Travere Therapeutics (NASDAQ:TVTX) Earns “Buy” Rating from HC Wainwright

Travere Therapeutics (NASDAQ:TVTX)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research report issued on Tuesday, Benzinga reports. They currently have a $67.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 6.59% from the stock’s previous close.

A number of other equities analysts have also issued reports on TVTX. Evercore set a $78.00 price target on shares of Travere Therapeutics in a research report on Monday, August 10th. Citigroup upped their price objective on shares of Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Canaccord Genuity Group increased their price objective on shares of Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wedbush raised their target price on shares of Travere Therapeutics from $61.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a report on Friday. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Travere Therapeutics Stock Up 0.2%

Travere Therapeutics stock opened at $62.86 on Tuesday. The business’s 50-day simple moving average is $61.89 and its two-hundred day simple moving average is $48.98. The company has a debt-to-equity ratio of 24.58, a quick ratio of 3.99 and a current ratio of 4.05. The company has a market cap of $5.93 billion, a PE ratio of -136.65 and a beta of 1.05. Travere Therapeutics has a fifty-two week low of $22.06 and a fifty-two week high of $68.73.

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

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, insider William Rote sold 112,850 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $63.33, for a total value of $7,146,790.50. Following the completion of the transaction, the insider directly owned 98,197 shares of the company’s stock, valued at approximately $6,218,816.01. The trade was a 53.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jula Inrig sold 44,674 shares of the company’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 $2,784,977.16. Following the completion of the sale, the executive vice president owned 100,491 shares in the company, valued at approximately $6,264,608.94. This represents a 30.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,050,294 shares of company stock valued at $66,336,443 in the last 90 days. 4.44% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. S&CO Inc. acquired a new stake in Travere Therapeutics in the second quarter valued at approximately $3,181,000. Artia Global Partners LP purchased a new stake in shares of Travere Therapeutics in the second quarter valued at approximately $19,260,000. Quantinno Capital Management LP raised its stake in shares of Travere Therapeutics by 354.4% during the 1st quarter. Quantinno Capital Management LP now owns 68,317 shares of the company’s stock worth $2,030,000 after buying an additional 53,283 shares during the period. Elmind Capital LP acquired a new position in shares of Travere Therapeutics during the 2nd quarter worth approximately $16,622,606. Finally, Jupiter Topco LLC acquired a new position in shares of Travere Therapeutics during the 2nd quarter worth approximately $643,299,000.

Travere Therapeutics Company Profile

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.