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

Travere Therapeutics (NASDAQ:TVTX) had its target price hoisted by equities research analysts at HC Wainwright from $17.00 to $19.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 248.62% from the stock’s previous close.

A number of other research firms have also recently commented on TVTX. Wells Fargo & Company raised their target price on Travere Therapeutics from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Friday, February 16th. Wedbush reissued an “outperform” rating and issued a $13.00 price target on shares of Travere Therapeutics in a research report on Wednesday, April 17th. Guggenheim reaffirmed a “neutral” rating on shares of Travere Therapeutics in a research report on Wednesday, March 27th. Finally, Piper Sandler upped their price objective on shares of Travere Therapeutics from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $18.00.

Travere Therapeutics Stock Down 5.1 %

Shares of TVTX stock traded down $0.29 during trading hours on Wednesday, reaching $5.45. 532,510 shares of the company’s stock were exchanged, 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 1 year low of $5.25 and a 1 year high of $22.75. The stock has a market cap of $414.80 million, a PE ratio of -3.36 and a beta of 0.58. The stock’s fifty day moving average price is $7.46 and its two-hundred day moving average price is $7.69.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($1.16) EPS for the quarter, beating the consensus estimate of ($1.27) by $0.11. The business had revenue of $45.06 million during the quarter, compared to analysts’ expectations of $41.25 million. Travere Therapeutics had a negative net margin of 56.02% and a negative return on equity of 177.97%. Research analysts predict that Travere Therapeutics will post -3.1 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Christopher R. Cline sold 3,818 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $604,802.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Travere Therapeutics news, SVP William E. Rote sold 4,764 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $8.71, for a total value of $41,494.44. Following the completion of the transaction, the senior vice president now directly owns 80,720 shares of the company’s stock, valued at approximately $703,071.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Christopher R. Cline sold 3,818 shares of Travere Therapeutics stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $8.53, for a total value of $32,567.54. Following the sale, the chief financial officer now directly owns 70,903 shares in the company, valued at $604,802.59. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,773 shares of company stock valued at $300,625. Insiders own 4.06% of the company’s stock.

Institutional Trading of Travere Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Travere Therapeutics by 10.9% during the third quarter. Vanguard Group Inc. now owns 4,667,458 shares of the company’s stock valued at $41,727,000 after buying an additional 460,176 shares during the last quarter. Jump Financial LLC boosted its position in Travere Therapeutics by 232.3% during the 3rd quarter. Jump Financial LLC now owns 188,925 shares of the company’s stock worth $1,689,000 after acquiring an additional 132,067 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in Travere Therapeutics by 71.4% in the third quarter. Schonfeld Strategic Advisors LLC now owns 524,000 shares of the company’s stock worth $4,685,000 after purchasing an additional 218,371 shares during the period. Jacobs Levy Equity Management Inc. grew its position in Travere Therapeutics by 9.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,671,770 shares of the company’s stock valued at $14,946,000 after buying an additional 146,970 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Travere Therapeutics during the 3rd quarter valued at about $1,179,000.

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.