Wedbush Reiterates “Outperform” Rating for Travere Therapeutics (NASDAQ:TVTX)

Travere Therapeutics (NASDAQ:TVTX)‘s stock had its “outperform” rating restated by analysts at Wedbush in a report released on Wednesday, Benzinga reports. They presently have a $13.00 price target on the stock. Wedbush’s price objective would suggest a potential upside of 124.14% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Guggenheim reaffirmed a “neutral” rating on shares of Travere Therapeutics in a research note on Wednesday, March 27th. Piper Sandler raised their price objective on Travere Therapeutics from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. HC Wainwright reissued a “buy” rating and issued a $17.00 price target on shares of Travere Therapeutics in a research note on Wednesday, March 13th. Finally, Wells Fargo & Company lifted their price target on Travere Therapeutics from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Friday, February 16th. Six 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 presently has an average rating of “Moderate Buy” and an average target price of $17.85.

Travere Therapeutics Stock Down 3.2 %

NASDAQ:TVTX opened at $5.80 on Wednesday. Travere Therapeutics has a 12-month low of $5.25 and a 12-month high of $22.75. 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 has a market capitalization of $441.44 million, a P/E ratio of -3.60 and a beta of 0.58. The stock’s fifty day simple moving average is $7.62 and its 200-day simple moving average is $7.75.

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

Insider Activity

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

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of TVTX. Hennion & Walsh Asset Management Inc. boosted its holdings 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 period. Los Angeles Capital Management LLC acquired a new stake in shares of Travere Therapeutics in the first quarter valued at approximately $720,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Travere Therapeutics in the fourth quarter valued at approximately $5,711,000. Vanguard Group Inc. raised its position in shares of Travere Therapeutics by 18.2% in the fourth 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 in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Travere Therapeutics in the fourth quarter valued at approximately $1,277,000.

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.