Travere Therapeutics (NASDAQ:TVTX) Stock Price Target Cut by Guggenheim

Travere Therapeutics (NASDAQ:TVTX) had its target price dropped by research analysts at Guggenheim from $89.00 to $78.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim‘s target price points to a potential upside of 55.51% from the company’s previous close.

Several other equities research analysts have also issued reports on TVTX. Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Friday, September 18th. Evercore set a $78.00 target price on Travere Therapeutics in a research note on Monday, August 10th. Citigroup raised their price target on Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Canaccord Genuity Group raised their price target on Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Zacks Research downgraded Travere Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 20th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Travere Therapeutics has an average rating of “Moderate Buy” and an average price target of $68.40.

Travere Therapeutics Price Performance

NASDAQ TVTX traded up $0.75 on Wednesday, hitting $50.16. The stock had a trading volume of 185,188 shares, compared to its average volume of 2,034,152. The firm has a 50-day moving average of $58.42 and a 200-day moving average of $46.67. The company has a debt-to-equity ratio of 24.58, a quick ratio of 3.99 and a current ratio of 4.05. Travere Therapeutics has a 52-week low of $22.59 and a 52-week high of $68.73. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of -39.03 and a beta of 1.11.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Monday, November 2nd. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.45). The firm had revenue of $224.56 million for the quarter, compared to analysts’ expectations of $195.29 million. Travere Therapeutics had a negative net margin of 18.66% and a negative return on equity of 152.48%. The firm’s revenue for the quarter was up 36.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 earnings per share. Equities analysts expect that Travere Therapeutics will post -0.92 EPS for the current year.

Insiders Place Their Bets

In other Travere Therapeutics news, insider Elizabeth Reed sold 37,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $62.34, for a total value of $2,337,750.00. Following the completion of the sale, the insider owned 105,389 shares of the company’s stock, valued at $6,569,950.26. This represents a 26.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jula Inrig sold 44,674 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $62.34, for a total transaction of $2,784,977.16. Following the transaction, the executive vice president owned 100,491 shares in the company, valued at $6,264,608.94. The trade was a 30.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,294,029 shares of company stock valued at $79,454,261 over the last 90 days. Company insiders own 4.44% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Travere Therapeutics by 53.4% in the second quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after acquiring an additional 211 shares during the period. Fifth Third Bancorp bought a new stake in shares of Travere Therapeutics during the first quarter valued at approximately $35,000. Allworth Financial LP bought a new stake in shares of Travere Therapeutics during the 2nd quarter valued at $47,000. Integrated Wealth Concepts LLC bought a new stake in Travere Therapeutics during the second quarter worth about $70,000. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Travere Therapeutics by 1,604.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,642 shares of the company’s stock worth $101,000 after buying an additional 2,487 shares during the last quarter.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare diseases, with an emphasis on serious kidney conditions. The company’s work centers on addressing diseases with limited treatment options and improving outcomes for patients with progressive renal disorders.

Travere’s lead commercial product is FILSPARI (sparsentan), an oral treatment for adults with primary immunoglobulin A nephropathy (IgA nephropathy) who are at risk of disease progression.