HC Wainwright Reiterates “Buy” Rating for Travere Therapeutics (NASDAQ:TVTX)

Travere Therapeutics (NASDAQ:TVTX)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report issued on Tuesday, Benzinga reports. They currently have a $19.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 178.59% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. Piper Sandler raised their target price on Travere Therapeutics from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. Wedbush reissued an “outperform” rating and issued a $13.00 target price on shares of Travere Therapeutics in a report on Wednesday, April 17th. 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 report on Friday, February 16th. Canaccord Genuity Group raised their target price on Travere Therapeutics from $15.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Guggenheim reissued a “neutral” rating on shares of Travere Therapeutics in a report on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Travere Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $16.69.

Travere Therapeutics Price Performance

Shares of NASDAQ TVTX opened at $6.82 on Tuesday. The company has a debt-to-equity ratio of 1.88, a current ratio of 3.47 and a quick ratio of 3.41. The stock has a fifty day moving average price of $6.99 and a 200 day moving average price of $7.60. Travere Therapeutics has a 1-year low of $5.12 and a 1-year high of $19.54. The company has a market cap of $519.07 million, a PE ratio of -4.24 and a beta of 0.69.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Monday, May 6th. The company reported ($1.76) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.78). Travere Therapeutics had a negative return on equity of 177.97% and a negative net margin of 56.02%. The company had revenue of $41.40 million for the quarter, compared to analyst estimates of $43.46 million. During the same period in the prior year, the business earned ($1.27) earnings per share. Travere Therapeutics’s revenue for the quarter was up 34.0% compared to the same quarter last year. Sell-side analysts forecast that Travere Therapeutics will post -3.1 EPS for the current year.

Institutional Trading of Travere Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TVTX. Avidity Partners Management LP purchased a new stake in Travere Therapeutics during the 3rd quarter worth about $11,828,000. Kynam Capital Management LP increased its position in Travere Therapeutics by 105.6% during the 4th quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock worth $17,980,000 after purchasing an additional 1,027,398 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Travere Therapeutics during the 4th quarter worth about $5,711,000. Finepoint Capital LP increased its position in Travere Therapeutics by 60.2% during the 4th quarter. Finepoint Capital LP now owns 1,435,321 shares of the company’s stock worth $12,904,000 after purchasing an additional 539,500 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Travere Therapeutics by 10.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,667,458 shares of the company’s stock worth $41,727,000 after purchasing an additional 460,176 shares in the last quarter.

About Travere Therapeutics

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.