Travere Therapeutics (NASDAQ:TVTX) PT Lowered to $18.00 at HC Wainwright

Travere Therapeutics (NASDAQ:TVTX) had its target price decreased by HC Wainwright from $23.00 to $18.00 in a report published on Friday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on TVTX. Canaccord Genuity Group lifted their target price on shares of Travere Therapeutics from $18.00 to $23.00 and gave the stock a buy rating in a research report on Tuesday, September 10th. Bank of America decreased their price objective on shares of Travere Therapeutics from $19.00 to $18.00 and set a buy rating on the stock in a research report on Friday. Barclays boosted their price objective on shares of Travere Therapeutics from $12.00 to $14.00 and gave the company an overweight rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company an overweight rating in a research report on Friday, September 13th. Finally, Citigroup boosted their price objective on shares of Travere Therapeutics from $14.00 to $23.00 and gave the company a buy rating in a research report on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Travere Therapeutics presently has a consensus rating of Moderate Buy and a consensus price target of $16.82.

Travere Therapeutics Stock Down 6.8 %

Shares of NASDAQ:TVTX opened at $14.01 on Friday. The firm has a fifty day moving average price of $10.66 and a two-hundred day moving average price of $8.45. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. Travere Therapeutics has a one year low of $5.12 and a one year high of $15.36. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -6.67 and a beta of 0.71.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The company had revenue of $54.12 million for the quarter, compared to analysts’ expectations of $49.50 million. Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. Analysts anticipate that Travere Therapeutics will post -3.95 EPS for the current fiscal year.

Insider Activity

In other news, SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $50,538.24. Following the transaction, the senior vice president now owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the sale, the senior vice president now owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric M. Dube sold 21,125 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $243,360.00. Following the sale, the chief executive officer now directly owns 361,975 shares in the company, valued at approximately $4,169,952. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,707 shares of company stock worth $352,712. 3.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Travere Therapeutics

Several large investors have recently made changes to their positions in the company. Crestline Management LP grew its holdings in shares of Travere Therapeutics by 32.6% during the fourth quarter. Crestline Management LP now owns 81,423 shares of the company’s stock worth $732,000 after buying an additional 20,002 shares in the last quarter. Finepoint Capital LP grew its holdings in shares of Travere Therapeutics by 60.2% in the fourth quarter. Finepoint Capital LP now owns 1,435,321 shares of the company’s stock valued at $12,904,000 after purchasing an additional 539,500 shares during the period. Rafferty Asset Management LLC grew its holdings in shares of Travere Therapeutics by 18.6% in the fourth quarter. Rafferty Asset Management LLC now owns 429,161 shares of the company’s stock valued at $3,858,000 after purchasing an additional 67,168 shares during the period. Sectoral Asset Management Inc. purchased a new stake in shares of Travere Therapeutics in the fourth quarter valued at about $2,469,000. Finally, Kynam Capital Management LP grew its holdings in shares of Travere Therapeutics by 105.6% in the fourth quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock valued at $17,980,000 after purchasing an additional 1,027,398 shares during the period.

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.