Travere Therapeutics Inc. (NASDAQ: TVTX) stock jumped 0.23% on Friday to $21.88 against a previous-day closing price of $21.83. With 0.96 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.84 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $22.14 whereas the lowest price it dropped to was $21.62. The 52-week range on TVTX shows that it touched its highest point at $30.35 and its lowest point at $17.97 during that stretch. It currently has a 1-year price target of $32.25. Beta for the stock currently stands at 0.45.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TVTX was up-trending over the past week, with a rise of 2.48%, but this was up by 10.84% over a month. Three-month performance dropped to -1.62% while six-month performance fell -9.36%. The stock lost -17.62% in the past year, while it has gained 4.04% so far this year. A look at the trailing 12-month EPS for TVTX yields -4.18 with Next year EPS estimates of -3.51. For the next quarter, that number is -0.97. This implies an EPS growth rate of 24.20% for this year and 19.90% for next year.
Float and Shares Shorts:
At present, 64.03 million TVTX shares are outstanding with a float of 63.33 million shares on hand for trading. On Oct 13, 2022, short shares totaled 6.39 million, which was 9.99% higher than short shares on Sep 14, 2022. In addition to Dr. Eric M. Dube Ph.D. as the firm’s Pres, CEO & Director, Ms. Elizabeth E. Reed serves as its Sr. VP, Gen. Counsel & Corp. Sec.
Through their ownership of 110.78% of TVTX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 70.98% of TVTX, in contrast to 38.03% held by mutual funds. Shares owned by individuals account for 1.29%. As the largest shareholder in TVTX with 9.09% of the stake, Armistice Capital LLC holds 5,836,000 shares worth 5,836,000. A second-largest stockholder of TVTX, RA Capital Management LP, holds 4,922,941 shares, controlling over 7.67% of the firm’s shares. Deep Track Capital LP is the third largest shareholder in TVTX, holding 4,000,000 shares or 6.23% stake. With a 4.89% stake in TVTX, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 3,136,801 shares are owned by the mutual fund manager. The Delaware Small Cap Core Fund, which owns about 4.53% of TVTX stock, is the second-largest Mutual Fund holder. It holds 2,909,403 shares valued at 61.18 million. Vanguard Total Stock Market Index holds 3.08% of the stake in TVTX, owning 1,975,007 shares worth 41.53 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TVTX since 12 analysts follow the stock currently. There are 9 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With TVTX analysts setting a high price target of $44.00 and a low target of $22.00, the average target price over the next 12 months is $34.70. Based on these targets, TVTX could surge 101.1% to reach the target high and rise by 0.55% to reach the target low. Reaching the average price target will result in a growth of 58.59% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. TVTX will report FY 2022 earnings on 02/23/2024. Analysts have provided yearly estimates in a range of -$4.05 being high and -$5.02 being low. For TVTX, this leads to a yearly average estimate of -$4.41. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Travere Therapeutics Inc. surprised analysts by -$0.14 when it reported -$1.09 EPS against a consensus estimate of -$0.95. The surprise factor in the prior quarter was -$0.11. Based on analyst estimates, the high estimate for the next quarter is -$0.70 and the low estimate is -$1.67. The average estimate for the next quarter is thus -$1.07.
Summary of Insider Activity:
Insiders traded TVTX stock several times over the past three months with 0 Buys and 2 Sells. In these transactions, 0 shares were bought while 6,067 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has risen to 20 over the past year. The total number of shares bought during that period was 117,958 while 33,908 shares were sold.