Travere Therapeutics’ (TVTX) Outperform Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Travere Therapeutics (NASDAQ:TVTX) in a research note published on Friday morning,Benzinga reports. The firm currently has a $30.00 price target on the stock.

A number of other equities analysts have also recently issued reports on TVTX. Citigroup increased their price objective on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Stifel Nicolaus increased their price objective on shares of Travere Therapeutics from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. increased their target price on shares of Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Evercore ISI increased their target price on shares of Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Canaccord Genuity Group increased their target price on shares of Travere Therapeutics from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.79.

Travere Therapeutics Trading Down 20.6%

Shares of TVTX stock opened at $16.80 on Friday. Travere Therapeutics has a 52-week low of $6.01 and a 52-week high of $25.29. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -4.10 and a beta of 0.88. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The firm has a fifty day moving average of $18.25 and a 200-day moving average of $18.90.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.08. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The company had revenue of $81.73 million during the quarter, compared to analysts’ expectations of $77.44 million. During the same quarter in the prior year, the company posted ($1.76) EPS. The business’s revenue was up 83.3% on a year-over-year basis. On average, equities research analysts forecast that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, CFO Christopher R. Cline sold 1,784 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $37,553.20. Following the completion of the sale, the chief financial officer now owns 93,126 shares in the company, valued at approximately $1,960,302.30. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric M. Dube sold 18,924 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $398,350.20. Following the completion of the transaction, the chief executive officer now directly owns 419,173 shares in the company, valued at $8,823,591.65. This trade represents a 4.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,527 shares of company stock worth $473,814. 4.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Armistice Capital LLC boosted its stake in shares of Travere Therapeutics by 20.6% in the 1st quarter. Armistice Capital LLC now owns 8,872,000 shares of the company’s stock valued at $158,986,000 after purchasing an additional 1,514,000 shares during the last quarter. Rock Springs Capital Management LP boosted its stake in shares of Travere Therapeutics by 6.2% in the 4th quarter. Rock Springs Capital Management LP now owns 4,973,649 shares of the company’s stock valued at $86,641,000 after purchasing an additional 289,173 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Travere Therapeutics by 24.8% in the 1st quarter. Driehaus Capital Management LLC now owns 2,767,693 shares of the company’s stock valued at $49,597,000 after purchasing an additional 549,718 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Travere Therapeutics by 28.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company’s stock valued at $41,974,000 after purchasing an additional 534,500 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Travere Therapeutics by 479.9% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,184,898 shares of the company’s stock valued at $39,153,000 after purchasing an additional 1,808,098 shares during 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.