Travere Therapeutics' (TVTX) "Buy" Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright has reaffirmed a buy rating for Travere Therapeutics (NASDAQ:TVTX) with a target price of $47.00, implying a potential upside of 94.30% from the previous close.
• Analysts have a consensus rating of "Moderate Buy" for Travere, with 13 out of 15 analysts recommending a buy.
• In its last earnings report, Travere reported a 111.5% increase in quarterly revenue year-over-year, with a loss per share of ($0.14) against a consensus estimate of ($0.28).

Travere Therapeutics (NASDAQ:TVTX - Get Free Report)'s stock had its "buy" rating restated by equities researchers at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $47.00 target price on the stock. HC Wainwright's price objective would indicate a potential upside of 84.82% from the stock's previous close.

A number of other analysts have also recently commented on the company. Wall Street Zen upgraded Travere Therapeutics from a "hold" rating to a "buy" rating in a research report on Monday, September 1st. Citigroup restated a "buy" rating on shares of Travere Therapeutics in a research report on Sunday, August 10th. Scotiabank reaffirmed an "outperform" rating on shares of Travere Therapeutics in a report on Thursday, August 7th. Wedbush boosted their target price on shares of Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Jefferies Financial Group set a $35.00 price target on shares of Travere Therapeutics in a research report on Wednesday, September 10th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $34.20.

Travere Therapeutics Stock Performance

TVTX traded up $0.58 on Friday, reaching $25.43. The stock had a trading volume of 1,625,793 shares, compared to its average volume of 1,794,621. The business's 50-day moving average price is $18.50 and its two-hundred day moving average price is $17.49. The company has a market cap of $2.27 billion, a P/E ratio of -12.47 and a beta of 0.79. Travere Therapeutics has a 12-month low of $12.91 and a 12-month high of $28.69. The company has a current ratio of 2.00, a quick ratio of 1.98 and a debt-to-equity ratio of 9.50.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.14) EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $100.18 million. During the same period last year, the firm earned ($0.65) EPS. The company's quarterly revenue was up 111.5% on a year-over-year basis. Sell-side analysts forecast that Travere Therapeutics will post -1.4 earnings per share for the current year.

Institutional Investors Weigh In On Travere Therapeutics

Large investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. boosted 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 valued at $3,615,000 after buying an additional 615 shares during the period. Teacher Retirement System of Texas grew its position in shares of Travere Therapeutics by 3.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 22,688 shares of the company's stock valued at $336,000 after buying an additional 773 shares during the last quarter. Arizona State Retirement System raised 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 worth $419,000 after acquiring an additional 968 shares in the last quarter. E Fund Management Co. Ltd. lifted its position in Travere Therapeutics by 8.6% in the first quarter. E Fund Management Co. Ltd. now owns 13,553 shares of the company's stock valued at $243,000 after acquiring an additional 1,072 shares during the last quarter. Finally, Sio Capital Management LLC boosted its stake in Travere Therapeutics by 1.0% in the second quarter. Sio Capital Management LLC now owns 122,210 shares of the company's stock valued at $1,809,000 after acquiring an additional 1,210 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.