Guggenheim Reaffirms “Neutral” Rating for Travere Therapeutics (NASDAQ:TVTX)

Guggenheim reaffirmed their neutral rating on shares of Travere Therapeutics (NASDAQ:TVTXFree Report) in a report issued on Wednesday morning, MarketBeat reports.

Several other analysts have also weighed in on TVTX. Stifel Nicolaus lifted their price objective on shares of Travere Therapeutics from $8.00 to $10.00 and gave the company a hold rating in a research note on Monday, December 18th. HC Wainwright reiterated a buy rating and issued a $17.00 price objective on shares of Travere Therapeutics in a research note on Wednesday, March 13th. Citigroup upgraded shares of Travere Therapeutics from a neutral rating to a buy rating and lifted their price objective for the company from $7.00 to $10.00 in a research note on Tuesday, December 5th. Wells Fargo & Company lifted their price objective on shares of Travere Therapeutics from $8.00 to $9.00 and gave the company an equal weight rating in a research note on Friday, February 16th. Finally, Piper Sandler boosted their price target 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 MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $17.85.

Check Out Our Latest Stock Analysis on Travere Therapeutics

Travere Therapeutics Stock Up 1.3 %

Travere Therapeutics stock opened at $7.67 on Wednesday. The firm has a 50 day moving average price of $8.26 and a two-hundred day moving average price of $8.21. The firm has a market cap of $583.67 million, a price-to-earnings ratio of -4.76 and a beta of 0.58. The company has a debt-to-equity ratio of 1.88, a quick ratio of 3.41 and a current ratio of 3.47. Travere Therapeutics has a 52-week low of $5.25 and a 52-week high of $23.17.

Travere Therapeutics (NASDAQ:TVTXGet Free Report) last released its quarterly earnings data on Thursday, February 15th. The company reported ($1.16) earnings per share for the quarter, beating the consensus estimate of ($1.27) by $0.11. The company had revenue of $45.06 million during the quarter, compared to analyst estimates 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.

Insiders Place Their Bets

In other Travere Therapeutics news, SVP William E. Rote sold 4,764 shares of Travere Therapeutics stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $8.71, for a total transaction of $41,494.44. Following 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Eric M. Dube sold 19,122 shares of the business’s 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 transaction, the chief executive officer now directly owns 350,600 shares of the company’s stock, valued at approximately $3,050,220. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP William E. Rote sold 4,764 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $8.71, for a total transaction of $41,494.44. Following the completion of the transaction, the senior vice president now directly owns 80,720 shares in the company, valued at $703,071.20. The disclosure for this sale can be found here. Insiders have sold 50,045 shares of company stock valued at $439,024 in the last three months. 4.71% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Travere Therapeutics in the 4th quarter worth about $5,711,000. Vanguard Group Inc. boosted its holdings in shares of Travere Therapeutics by 18.2% in the 4th quarter. Vanguard Group Inc. now owns 5,515,143 shares of the company’s stock worth $49,581,000 after buying an additional 847,685 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Travere Therapeutics in the 4th quarter worth about $1,277,000. Virtu Financial LLC bought a new stake in Travere Therapeutics in the 4th quarter valued at about $175,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Travere Therapeutics by 4.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 28,061 shares of the company’s stock valued at $253,000 after acquiring an additional 1,229 shares during the period.

About Travere Therapeutics

(Get Free Report)

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.

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