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

Key Points

• HC Wainwright has reaffirmed a buy rating for Travere Therapeutics (NASDAQ:TVTX) with a target price of $47.00, suggesting a potential upside of 71.07% from the current stock price.
• The stock has received multiple favorable ratings from other analysts, with a consensus rating of "Moderate Buy" and a target price averaging $33.43.
• Travere Therapeutics reported a 111.5% increase in revenue year-over-year for the last quarter, achieving $94.84 million, despite a higher than expected earnings loss per share of ($0.14).

Travere Therapeutics (NASDAQ:TVTX - Get Free Report)'s stock had its "buy" rating reissued by analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $47.00 price target on the stock. HC Wainwright's price target points to a potential upside of 100.26% from the stock's current price.

A number of other equities analysts have also recently issued reports on the company. Wall Street Zen upgraded Travere Therapeutics from a "hold" rating to a "buy" rating in a report on Monday, September 1st. Scotiabank reissued an "outperform" rating on shares of Travere Therapeutics in a research note on Thursday, August 7th. Citigroup reissued a "buy" rating on shares of Travere Therapeutics in a research note on Sunday, August 10th. Finally, Wedbush boosted their target price on Travere Therapeutics from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $34.20.

Travere Therapeutics Price Performance

Travere Therapeutics stock traded down $1.53 during midday trading on Wednesday, hitting $23.47. 2,942,088 shares of the company's stock were exchanged, compared to its average volume of 2,571,546. Travere Therapeutics has a 52-week low of $12.57 and a 52-week high of $28.69. The stock has a 50-day moving average price of $17.72 and a two-hundred day moving average price of $17.40. The company has a debt-to-equity ratio of 9.50, a quick ratio of 1.98 and a current ratio of 2.00. The company has a market cap of $2.09 billion, a P/E ratio of -11.50 and a beta of 0.79.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.28) by $0.14. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The firm had revenue of $94.84 million during the quarter, compared to analysts' expectations of $100.18 million. During the same period in the prior year, the business earned ($0.65) EPS. The company's revenue for the quarter was up 111.5% compared to the same quarter last year. On average, equities research analysts forecast that Travere Therapeutics will post -1.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. grew its stake in shares of Travere Therapeutics by 0.3% in the 2nd quarter. Prudential Financial Inc. now owns 244,256 shares of the company's stock worth $3,615,000 after buying an additional 615 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Travere Therapeutics by 3.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 22,688 shares of the company's stock valued at $336,000 after purchasing an additional 773 shares during the last quarter. Arizona State Retirement System boosted its stake in Travere Therapeutics by 4.3% during the 1st quarter. Arizona State Retirement System now owns 23,364 shares of the company's stock valued at $419,000 after purchasing an additional 968 shares during the last quarter. E Fund Management Co. Ltd. boosted its stake in Travere Therapeutics by 8.6% during the 1st quarter. E Fund Management Co. Ltd. now owns 13,553 shares of the company's stock valued at $243,000 after purchasing an additional 1,072 shares during the last quarter. Finally, Sio Capital Management LLC boosted its stake in Travere Therapeutics by 1.0% during the 2nd quarter. Sio Capital Management LLC now owns 122,210 shares of the company's stock valued at $1,809,000 after purchasing an additional 1,210 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.