Travere Therapeutics Inc. (NASDAQ:TVTX) closed Wednesday at $24.00 per share, up from $22.99 a day earlier. While Travere Therapeutics Inc. has overperformed by 4.39%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, TVTX rose by 69.49%, with highs and lows ranging from $31.65 to $13.61, whereas the simple moving average fell by -9.18% in the last 200 days.
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On July 14, 2022, Canaccord Genuity started tracking Travere Therapeutics Inc. (NASDAQ: TVTX) recommending Buy. A report published by Piper Sandler on March 31, 2022, Initiated its previous ‘Overweight’ rating for TVTX. H.C. Wainwright also rated TVTX shares as ‘Buy’, setting a target price of $45 on the company’s shares in an initiating report dated February 28, 2022.
Analysis of Travere Therapeutics Inc. (TVTX)
Further, the quarter-over-quarter increase in sales is 2.30%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Travere Therapeutics Inc.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -70.30% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 5.20, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and TVTX is recording an average volume of 801.83K. On a monthly basis, the volatility of the stock is set at 5.23%, whereas on a weekly basis, it is put at 5.49%, with a loss of -2.72% over the past seven days. Furthermore, long-term investors anticipate a median target price of $40.33, showing growth from the present price of $24.00, which can serve as yet another indication of whether TVTX is worth investing in or should be passed over.
How Do You Analyze Travere Therapeutics Inc. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.20%. This can enable you to see the extent to which executives own the company’s stock.
Are institutional investors increasing their holdings in TVTX shares?
The recent increase in stakes in TVTX appears to be a result of several institutional investors and hedge funds increasing their positions. Armistice Capital LLC’s position in TVTX has increased by 21.58% in the first quarter. The company now owns 4,958,000 shares of the stock, with a value of $120.13 million, following the purchase of 880,000 additional shares during the last quarter. RA Capital Management LP made another decreased to its shares in TVTX during the first quarter, downing its stake by -12.32%. During the last quarter, the company picked up -691,487 additional shares for a total stake of worth $119.28 million, bringing number of shares owned by the company to 4,922,941.
During the first quarter, Janus Henderson Investors US LLC added a 125,689 position in TVTX. BlackRock Fund Advisors sold an additional 25778.0 shares in the last quarter, decreasing its holdings by -0.65%, now holding 3.92 million shares worth $95.02 million. At the end of the first quarter, The Vanguard Group, Inc. decreased its TVTX holdings by -0.74% and now holds 3.76 million TVTX shares valued at $91.17 million with the lessened 28040.0 shares during the period.