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

Travere Therapeutics (NASDAQ:TVTX)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $47.00 target price on the stock. HC Wainwright’s target price indicates a potential upside of 88.00% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Wedbush raised their price objective on Travere Therapeutics from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Scotiabank reaffirmed an “outperform” rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. Wall Street Zen raised Travere Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday, September 1st. Finally, Citigroup reissued a “buy” rating on shares of Travere Therapeutics in a report on Sunday, August 10th. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.07.

Travere Therapeutics Price Performance

Shares of TVTX stock opened at $25.00 on Wednesday. Travere Therapeutics has a 1-year low of $11.89 and a 1-year high of $28.69. The stock’s 50-day moving average is $17.55 and its 200 day moving average is $17.38. The company has a market cap of $2.23 billion, a P/E ratio of -12.25 and a beta of 0.79. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.14. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The company had revenue of $94.84 million for the quarter, compared to the consensus estimate of $100.18 million. During the same quarter last year, the company earned ($0.65) earnings per share. The firm’s revenue for the quarter was up 111.5% compared to the same quarter last year. Research analysts predict that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Prudential Financial Inc. lifted its holdings in shares of Travere Therapeutics by 0.3% during the second quarter. Prudential Financial Inc. now owns 244,256 shares of the company’s stock worth $3,615,000 after purchasing an additional 615 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Travere Therapeutics by 3.5% during the second quarter. Teacher Retirement System of Texas now owns 22,688 shares of the company’s stock worth $336,000 after purchasing an additional 773 shares during the period. Arizona State Retirement System lifted its holdings in shares of Travere Therapeutics by 4.3% during the first quarter. Arizona State Retirement System now owns 23,364 shares of the company’s stock worth $419,000 after purchasing an additional 968 shares during the period. E Fund Management Co. Ltd. lifted its holdings in shares of Travere Therapeutics by 8.6% during the first quarter. E Fund Management Co. Ltd. now owns 13,553 shares of the company’s stock worth $243,000 after purchasing an additional 1,072 shares during the period. Finally, Sio Capital Management LLC lifted its holdings in shares of Travere Therapeutics by 1.0% during the second quarter. Sio Capital Management LLC now owns 122,210 shares of the company’s stock worth $1,809,000 after purchasing an additional 1,210 shares during the period.

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.