Travere Therapeutics (NASDAQ:TVTX) Stock Rating Reaffirmed by Wedbush

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 objective on the stock.

A number of other research analysts have also recently commented on the stock. Guggenheim reiterated a neutral rating on shares of Travere Therapeutics in a research report on Wednesday, March 27th. Wells Fargo & Company increased their price objective on Travere Therapeutics from $8.00 to $9.00 and gave the company an equal weight rating in a research note on Friday, February 16th. Piper Sandler increased their price objective on Travere Therapeutics from $10.00 to $11.00 and gave the company a neutral rating in a research note on Thursday, January 18th. Finally, HC Wainwright reissued a buy rating and set a $17.00 price objective on shares of Travere Therapeutics in a research note on Wednesday, March 13th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Travere Therapeutics presently has a consensus rating of Moderate Buy and an average price target of $17.85.

Travere Therapeutics Stock Down 2.6 %

Shares of NASDAQ TVTX opened at $5.99 on Wednesday. Travere Therapeutics has a one year low of $5.25 and a one year high of $22.75. The company has a current ratio of 3.47, a quick ratio of 3.41 and a debt-to-equity ratio of 1.88. The firm’s 50 day simple moving average is $7.67 and its two-hundred day simple moving average is $7.76.

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

Insider Buying and Selling

In related news, CFO Christopher R. Cline sold 3,818 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 70,903 shares of the company’s stock, valued at $604,802.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Travere Therapeutics news, CEO Eric M. Dube sold 7,873 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $8.96, for a total value of $70,542.08. Following the completion of the transaction, the chief executive officer now owns 234,722 shares in the company, valued at $2,103,109.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 completion of the transaction, the chief financial officer now owns 70,903 shares of the company’s stock, valued at approximately $604,802.59. The disclosure for this sale can be found here. Insiders sold 48,030 shares of company stock valued at $419,773 over the last quarter. 3.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Travere Therapeutics

A number of institutional investors have recently added to or reduced their stakes in TVTX. Signaturefd LLC raised its holdings in Travere Therapeutics by 1,656.4% in the fourth quarter. Signaturefd LLC now owns 3,021 shares of the company’s stock worth $27,000 after purchasing an additional 2,849 shares in the last quarter. US Bancorp DE raised its holdings in Travere Therapeutics by 1,372.3% in the first quarter. US Bancorp DE now owns 1,487 shares of the company’s stock worth $38,000 after purchasing an additional 1,386 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Travere Therapeutics by 968.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,650 shares of the company’s stock worth $51,000 after purchasing an additional 5,121 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Travere Therapeutics by 31.0% in the third quarter. Tower Research Capital LLC TRC now owns 7,929 shares of the company’s stock worth $71,000 after purchasing an additional 1,876 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Travere Therapeutics by 353.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,690 shares of the company’s stock worth $78,000 after purchasing an additional 6,773 shares in 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.