HC Wainwright Trims Travere Therapeutics (NASDAQ:TVTX) Target Price to $18.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective cut by HC Wainwright from $23.00 to $18.00 in a research note published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on the company. JPMorgan Chase & Co. boosted their price target on Travere Therapeutics from $20.00 to $23.00 and gave the stock an overweight rating in a research report on Friday, September 13th. Canaccord Genuity Group upped their target price on Travere Therapeutics from $18.00 to $23.00 and gave the company a buy rating in a report on Tuesday, September 10th. Wedbush upped their target price on Travere Therapeutics from $13.00 to $16.00 and gave the company an outperform rating in a report on Friday, August 2nd. Bank of America dropped their target price on Travere Therapeutics from $19.00 to $18.00 and set a buy rating for the company in a report on Friday. Finally, Barclays upped their price target on Travere Therapeutics from $12.00 to $14.00 and gave the company an overweight rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $16.73.

Travere Therapeutics Stock Down 0.1 %

Shares of TVTX opened at $13.99 on Friday. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. Travere Therapeutics has a one year low of $5.12 and a one year high of $15.36. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -6.66 and a beta of 0.71. The stock has a 50 day moving average price of $10.74 and a 200 day moving average price of $8.49.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The firm had revenue of $54.12 million for the quarter, compared to analysts’ expectations of $49.50 million. Equities research analysts forecast that Travere Therapeutics will post -3.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Travere Therapeutics news, Director Jeffrey A. Meckler sold 40,000 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $14.06, for a total transaction of $562,400.00. Following the sale, the director now owns 81,000 shares in the company, valued at approximately $1,138,860. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the company’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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeffrey A. Meckler sold 40,000 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $14.06, for a total value of $562,400.00. Following the sale, the director now owns 81,000 shares in the company, valued at approximately $1,138,860. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,707 shares of company stock valued at $915,112. Corporate insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Several large investors have recently bought and sold shares of the stock. EntryPoint Capital LLC purchased a new position in shares of Travere Therapeutics in the 1st quarter valued at about $32,000. DRW Securities LLC purchased a new position in shares of Travere Therapeutics in the 2nd quarter valued at about $95,000. Forefront Analytics LLC increased its holdings in shares of Travere Therapeutics by 10.2% in the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after acquiring an additional 1,237 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Travere Therapeutics by 68.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock valued at $113,000 after acquiring an additional 5,962 shares during the last quarter. Finally, Sei Investments Co. purchased a new position in shares of Travere Therapeutics in the 2nd quarter valued at about $117,000.

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.