Travere Therapeutics (NASDAQ:TVTX) Stock Rating Reaffirmed by Wedbush

Travere Therapeutics (NASDAQ:TVTX)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a research report issued on Wednesday, Benzinga reports. They presently have a $13.00 price target on the stock. Wedbush’s price target suggests a potential upside of 124.14% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company boosted their price objective on shares of Travere Therapeutics from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Friday, February 16th. Piper Sandler boosted their price objective on shares of Travere Therapeutics from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Guggenheim reaffirmed a “neutral” rating on shares of Travere Therapeutics in a report on Wednesday, March 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $17.00 target price on shares of Travere Therapeutics in a report on Wednesday, March 13th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.85.

Travere Therapeutics Trading Down 3.2 %

NASDAQ:TVTX opened at $5.80 on Wednesday. Travere Therapeutics has a one year low of $5.25 and a one year high of $22.75. The company has a debt-to-equity ratio of 1.88, a current ratio of 3.47 and a quick ratio of 3.41. The company’s 50-day simple moving average is $7.62 and its 200 day simple moving average is $7.75. The firm has a market capitalization of $441.44 million, a P/E ratio of -3.60 and a beta of 0.58.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($1.16) EPS for the quarter, topping the consensus estimate of ($1.27) by $0.11. Travere Therapeutics had a negative net margin of 56.02% and a negative return on equity of 177.97%. The business had revenue of $45.06 million for the quarter, compared to analyst estimates of $41.25 million. As a group, analysts forecast that Travere Therapeutics will post -3.1 EPS for the current fiscal year.

Insider Activity

In other news, SVP William E. Rote sold 4,764 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $8.71, for a total transaction of $41,494.44. Following the completion of the transaction, the senior vice president now directly owns 80,720 shares of the company’s stock, valued at $703,071.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Travere Therapeutics news, CFO Christopher R. Cline sold 3,818 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $8.53, for a total transaction of $32,567.54. Following the completion of the sale, the chief financial officer now directly owns 70,903 shares of the company’s stock, valued at $604,802.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP William E. Rote sold 4,764 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $8.71, for a total transaction of $41,494.44. Following the sale, the senior vice president now directly owns 80,720 shares of the company’s stock, valued at $703,071.20. The disclosure for this sale can be found here. Insiders sold 48,030 shares of company stock valued at $419,773 over the last three months. Insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Travere Therapeutics by 10.9% during the third quarter. Vanguard Group Inc. now owns 4,667,458 shares of the company’s stock valued at $41,727,000 after buying an additional 460,176 shares during the last quarter. Jump Financial LLC boosted its position in shares of Travere Therapeutics by 232.3% in the third quarter. Jump Financial LLC now owns 188,925 shares of the company’s stock worth $1,689,000 after purchasing an additional 132,067 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in shares of Travere Therapeutics by 71.4% in the third quarter. Schonfeld Strategic Advisors LLC now owns 524,000 shares of the company’s stock worth $4,685,000 after purchasing an additional 218,371 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of Travere Therapeutics by 9.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,671,770 shares of the company’s stock worth $14,946,000 after purchasing an additional 146,970 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Travere Therapeutics in the third quarter worth approximately $1,179,000.

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.