Travere Therapeutics (NASDAQ:TVTX) Receives “Outperform” Rating from Wedbush

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

TVTX has been the subject of several other reports. Piper Sandler upped their price objective on Travere Therapeutics from $10.00 to $11.00 and gave the stock a neutral rating in a research report on Thursday, January 18th. HC Wainwright restated a buy rating and set a $17.00 price objective on shares of Travere Therapeutics in a research report on Wednesday, March 13th. Wells Fargo & Company upped their price objective on Travere Therapeutics from $8.00 to $9.00 and gave the stock an equal weight rating in a research report on Friday, February 16th. Finally, Guggenheim restated a neutral rating on shares of Travere Therapeutics in a research report on Wednesday, March 27th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $17.85.

Travere Therapeutics Stock Performance

TVTX opened at $5.72 on Wednesday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 3.41 and a current ratio of 3.47. Travere Therapeutics has a 52-week low of $5.25 and a 52-week high of $22.75. The firm has a market cap of $435.35 million, a P/E ratio of -3.55 and a beta of 0.58. The business’s fifty day moving average is $7.57 and its 200-day moving average is $7.73.

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

Insider Buying and Selling at Travere Therapeutics

In other news, CEO Eric M. Dube sold 7,873 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $8.96, for a total transaction of $70,542.08. Following the completion of the transaction, the chief executive officer now directly owns 234,722 shares in the company, valued at $2,103,109.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Peter Heerma sold 4,195 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $8.53, for a total transaction of $35,783.35. Following the completion of the transaction, the insider now directly owns 99,503 shares in the company, valued at $848,760.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric M. Dube sold 7,873 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $8.96, for a total value of $70,542.08. Following the transaction, the chief executive officer now owns 234,722 shares of the company’s stock, valued at $2,103,109.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,030 shares of company stock worth $419,773. 3.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. raised its position in shares of Travere Therapeutics by 14.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 40,790 shares of the company’s stock worth $314,000 after acquiring an additional 5,123 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Travere Therapeutics during the first quarter worth approximately $720,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Travere Therapeutics during the fourth quarter worth approximately $5,711,000. Vanguard Group Inc. grew its stake in Travere Therapeutics by 18.2% during the fourth quarter. Vanguard Group Inc. now owns 5,515,143 shares of the company’s stock worth $49,581,000 after purchasing an additional 847,685 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in Travere Therapeutics during the fourth quarter worth approximately $1,277,000.

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.