up from the previous year.

Consensus estimates provided by 13 financial analysts predict the company will bring in an average of $44.37 million in revenue for the current quarter. 13 analysts expect Travere Therapeutics Inc to make $51.75 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $56.99 million and $59.7 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -22.10%. Forecasts for the next quarter put sales growth at -13.30%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -12.34%.

TVTX Dividends

Travere Therapeutics Inc’s next quarterly earnings report is expected to be released in May.

Travere Therapeutics Inc (NASDAQ:TVTX)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 1.01% of Travere Therapeutics Inc shares, and 115.18% of them are in the hands of institutional investors. The stock currently has a share float of 116.36%. Travere Therapeutics Inc stock is held by 241 institutions, with Armistice Capital, LLC being the largest institutional investor. By Jun 29, 2023, it held 9.93% of the shares, which is about 7.45 million shares worth $114.43 million.

Deep Track Capital, Lp, with 9.83% or 7.37 million shares worth $113.2 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Delaware Group Equity Fds V-Small Cap Core Fund were the top two Mutual Funds as of Aug 30, 2023. The former held 4.21 million shares worth $60.05 million, making up 5.61% of all outstanding shares. On the other hand, Delaware Group Equity Fds V-Small Cap Core Fund held roughly 3.05 million shares worth around $54.51 million, which represents about 4.06% of the total shares outstanding.