HC Wainwright Increases Travere Therapeutics (NASDAQ:TVTX) Price Target to $19.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective increased by HC Wainwright from $17.00 to $19.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective 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.

Several other analysts have also commented on the stock. Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Travere Therapeutics in a research report on Wednesday, April 17th. Guggenheim reissued a “neutral” rating on shares of Travere Therapeutics in a research report on Wednesday, March 27th. Wells Fargo & Company boosted their target price on Travere Therapeutics from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Friday, February 16th. Finally, Piper Sandler boosted their target price on Travere Therapeutics from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Travere Therapeutics Stock Down 1.1 %

TVTX stock opened at $5.39 on Wednesday. The firm has a market cap of $410.23 million, a PE ratio of -3.35 and a beta of 0.58. The company has a debt-to-equity ratio of 1.88, a quick ratio of 3.41 and a current ratio of 3.47. The firm’s 50 day moving average price is $7.34 and its 200-day moving average price is $7.66. Travere Therapeutics has a one year low of $5.12 and a one year high of $22.75.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, February 15th. The company reported ($1.16) EPS for the quarter, beating the consensus estimate of ($1.27) by $0.11. The firm had revenue of $45.06 million for the quarter, compared to analyst estimates of $41.25 million. Travere Therapeutics had a negative net margin of 56.02% and a negative return on equity of 177.97%. On average, equities research analysts anticipate that Travere Therapeutics will post -3.1 EPS for the current year.

Insiders Place Their Bets

In other Travere Therapeutics news, SVP William E. Rote sold 4,764 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 80,720 shares in the company, 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, CEO Eric M. Dube sold 19,122 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $8.70, for a total transaction of $166,361.40. Following the completion of the transaction, the chief executive officer now owns 350,600 shares in the company, valued at $3,050,220. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP William E. Rote sold 4,764 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $8.71, for a total transaction of $41,494.44. Following the transaction, the senior vice president now owns 80,720 shares of the company’s stock, valued at approximately $703,071.20. The disclosure for this sale can be found here. Insiders sold a total of 34,773 shares of company stock worth $300,625 over the last 90 days. Corporate insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Armistice Capital LLC grew its stake in shares of Travere Therapeutics by 0.7% during the third quarter. Armistice Capital LLC now owns 7,500,000 shares of the company’s stock worth $67,050,000 after purchasing an additional 50,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in Travere Therapeutics by 10.9% in the third quarter. Vanguard Group Inc. now owns 4,667,458 shares of the company’s stock valued at $41,727,000 after acquiring an additional 460,176 shares in the last quarter. Kynam Capital Management LP boosted 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 valued at $17,980,000 after acquiring an additional 1,027,398 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Travere Therapeutics by 9.6% in 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 acquiring an additional 146,970 shares in the last quarter. Finally, Finepoint Capital LP boosted its stake in Travere Therapeutics by 60.2% in the fourth quarter. Finepoint Capital LP now owns 1,435,321 shares of the company’s stock valued at $12,904,000 after acquiring an additional 539,500 shares in the last quarter.

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.