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

Guggenheim reiterated their neutral rating on shares of Travere Therapeutics (NASDAQ:TVTX) in a research report released on Wednesday morning, MarketBeat Ratings reports.

A number of other research analysts have also issued reports on the company. Wedbush reaffirmed an outperform rating and set a $13.00 target price on shares of Travere Therapeutics in a report on Friday, February 16th. HC Wainwright reaffirmed a buy rating and set a $17.00 target price on shares of Travere Therapeutics in a report on Wednesday, March 13th. Citigroup raised Travere Therapeutics from a neutral rating to a buy rating and lifted their target price for the stock from $7.00 to $10.00 in a report on Tuesday, December 5th. Stifel Nicolaus lifted their target price on Travere Therapeutics from $8.00 to $10.00 and gave the stock a hold rating in a report on Monday, December 18th. Finally, Piper Sandler lifted their target price on Travere Therapeutics from $10.00 to $11.00 and gave the stock a neutral rating in a report on Thursday, January 18th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $17.85.

Travere Therapeutics Price Performance

Shares of NASDAQ TVTX opened at $7.71 on Wednesday. Travere Therapeutics has a fifty-two week low of $5.25 and a fifty-two week high of $23.17. The firm’s 50-day simple moving average is $8.22 and its 200 day simple moving average is $8.16. The company has a quick ratio of 3.41, a current ratio of 3.47 and a debt-to-equity ratio of 1.88. The stock has a market cap of $586.73 million, a P/E ratio of -4.79 and a beta of 0.58.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($1.16) earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $41.25 million. Equities analysts expect that Travere Therapeutics will post -3.1 EPS for the current year.

Insider Buying and Selling

In related news, CEO Eric M. Dube sold 7,873 shares of Travere Therapeutics stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $8.96, for a total value of $70,542.08. Following the transaction, the chief executive officer now owns 234,722 shares of the company’s stock, valued at approximately $2,103,109.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Eric M. Dube sold 7,873 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $8.96, for a total value of $70,542.08. Following the transaction, the chief executive officer now owns 234,722 shares in the company, valued at approximately $2,103,109.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William E. Rote sold 4,764 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $8.71, for a total value of $41,494.44. Following the completion of the transaction, the senior vice president now owns 80,720 shares in the company, valued at approximately $703,071.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,045 shares of company stock valued at $439,024. 3.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Travere Therapeutics

Large investors have recently made changes to their positions in the business. US Bancorp DE increased its holdings in shares of Travere Therapeutics by 1,372.3% in the 1st quarter. US Bancorp DE now owns 1,487 shares of the company’s stock valued at $38,000 after purchasing an additional 1,386 shares during the period. Huntington National Bank increased its holdings in shares of Travere Therapeutics by 57.8% in the 2nd quarter. Huntington National Bank now owns 1,943 shares of the company’s stock valued at $30,000 after purchasing an additional 712 shares during the period. Signaturefd LLC increased its holdings in shares of Travere Therapeutics by 1,656.4% in the 4th 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. Point72 Hong Kong Ltd increased its holdings in Travere Therapeutics by 2,540.3% in the first quarter. Point72 Hong Kong Ltd now owns 5,439 shares of the company’s stock worth $140,000 after buying an additional 5,233 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Travere Therapeutics by 968.1% in 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 during the last quarter.

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.