Guggenheim Reaffirms “Neutral” Rating for Travere Therapeutics (NASDAQ:TVTX)

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

A number of other equities analysts also recently commented on the stock. Piper Sandler lifted their target price 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. Stifel Nicolaus lifted their target price on shares of Travere Therapeutics from $8.00 to $10.00 and gave the stock a hold rating in a research note on Monday, December 18th. HC Wainwright reaffirmed a buy rating and set a $17.00 target price on shares of Travere Therapeutics in a research note on Wednesday, March 13th. Wells Fargo & Company lifted their target price 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. Finally, Citigroup upgraded shares of Travere Therapeutics from a neutral rating to a buy rating and lifted their price target for the company from $7.00 to $10.00 in a research report on Tuesday, December 5th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $17.85.

Travere Therapeutics Stock Performance

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

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

Insider Activity at Travere Therapeutics

In related news, CEO Eric M. Dube sold 19,122 shares of Travere Therapeutics stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $8.70, for a total value of $166,361.40. Following the completion of the transaction, the chief executive officer now owns 350,600 shares in the company, valued at $3,050,220. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Travere Therapeutics news, CEO Eric M. Dube sold 7,873 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $8.96, for a total transaction of $70,542.08. Following the completion of the transaction, the chief executive officer now owns 234,722 shares in the company, valued at approximately $2,103,109.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric M. Dube sold 19,122 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $8.70, for a total transaction of $166,361.40. Following the transaction, the chief executive officer now owns 350,600 shares of the company’s stock, valued at approximately $3,050,220. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,045 shares of company stock worth $439,024. Corporate insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank grew its holdings in Travere Therapeutics by 57.8% during the 2nd quarter. Huntington National Bank now owns 1,943 shares of the company’s stock worth $30,000 after acquiring an additional 712 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Travere Therapeutics by 7.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 10,695 shares of the company’s stock worth $164,000 after acquiring an additional 734 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Travere Therapeutics by 0.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 96,742 shares of the company’s stock worth $1,486,000 after acquiring an additional 781 shares in the last quarter. Legal & General Group Plc grew its holdings in Travere Therapeutics by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 22,601 shares of the company’s stock worth $548,000 after acquiring an additional 957 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in Travere Therapeutics by 21.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,016 shares of the company’s stock worth $92,000 after acquiring an additional 1,074 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.