Travere Therapeutics (NASDAQ:TVTX) Upgraded at HC Wainwright

HC Wainwright upgraded shares of Travere Therapeutics (NASDAQ:TVTX) to a buy rating in a report published on Wednesday morning, MarketBeat.com reports. They currently have $30.00 target price on the stock.

Other equities research analysts have also recently issued research reports about the stock. Guggenheim reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Travere Therapeutics in a research note on Monday, April 14th. Scotiabank reiterated an “outperform” rating on shares of Travere Therapeutics in a research note on Friday, April 11th. Bank of America boosted their target price on Travere Therapeutics from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. Wedbush reiterated an “outperform” rating and issued a $30.00 price objective on shares of Travere Therapeutics in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Travere Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $32.14.

Travere Therapeutics Trading Down 2.9%

Shares of Travere Therapeutics stock opened at $14.50 on Wednesday. Travere Therapeutics has a 12-month low of $6.80 and a 12-month high of $25.29. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The stock has a fifty day simple moving average of $16.87 and a 200 day simple moving average of $18.53. The company has a market capitalization of $1.29 billion, a P/E ratio of -3.54 and a beta of 0.75.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.08. The firm had revenue of $81.73 million during the quarter, compared to the consensus estimate of $77.44 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The company’s revenue was up 83.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.76) EPS. On average, sell-side analysts anticipate that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Peter Heerma sold 1,771 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $37,279.55. Following the transaction, the insider now owns 128,215 shares of the company’s stock, valued at approximately $2,698,925.75. This represents a 1.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric M. Dube sold 18,924 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $398,350.20. Following the sale, 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. Insiders sold 22,527 shares of company stock valued at $473,814 over the last three months. 4.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new position in shares of Travere Therapeutics in the 4th quarter valued at $31,000. Sterling Capital Management LLC boosted its stake in Travere Therapeutics by 859.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock worth $41,000 after buying an additional 2,115 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Travere Therapeutics during the first quarter worth $62,000. Gen Wealth Partners Inc purchased a new position in Travere Therapeutics in the 4th quarter valued at approximately $73,000. Finally, KBC Group NV purchased a new position in shares of Travere Therapeutics in the 1st quarter valued at about $75,000.

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.