Travere Therapeutics (NASDAQ:TVTX) Earns “Outperform” Rating from Wedbush

Travere Therapeutics (NASDAQ:TVTX)‘s stock had its “outperform” rating reissued 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 target price points to a potential upside of 116.67% from the company’s current price.

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

Travere Therapeutics Price Performance

NASDAQ TVTX traded down $0.15 during trading hours on Wednesday, reaching $6.00. The company’s stock had a trading volume of 751,145 shares, compared to its average volume of 1,241,405. The stock has a market cap of $456.65 million, a PE ratio of -3.73 and a beta of 0.58. Travere Therapeutics has a fifty-two week low of $5.25 and a fifty-two week high of $22.75. The company’s 50-day moving average is $7.72 and its two-hundred day moving average is $7.77. The company has a debt-to-equity ratio of 1.88, a quick ratio of 3.41 and a current ratio of 3.47.

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

Insider Buying and Selling

In related news, CFO Christopher R. Cline sold 3,818 shares of the firm’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 value of $32,567.54. Following the sale, the chief financial officer now directly owns 70,903 shares of the company’s stock, valued at $604,802.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Christopher R. Cline sold 3,818 shares of the firm’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 value of $32,567.54. Following the transaction, the chief financial officer now owns 70,903 shares in the company, valued at $604,802.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric M. Dube sold 19,122 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $8.70, for a total transaction of $166,361.40. Following the completion of the transaction, the chief executive officer now owns 350,600 shares in the company, valued at approximately $3,050,220. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,030 shares of company stock valued at $419,773. Insiders own 4.06% of the company’s stock.

Institutional Trading of Travere Therapeutics

Hedge funds have recently made changes to their positions in the company. Signaturefd LLC raised its stake in shares of Travere Therapeutics by 1,656.4% during the fourth quarter. Signaturefd LLC now owns 3,021 shares of the company’s stock valued at $27,000 after purchasing an additional 2,849 shares during the period. US Bancorp DE grew its position in shares of Travere Therapeutics by 1,372.3% during the first quarter. US Bancorp DE now owns 1,487 shares of the company’s stock worth $38,000 after buying an additional 1,386 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Travere Therapeutics by 968.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,650 shares of the company’s stock worth $51,000 after buying an additional 5,121 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Travere Therapeutics by 31.0% during the third quarter. Tower Research Capital LLC TRC now owns 7,929 shares of the company’s stock worth $71,000 after buying an additional 1,876 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Travere Therapeutics by 353.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,690 shares of the company’s stock worth $78,000 after buying an additional 6,773 shares in the last quarter.

Travere Therapeutics Company Profile

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.