Travere Therapeutics (NASDAQ:TVTX) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Travere Therapeutics (NASDAQ:TVTX) in a research report released on Friday morning,Benzinga reports. The firm currently has a $47.00 target price on the stock.

A number of other research firms also recently weighed in on TVTX. Scotiabank reissued an “outperform” rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. Cowen reissued a “buy” rating on shares of Travere Therapeutics in a report on Friday, October 31st. Wedbush raised their target price on Travere Therapeutics from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus upped their price target on Travere Therapeutics from $20.00 to $25.00 and gave the company a “hold” rating in a research report on Friday, September 12th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $38.71.

Travere Therapeutics Trading Down 1.9%

NASDAQ TVTX opened at $35.58 on Friday. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of -17.44 and a beta of 0.90. Travere Therapeutics has a one year low of $12.91 and a one year high of $37.50. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98. The business’s fifty day moving average is $30.04 and its 200-day moving average is $21.64.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.59. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The company had revenue of $164.86 million during the quarter, compared to analyst estimates of $106.09 million. During the same quarter in the prior year, the business earned ($0.70) earnings per share. The firm’s revenue for the quarter was up 162.1% on a year-over-year basis. Equities research analysts predict that Travere Therapeutics will post -1.4 EPS for the current year.

Insider Activity

In other news, insider Elizabeth E. Reed sold 10,000 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $25.00, for a total transaction of $250,000.00. Following the completion of the transaction, the insider owned 89,878 shares of the company’s stock, valued at approximately $2,246,950. The trade was a 10.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric M. Dube sold 27,128 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $30.12, for a total transaction of $817,095.36. Following the completion of the sale, the chief executive officer directly owned 419,173 shares in the company, valued at $12,625,490.76. This represents a 6.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 223,941 shares of company stock worth $7,221,380. Company insiders own 4.19% of the company’s stock.

Institutional Trading of Travere Therapeutics

A number of hedge funds have recently made changes to their positions in TVTX. Raymond James Financial Inc. purchased a new position in Travere Therapeutics in the second quarter worth $33,000. First Horizon Corp bought a new stake in Travere Therapeutics during the third quarter worth about $36,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Travere Therapeutics in the 1st quarter worth about $62,000. Headlands Technologies LLC purchased a new position in shares of Travere Therapeutics in the 2nd quarter worth about $73,000. Finally, Atria Investments Inc bought a new position in shares of Travere Therapeutics during the 2nd quarter valued at about $154,000.

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.