Travere Therapeutics’ (TVTX) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Travere Therapeutics (NASDAQ:TVTX) in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a $13.00 target price on the stock.

Several other equities analysts also recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Travere Therapeutics from $8.00 to $9.00 and gave the company an equal weight rating in a report on Friday, February 16th. Piper Sandler upped their price objective on shares of Travere Therapeutics from $10.00 to $11.00 and gave the company a neutral rating in a report on Thursday, January 18th. HC Wainwright reiterated a buy rating and issued a $17.00 price objective on shares of Travere Therapeutics in a report on Wednesday, March 13th. Finally, Guggenheim restated a neutral rating on shares of Travere Therapeutics in a research note on Wednesday, March 27th. Six equities research 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, the stock has a consensus rating of Moderate Buy and a consensus price target of $17.85.

Travere Therapeutics Price Performance

NASDAQ TVTX opened at $5.99 on Wednesday. The company has a quick ratio of 3.41, a current ratio of 3.47 and a debt-to-equity ratio of 1.88. The firm’s fifty day moving average price is $7.67 and its two-hundred day moving average price is $7.76. Travere Therapeutics has a 1 year low of $5.25 and a 1 year high of $22.75.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Thursday, February 15th. The company reported ($1.16) EPS for the quarter, beating the consensus estimate of ($1.27) by $0.11. Travere Therapeutics had a negative net margin of 56.02% and a negative return on equity of 177.97%. The firm had revenue of $45.06 million for the quarter, compared to the consensus estimate of $41.25 million. Equities research analysts expect that Travere Therapeutics will post -3.1 earnings per share for the current year.

Insiders Place Their Bets

In other Travere Therapeutics news, CFO Christopher R. Cline sold 3,818 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $8.53, for a total transaction of $32,567.54. Following the sale, the chief financial officer now directly owns 70,903 shares in the company, valued at $604,802.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Travere Therapeutics news, CEO Eric M. Dube sold 19,122 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $8.70, for a total transaction of $166,361.40. Following the sale, the chief executive officer now directly owns 350,600 shares in the company, valued at $3,050,220. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher R. Cline sold 3,818 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $8.53, for a total transaction of $32,567.54. Following the sale, the chief financial officer now owns 70,903 shares in the company, valued at $604,802.59. The disclosure for this sale can be found here. Insiders have sold 48,030 shares of company stock worth $419,773 over the last ninety days. Corporate insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Armistice Capital LLC lifted its holdings in shares of Travere Therapeutics by 0.7% in the third quarter. Armistice Capital LLC now owns 7,500,000 shares of the company’s stock worth $67,050,000 after acquiring an additional 50,000 shares during the last quarter. State Street Corp raised its holdings in Travere Therapeutics by 31.2% in the 2nd quarter. State Street Corp now owns 5,732,636 shares of the company’s stock valued at $88,053,000 after buying an additional 1,364,759 shares during the last quarter. Vanguard Group Inc. raised its holdings in Travere Therapeutics by 18.2% in the 4th quarter. Vanguard Group Inc. now owns 5,515,143 shares of the company’s stock valued at $49,581,000 after buying an additional 847,685 shares during the last quarter. Macquarie Group Ltd. raised its holdings in Travere Therapeutics by 2.5% in the 1st quarter. Macquarie Group Ltd. now owns 3,644,687 shares of the company’s stock valued at $81,969,000 after buying an additional 88,575 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Travere Therapeutics by 34.6% in the 1st quarter. Renaissance Technologies LLC now owns 2,144,822 shares of the company’s stock valued at $48,237,000 after buying an additional 551,300 shares during 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.