Wedbush Reiterates “Outperform” Rating for Travere Therapeutics (NASDAQ:TVTX)

Travere Therapeutics (NASDAQ:TVTX)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $30.00 target price on the stock. Wedbush’s price objective would suggest a potential upside of 41.84% from the company’s current price.

A number of other equities research analysts have also commented on TVTX. Cantor Fitzgerald reissued an “overweight” rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. Canaccord Genuity Group increased their target price on shares of Travere Therapeutics from $45.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, April 10th. Evercore ISI boosted their price target on shares of Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Stifel Nicolaus lifted their target price on shares of Travere Therapeutics from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday. Finally, HC Wainwright boosted their target price on Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Travere Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.79.

Travere Therapeutics Stock Up 1.9 %

Shares of NASDAQ TVTX opened at $21.15 on Friday. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. Travere Therapeutics has a 1 year low of $6.01 and a 1 year high of $25.29. The stock has a market capitalization of $1.88 billion, a P/E ratio of -5.16 and a beta of 0.84. The company has a 50-day moving average price of $18.08 and a 200-day moving average price of $18.74.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.08. The firm had revenue of $81.73 million during the quarter, compared to analyst estimates of $77.44 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The company’s revenue for the quarter was up 83.3% on a year-over-year basis. During the same period in the previous year, the company posted ($1.76) EPS. On average, equities research analysts forecast that Travere Therapeutics will post -1.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Eric M. Dube sold 11,375 shares of Travere Therapeutics stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $24.04, for a total value of $273,455.00. Following the completion of the transaction, the chief executive officer now owns 419,173 shares in the company, valued at $10,076,918.92. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William E. Rote sold 5,200 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $23.53, for a total transaction of $122,356.00. Following the completion of the transaction, the senior vice president now directly owns 98,519 shares of the company’s stock, valued at approximately $2,318,152.07. This trade represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,330 shares of company stock valued at $3,507,377 over the last ninety days. 4.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Travere Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Driehaus Capital Management LLC raised its holdings in shares of Travere Therapeutics by 608.1% during the 4th quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company’s stock valued at $38,637,000 after buying an additional 1,904,733 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Travere Therapeutics in the 4th quarter worth approximately $21,075,000. RA Capital Management L.P. purchased a new stake in shares of Travere Therapeutics in the 4th quarter valued at $20,033,000. Jennison Associates LLC purchased a new position in Travere Therapeutics in the 4th quarter worth $14,222,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Travere Therapeutics by 36.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company’s stock worth $37,875,000 after purchasing an additional 583,836 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.