Guggenheim Reaffirms Buy Rating for Travere Therapeutics (NASDAQ:TVTX)

Travere Therapeutics (NASDAQ:TVTX)‘s stock had its “buy” rating restated by equities researchers at Guggenheim in a research note issued on Monday,Benzinga reports. They presently have a $47.00 price objective on the stock. Guggenheim’s price target would suggest a potential upside of 215.22% from the stock’s previous close.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. lifted their price target on Travere Therapeutics from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Cantor Fitzgerald restated an “overweight” rating on shares of Travere Therapeutics in a research note on Thursday, April 3rd. Scotiabank upped their price target on Travere Therapeutics from $27.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, February 12th. Citigroup lifted their price objective on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a report on Monday, February 24th. Finally, Canaccord Genuity Group increased their target price on shares of Travere Therapeutics from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.08.

Travere Therapeutics Trading Up 0.5 %

NASDAQ:TVTX opened at $14.91 on Monday. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The business’s 50-day simple moving average is $19.33 and its 200-day simple moving average is $18.57. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $25.29. The stock has a market capitalization of $1.32 billion, a PE ratio of -3.64 and a beta of 0.84.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The company had revenue of $74.79 million during the quarter, compared to the consensus estimate of $72.38 million. Sell-side analysts expect that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, SVP William E. Rote sold 2,437 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total value of $47,424.02. Following the transaction, the senior vice president now directly owns 83,170 shares in the company, valued at $1,618,488.20. The trade was a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sandra Calvin sold 54,244 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the sale, the chief accounting officer now owns 54,410 shares of the company’s stock, valued at approximately $1,360,250. This represents a 49.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 188,877 shares of company stock worth $4,147,627 over the last 90 days. Company insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Several hedge funds have recently bought and sold shares of TVTX. Geode Capital Management LLC increased its stake in shares of Travere Therapeutics by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock worth $24,222,000 after purchasing an additional 64,744 shares during the period. Virtu Financial LLC acquired a new position in Travere Therapeutics in the 3rd quarter valued at $301,000. Diversified Trust Co increased its position in Travere Therapeutics by 27.5% during the 4th quarter. Diversified Trust Co now owns 14,701 shares of the company’s stock worth $256,000 after buying an additional 3,169 shares during the period. R Squared Ltd acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth $53,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of Travere Therapeutics in the fourth quarter valued at about $192,000.

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.