HC Wainwright Boosts Travere Therapeutics (NASDAQ:TVTX) Price Target to $19.00

Travere Therapeutics (NASDAQ:TVTX) had its price target lifted by HC Wainwright from $17.00 to $19.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 248.62% from the company’s previous close.

Several other analysts have also recently weighed in on TVTX. Wedbush restated an “outperform” rating and set a $13.00 price target on shares of Travere Therapeutics in a report on Wednesday, April 17th. Guggenheim restated a “neutral” rating on shares of Travere Therapeutics in a report on Wednesday, March 27th. Wells Fargo & Company upped their price target on Travere Therapeutics from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Friday, February 16th. Finally, Piper Sandler upped their price objective on Travere Therapeutics from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Travere Therapeutics Stock Down 5.1 %

Shares of NASDAQ:TVTX traded down $0.29 during trading on Wednesday, hitting $5.45. 532,510 shares of the company’s stock traded hands, compared to its average volume of 1,237,373. The company has a current ratio of 3.47, a quick ratio of 3.41 and a debt-to-equity ratio of 1.88. Travere Therapeutics has a 52 week low of $5.25 and a 52 week high of $22.75. The company has a market cap of $414.80 million, a price-to-earnings ratio of -3.36 and a beta of 0.58. The company has a 50-day moving average price of $7.46 and a 200-day moving average price of $7.69.

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

Insider Activity

In related news, CFO Christopher R. Cline sold 3,818 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $8.53, for a total value of $32,567.54. Following the transaction, the chief financial officer now directly 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 hyperlink. In related news, CFO Christopher R. Cline sold 3,818 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $8.53, for a total transaction of $32,567.54. Following the completion of the transaction, 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 at the SEC website. Also, insider Peter Heerma sold 4,195 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $8.53, for a total transaction of $35,783.35. Following the completion of the sale, the insider now owns 99,503 shares in the company, valued at $848,760.59. The disclosure for this sale can be found here. Insiders have sold 34,773 shares of company stock worth $300,625 in the last ninety days. Company insiders own 4.06% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of TVTX. Teacher Retirement System of Texas grew its stake in shares of Travere Therapeutics by 9.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 18,804 shares of the company’s stock valued at $168,000 after buying an additional 1,641 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Travere Therapeutics by 9.7% during the 4th quarter. Arizona State Retirement System now owns 20,969 shares of the company’s stock valued at $189,000 after acquiring an additional 1,851 shares in the last quarter. Signaturefd LLC raised 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 worth $27,000 after buying an additional 2,849 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Travere Therapeutics by 7.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,424 shares of the company’s stock worth $417,000 after purchasing an additional 3,083 shares in the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in Travere Therapeutics by 4.5% in the first quarter. Rice Hall James & Associates LLC now owns 73,400 shares of the company’s stock worth $566,000 after purchasing an additional 3,140 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.