Travere Therapeutics’ (TVTX) “Neutral” Rating Reaffirmed at Guggenheim

Guggenheim reissued their neutral rating on shares of Travere Therapeutics (NASDAQ:TVTX) in a research report released on Wednesday morning, MarketBeat Ratings reports.

A number of other brokerages also recently weighed in on TVTX. HC Wainwright reaffirmed a buy rating and set a $17.00 price objective on shares of Travere Therapeutics in a research report on Wednesday, March 13th. Piper Sandler upped their target price on shares of Travere Therapeutics from $10.00 to $11.00 and gave the stock a neutral rating in a research report on Thursday, January 18th. Wedbush restated an outperform rating and issued a $13.00 target price on shares of Travere Therapeutics in a research report on Friday, February 16th. Stifel Nicolaus upped their target price on shares of Travere Therapeutics from $8.00 to $10.00 and gave the stock a hold rating in a research report on Monday, December 18th. Finally, Wells Fargo & Company upped their target price on shares of Travere Therapeutics from $8.00 to $9.00 and gave the stock an equal weight rating in a research report on Friday, February 16th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $17.85.

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX opened at $7.67 on Wednesday. The company has a quick ratio of 3.41, a current ratio of 3.47 and a debt-to-equity ratio of 1.88. Travere Therapeutics has a fifty-two week low of $5.25 and a fifty-two week high of $23.17. The firm has a 50-day simple moving average of $8.26 and a 200 day simple moving average of $8.21. The company has a market cap of $583.67 million, a PE ratio of -4.76 and a beta of 0.58.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($1.16) earnings per share for the quarter, beating 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 business had revenue of $45.06 million during the quarter, compared to the consensus estimate of $41.25 million. On average, sell-side analysts anticipate that Travere Therapeutics will post -3.1 EPS for the current year.

Insider Activity at Travere Therapeutics

In related news, CFO Christopher R. Cline sold 3,818 shares of the company’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 value of $32,567.54. Following the completion of the sale, the chief financial officer now owns 70,903 shares in the company, valued at approximately $604,802.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Travere Therapeutics news, CFO Christopher R. Cline sold 3,818 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $8.53, for a total value of $32,567.54. Following the completion of the sale, the chief financial officer now owns 70,903 shares in the company, valued at approximately $604,802.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric M. Dube sold 7,873 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $8.96, for a total transaction of $70,542.08. Following the completion of the sale, the chief executive officer now owns 234,722 shares of the company’s stock, valued at approximately $2,103,109.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,045 shares of company stock worth $439,024. 4.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TVTX. Envestnet Asset Management Inc. lifted its position in Travere Therapeutics by 13.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 10,362 shares of the company’s stock worth $267,000 after buying an additional 1,224 shares in the last quarter. US Bancorp DE increased its stake in shares of Travere Therapeutics by 1,372.3% during the 1st quarter. US Bancorp DE now owns 1,487 shares of the company’s stock worth $38,000 after purchasing an additional 1,386 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Travere Therapeutics by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 33,799 shares of the company’s stock worth $871,000 after purchasing an additional 12,475 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Travere Therapeutics by 3.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,099,058 shares of the company’s stock worth $28,321,000 after purchasing an additional 40,555 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Travere Therapeutics by 43.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 731,000 shares of the company’s stock valued at $18,838,000 after buying an additional 220,000 shares during the last quarter.

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.