Travere Therapeutics (NASDAQ:TVTX) Price Target Increased to $19.00 by Analysts at HC Wainwright

Travere Therapeutics (NASDAQ:TVTX) had its target price raised by HC Wainwright from $17.00 to $19.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also weighed in on the stock. Piper Sandler increased their price objective on shares of Travere Therapeutics from $10.00 to $11.00 and gave the stock a neutral rating in a research note on Thursday, January 18th. Wells Fargo & Company boosted their price objective on Travere Therapeutics from $8.00 to $9.00 and gave the company an equal weight rating in a research report on Friday, February 16th. Wedbush reaffirmed an outperform rating and issued a $13.00 target price on shares of Travere Therapeutics in a research report on Wednesday, April 17th. Finally, Guggenheim reissued a neutral rating on shares of Travere Therapeutics in a report on Wednesday, March 27th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $18.00.

Travere Therapeutics Stock Down 5.1 %

Shares of NASDAQ TVTX opened at $5.45 on Wednesday. Travere Therapeutics has a 1 year low of $5.25 and a 1 year 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 stock’s 50-day simple moving average is $7.41 and its 200-day simple moving average is $7.68.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results 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 net margin of 56.02% and a negative return on equity of 177.97%. The company had revenue of $45.06 million during the quarter, compared to the consensus estimate of $41.25 million. As a group, analysts forecast that Travere Therapeutics will post -3.1 EPS for the current year.

Insiders Place Their Bets

In other Travere Therapeutics news, CEO Eric M. Dube sold 19,122 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were 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 directly owns 350,600 shares in the company, valued at $3,050,220. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Travere Therapeutics news, insider Peter Heerma sold 4,195 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $8.53, for a total value of $35,783.35. Following the transaction, the insider now owns 99,503 shares in the company, valued at approximately $848,760.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Eric M. Dube sold 19,122 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $8.70, for a total value of $166,361.40. Following the sale, the chief executive officer now owns 350,600 shares of the company’s stock, valued at $3,050,220. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,773 shares of company stock worth $300,625. Company insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in shares of Travere Therapeutics by 1,656.4% during the 4th quarter. Signaturefd LLC now owns 3,021 shares of the company’s stock worth $27,000 after purchasing an additional 2,849 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Travere Therapeutics by 968.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,650 shares of the company’s stock valued at $51,000 after buying an additional 5,121 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Travere Therapeutics by 353.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,690 shares of the company’s stock valued at $78,000 after buying an additional 6,773 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Travere Therapeutics in the fourth quarter valued at about $137,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Travere Therapeutics by 32.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,511 shares of the company’s stock worth $148,000 after buying an additional 4,007 shares in 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.