Travere Therapeutics’ (TVTX) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Travere Therapeutics (NASDAQ:TVTX) in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a $67.00 price objective on the stock.

A number of other analysts also recently commented on the company. Canaccord Genuity Group upped their target price on Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Guggenheim lifted their price target on Travere Therapeutics from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Friday, September 18th. Wedbush upped their price objective on Travere Therapeutics from $61.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, Evercore set a $78.00 price objective on shares of Travere Therapeutics in a research note on Monday, August 10th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Travere Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $69.50.

Travere Therapeutics Trading Up 1.3%

Shares of Travere Therapeutics stock opened at $60.62 on Tuesday. The stock has a market cap of $5.71 billion, a PE ratio of -131.78 and a beta of 1.05. The firm has a fifty day moving average price of $62.12 and a 200 day moving average price of $49.67. Travere Therapeutics has a 1 year low of $22.06 and a 1 year high of $68.73. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.99.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.03. The company had revenue of $169.58 million for the quarter, compared to the consensus estimate of $157.27 million. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.The firm’s revenue for the quarter was up 48.2% compared to the same quarter last year. During the same period last year, the firm earned $0.13 EPS. Equities research analysts predict that Travere Therapeutics will post -0.54 earnings per share for the current year.

Insider Buying and Selling

In other Travere Therapeutics news, CFO Christopher R. Cline sold 50,508 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $62.34, for a total value of $3,148,668.72. Following the sale, the chief financial officer directly owned 87,508 shares of the company’s stock, valued at approximately $5,455,248.72. This trade represents a 36.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric M. Dube sold 195,841 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $63.45, for a total value of $12,426,111.45. Following the completion of the sale, the chief executive officer owned 432,886 shares of the company’s stock, valued at $27,466,616.70. This trade represents a 31.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,050,294 shares of company stock worth $66,336,443 in the last ninety days. 4.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in Travere Therapeutics by 53.4% in the 2nd quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after purchasing an additional 211 shares during the last quarter. Corient Private Wealth LP increased its holdings in shares of Travere Therapeutics by 1.4% during the 2nd quarter. Corient Private Wealth LP now owns 48,125 shares of the company’s stock worth $2,734,000 after buying an additional 648 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Travere Therapeutics by 4.1% during the 4th quarter. ProShare Advisors LLC now owns 19,007 shares of the company’s stock valued at $726,000 after buying an additional 756 shares during the period. Allworth Financial LP purchased a new stake in shares of Travere Therapeutics during the 2nd quarter valued at approximately $47,000. Finally, Swiss National Bank lifted its holdings in Travere Therapeutics by 0.6% in the first quarter. Swiss National Bank now owns 168,100 shares of the company’s stock valued at $4,994,000 after acquiring an additional 1,000 shares during the last quarter.

About Travere Therapeutics

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare kidney and immune-mediated diseases. The company’s work is centered on conditions with significant unmet medical needs, including diseases that can lead to progressive kidney damage and kidney failure.

Travere’s principal commercial product is FILSPARI (sparsentan), an oral therapy for adults with primary immunoglobulin A nephropathy, or IgA nephropathy, who are at risk of disease progression.