HC Wainwright Boosts Travere Therapeutics (NASDAQ:TVTX) Price Target to $23.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective increased by HC Wainwright from $20.00 to $23.00 in a research report released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

TVTX has been the topic of a number of other reports. Piper Sandler lifted their price objective on shares of Travere Therapeutics from $11.00 to $12.00 and gave the company a neutral rating in a research note on Friday, August 2nd. Wedbush boosted their price target on shares of Travere Therapeutics from $13.00 to $16.00 and gave the stock an outperform rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on shares of Travere Therapeutics from $19.00 to $20.00 and gave the stock an overweight rating in a research report on Tuesday, August 13th. Finally, Barclays boosted their price target on shares of Travere Therapeutics from $12.00 to $14.00 and gave the stock an overweight rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of Moderate Buy and a consensus price target of $16.92.

Travere Therapeutics Price Performance

Shares of NASDAQ TVTX opened at $12.86 on Friday. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $14.62. The firm’s 50-day simple moving average is $9.30 and its 200 day simple moving average is $7.86. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96. The stock has a market cap of $979.02 million, a P/E ratio of -6.12 and a beta of 0.71.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. The company had revenue of $54.12 million for the quarter, compared to the consensus estimate of $49.50 million. Equities analysts expect that Travere Therapeutics will post -3.96 EPS for the current year.

Insiders Place Their Bets

In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $243,360.00. Following the sale, the chief executive officer now owns 361,975 shares in the company, valued at approximately $4,169,952. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Travere Therapeutics news, insider Jula Inrig sold 2,191 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $25,240.32. Following the sale, the insider now owns 62,633 shares in the company, valued at approximately $721,532.16. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Eric M. Dube sold 21,125 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $243,360.00. Following the completion of the transaction, the chief executive officer now owns 361,975 shares in the company, valued at approximately $4,169,952. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,707 shares of company stock worth $352,712. Company insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

A number of large investors have recently made changes to their positions in TVTX. Russell Investments Group Ltd. increased its holdings in shares of Travere Therapeutics by 5.6% in the 4th quarter. Russell Investments Group Ltd. now owns 103,012 shares of the company’s stock valued at $926,000 after purchasing an additional 5,499 shares during the period. E Fund Management Co. Ltd. increased its holdings in shares of Travere Therapeutics by 23.2% in the 4th quarter. E Fund Management Co. Ltd. now owns 22,910 shares of the company’s stock valued at $206,000 after purchasing an additional 4,314 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Travere Therapeutics in the fourth quarter worth approximately $137,000. Crestline Management LP increased its holdings in Travere Therapeutics by 32.6% in the fourth quarter. Crestline Management LP now owns 81,423 shares of the company’s stock worth $732,000 after buying an additional 20,002 shares during the last quarter. Finally, Finepoint Capital LP increased its holdings in Travere Therapeutics by 60.2% in the fourth quarter. Finepoint Capital LP now owns 1,435,321 shares of the company’s stock worth $12,904,000 after buying an additional 539,500 shares during the last quarter.

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.