Travere Therapeutics (NASDAQ:TVTX) Earns Outperform Rating from Wedbush

Travere Therapeutics (NASDAQ:TVTX)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a report issued on Friday,Benzinga reports. They currently have a $30.00 price objective on the stock. Wedbush’s price target would indicate a potential upside of 78.57% from the company’s current price.

TVTX has been the subject of a number of other reports. Scotiabank restated an “outperform” rating on shares of Travere Therapeutics in a research note on Friday, April 11th. Stifel Nicolaus lifted their price target on Travere Therapeutics from $22.00 to $23.00 and gave the company a “hold” rating in a report on Friday, May 2nd. Citigroup raised their target price on Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, February 24th. JPMorgan Chase & Co. increased their price target on Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, Evercore ISI upped their price objective 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. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.79.

Travere Therapeutics Stock Performance

TVTX stock opened at $16.80 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a 12-month low of $6.01 and a 12-month high of $25.29. The stock’s 50 day simple moving average is $18.25 and its 200 day simple moving average is $18.91. The firm has a market cap of $1.49 billion, a P/E ratio of -4.10 and a beta of 0.88.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.08. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The business had revenue of $81.73 million during the quarter, compared to the consensus estimate of $77.44 million. During the same quarter in the prior year, the firm earned ($1.76) EPS. The company’s revenue for the quarter was up 83.3% compared to the same quarter last year. As a group, equities research analysts predict that Travere Therapeutics will post -1.4 EPS for the current year.

Insider Buying and Selling at Travere Therapeutics

In related news, CFO Christopher R. Cline sold 1,784 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $37,553.20. Following the completion of the transaction, the chief financial officer now owns 93,126 shares of the company’s stock, valued at approximately $1,960,302.30. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eric M. Dube sold 18,924 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $398,350.20. Following the sale, the chief executive officer now directly owns 419,173 shares in the company, valued at approximately $8,823,591.65. This trade represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,527 shares of company stock valued at $473,814. Corporate insiders own 4.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. R Squared Ltd acquired a new position in shares of Travere Therapeutics in the 4th quarter valued at about $53,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Travere Therapeutics during the 4th quarter worth about $192,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Travere Therapeutics by 23.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,206 shares of the company’s stock valued at $317,000 after buying an additional 3,494 shares in the last quarter. Jennison Associates LLC bought a new position in Travere Therapeutics during the fourth quarter valued at approximately $14,222,000. Finally, abrdn plc bought a new stake in Travere Therapeutics in the fourth quarter worth approximately $6,829,000.

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.