Travere Therapeutics (NASDAQ:TVTX) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Travere Therapeutics (NASDAQ:TVTX) in a research report report published on Tuesday, Benzinga reports. They currently have a $19.00 price target on the stock.

Other analysts have also issued reports about the company. Wells Fargo & Company lifted their price target on Travere Therapeutics from $8.00 to $9.00 and gave the stock an equal weight rating in a report on Friday, February 16th. Wedbush reissued an outperform rating and issued a $13.00 target price on shares of Travere Therapeutics in a research report on Wednesday, April 17th. Canaccord Genuity Group upped their price target on Travere Therapeutics from $15.00 to $18.00 and gave the company a buy rating in a research report on Tuesday. Piper Sandler lifted their price objective on Travere Therapeutics from $10.00 to $11.00 and gave the stock a neutral rating in a report on Thursday, January 18th. Finally, Guggenheim reaffirmed a neutral rating on shares of Travere Therapeutics in a report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Travere Therapeutics currently has a consensus rating of Moderate Buy and an average price target of $16.69.

Travere Therapeutics Stock Performance

Shares of TVTX opened at $6.75 on Tuesday. The firm has a market capitalization of $513.74 million, a P/E ratio of -4.19 and a beta of 0.69. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $19.54. The stock has a 50 day moving average price of $7.01 and a two-hundred day moving average price of $7.60. The company has a debt-to-equity ratio of 1.88, a quick ratio of 3.41 and a current ratio of 3.47.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Monday, May 6th. The company reported ($1.76) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.78). The company had revenue of $41.40 million for the quarter, compared to the consensus estimate of $43.46 million. Travere Therapeutics had a negative net margin of 56.02% and a negative return on equity of 177.97%. Travere Therapeutics’s revenue was up 34.0% on a year-over-year basis. During the same quarter last year, the business posted ($1.27) earnings per share. Equities analysts forecast that Travere Therapeutics will post -3.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Armistice Capital LLC raised its holdings in shares of Travere Therapeutics by 0.7% during the 3rd quarter. Armistice Capital LLC now owns 7,500,000 shares of the company’s stock valued at $67,050,000 after buying an additional 50,000 shares in the last quarter. Vanguard Group Inc. raised its position in Travere Therapeutics by 10.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,667,458 shares of the company’s stock worth $41,727,000 after purchasing an additional 460,176 shares during the period. Kynam Capital Management LP lifted its stake in Travere Therapeutics by 105.6% in the fourth quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock worth $17,980,000 after purchasing an additional 1,027,398 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Travere Therapeutics by 9.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,671,770 shares of the company’s stock valued at $14,946,000 after buying an additional 146,970 shares during the last quarter. Finally, Finepoint Capital LP increased its holdings in shares of Travere Therapeutics by 60.2% in the fourth quarter. Finepoint Capital LP now owns 1,435,321 shares of the company’s stock worth $12,904,000 after buying an additional 539,500 shares during the period.

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.