Travere Therapeutics (NASDAQ:TVTX) Stock Price Expected to Rise, HC Wainwright Analyst Says

Travere Therapeutics (NASDAQ:TVTX) had its price objective boosted by HC Wainwright from $18.00 to $22.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Travere Therapeutics’ FY2029 earnings at $4.22 EPS.

TVTX has been the topic of several other research reports. Scotiabank increased their target price on Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a research report on Friday, November 1st. Bank of America raised their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Wedbush boosted their target price on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Canaccord Genuity Group lowered their price target on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Guggenheim boosted their price objective on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Travere Therapeutics Stock Performance

TVTX stock opened at $18.07 on Wednesday. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. Travere Therapeutics has a 1-year low of $5.12 and a 1-year high of $20.33. The business has a 50-day moving average price of $18.23 and a 200 day moving average price of $14.37. The company has a market capitalization of $1.41 billion, a P/E ratio of -3.97 and a beta of 0.70.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.01. The firm had revenue of $62.90 million during the quarter, compared to analysts’ expectations of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The company’s revenue was up 69.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.17) EPS. As a group, equities research analysts forecast that Travere Therapeutics will post -3.92 EPS for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other news, insider Jula Inrig sold 2,066 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $19.10, for a total value of $39,460.60. Following the transaction, the insider now directly owns 59,883 shares of the company’s stock, valued at approximately $1,143,765.30. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sandra Calvin sold 15,000 shares of Travere Therapeutics stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $17.22, for a total value of $258,300.00. Following the sale, the chief accounting officer now directly owns 54,927 shares of the company’s stock, valued at $945,842.94. This trade represents a 21.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,596 shares of company stock worth $527,262. Company insiders own 4.06% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

A number of institutional investors have recently bought and sold shares of TVTX. CWM LLC boosted its holdings in shares of Travere Therapeutics by 158.5% in the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after acquiring an additional 3,065 shares during the last quarter. DRW Securities LLC acquired a new position in Travere Therapeutics during the second quarter valued at $95,000. Quarry LP purchased a new stake in Travere Therapeutics in the third quarter valued at $105,000. Forefront Analytics LLC grew its position in Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after purchasing an additional 1,237 shares during the period. Finally, Sei Investments Co. purchased a new position in shares of Travere Therapeutics during the 2nd quarter valued at about $117,000.

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.