Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $19.00

Travere Therapeutics (NASDAQ:TVTX) had its price target increased by equities researchers at HC Wainwright from $17.00 to $19.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 252.50% from the company’s current price. HC Wainwright also issued estimates for Travere Therapeutics’ FY2028 earnings at $4.29 EPS.

A number of other analysts also recently commented on TVTX. Wells Fargo & Company boosted their target price on shares of Travere Therapeutics from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Friday, February 16th. Piper Sandler boosted their target price on shares of Travere Therapeutics from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. Wedbush reiterated an “outperform” rating and issued a $13.00 target price on shares of Travere Therapeutics in a report on Wednesday, April 17th. Finally, Guggenheim reiterated 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 company. According to MarketBeat, Travere Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Travere Therapeutics Stock Down 1.1 %

TVTX stock opened at $5.39 on Wednesday. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $22.75. The company has a market capitalization of $410.23 million, a price-to-earnings ratio of -3.35 and a beta of 0.58. The firm’s 50-day moving average is $7.34 and its two-hundred day moving average is $7.66. The company has a current ratio of 3.47, a quick ratio of 3.41 and a debt-to-equity ratio of 1.88.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, February 15th. The company reported ($1.16) EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $41.25 million. On average, analysts forecast that Travere Therapeutics will post -3.1 earnings per share for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other news, SVP William E. Rote sold 4,764 shares of Travere Therapeutics stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $8.71, for a total value of $41,494.44. Following the transaction, the senior vice president now directly owns 80,720 shares of the company’s stock, valued at $703,071.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP William E. Rote sold 4,764 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $8.71, for a total transaction of $41,494.44. Following the transaction, the senior vice president now directly owns 80,720 shares of the company’s stock, valued at $703,071.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher R. Cline sold 3,818 shares of the business’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 transaction of $32,567.54. Following the transaction, the chief financial officer now directly owns 70,903 shares in the company, valued at $604,802.59. The disclosure for this sale can be found here. Insiders have sold a total of 34,773 shares of company stock valued at $300,625 over the last ninety days. Corporate insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TVTX. SG Americas Securities LLC purchased a new position in Travere Therapeutics during the third quarter valued at approximately $1,179,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Travere Therapeutics by 32.0% in 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 during the last quarter. Emerald Advisers LLC lifted its stake in shares of Travere Therapeutics by 64.9% in the third quarter. Emerald Advisers LLC now owns 1,060,302 shares of the company’s stock worth $9,479,000 after buying an additional 417,250 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in Travere Therapeutics by 44.4% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 764,603 shares of the company’s stock valued at $6,836,000 after purchasing an additional 235,085 shares during the last quarter. Finally, Cheyne Capital Management UK LLP acquired a new position in Travere Therapeutics during the 3rd quarter valued at $234,000.

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.