Wedbush Reaffirms Outperform Rating for Travere Therapeutics (NASDAQ:TVTX)

Wedbush reiterated their outperform rating on shares of Travere Therapeutics (NASDAQ:TVTX) in a report published on Wednesday morning, Benzinga reports. Wedbush currently has a $13.00 price target on the stock.

Several other equities research analysts also recently issued reports on the stock. Piper Sandler raised their price objective on shares of Travere Therapeutics from $10.00 to $11.00 and gave the stock a neutral rating in a research note on Thursday, January 18th. Guggenheim restated a neutral rating on shares of Travere Therapeutics in a research note on Wednesday, March 27th. HC Wainwright restated a buy rating and issued a $17.00 price objective on shares of Travere Therapeutics in a research note on Wednesday, March 13th. Finally, Wells Fargo & Company raised their target price on Travere Therapeutics from $8.00 to $9.00 and gave the stock an equal weight rating in a research report on Friday, February 16th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $17.85.

Travere Therapeutics Trading Down 1.4 %

Shares of TVTX stock opened at $5.72 on Wednesday. Travere Therapeutics has a 12 month low of $5.25 and a 12 month high of $22.75. The company has a quick ratio of 3.41, a current ratio of 3.47 and a debt-to-equity ratio of 1.88. The business’s 50 day moving average is $7.57 and its two-hundred day moving average is $7.73. The company has a market cap of $435.35 million, a PE ratio of -3.55 and a beta of 0.58.

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

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 19,122 shares of Travere Therapeutics stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $8.70, for a total transaction of $166,361.40. Following the completion of the transaction, the chief executive officer now directly owns 350,600 shares of the company’s stock, valued at $3,050,220. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP William E. Rote sold 4,764 shares of Travere Therapeutics stock in a transaction dated Thursday, February 1st. The stock was 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 $703,071.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric M. Dube sold 19,122 shares of Travere Therapeutics stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $8.70, for a total value of $166,361.40. Following the completion of the transaction, the chief executive officer now directly owns 350,600 shares of the company’s stock, valued at $3,050,220. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,030 shares of company stock valued at $419,773. 3.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its holdings in shares of Travere Therapeutics by 7.4% in the second quarter. Envestnet Asset Management Inc. now owns 10,695 shares of the company’s stock valued at $164,000 after buying an additional 734 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Travere Therapeutics by 4.4% in the second quarter. Legal & General Group Plc now owns 22,601 shares of the company’s stock valued at $548,000 after buying an additional 957 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Travere Therapeutics by 21.7% in the second quarter. Ameritas Investment Partners Inc. now owns 6,016 shares of the company’s stock valued at $92,000 after buying an additional 1,074 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Travere Therapeutics by 4.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 28,061 shares of the company’s stock valued at $253,000 after buying an additional 1,229 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of Travere Therapeutics by 1,372.3% in the first quarter. US Bancorp DE now owns 1,487 shares of the company’s stock valued at $38,000 after buying an additional 1,386 shares during 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.