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

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) had its target price increased by analysts at HC Wainwright from $17.00 to $19.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's target price would suggest a potential upside of 248.62% from the stock's previous close.

Other research analysts have also issued research reports about the stock. Guggenheim restated a "neutral" rating on shares of Travere Therapeutics in a research report on Wednesday, March 27th. Piper Sandler increased 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 set a $13.00 target price on shares of Travere Therapeutics in a research report on Wednesday, April 17th. Finally, Wells Fargo & Company increased 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 investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $18.00.

Travere Therapeutics Stock Performance

Shares of TVTX stock traded down $0.29 on Wednesday, reaching $5.45. The stock had a trading volume of 1,983,107 shares, compared to its average volume of 1,260,729. The company has a quick ratio of 3.41, a current ratio of 3.47 and a debt-to-equity ratio of 1.88. The firm's 50-day moving average is $7.41 and its two-hundred day moving average is $7.68. The firm has a market capitalization of $414.80 million, a price-to-earnings ratio of -3.39 and a beta of 0.58. Travere Therapeutics has a 12 month low of $5.25 and a 12 month high of $22.75.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The company reported ($1.16) earnings per share 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 analysts' expectations 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, research analysts expect that Travere Therapeutics will post -3.1 EPS for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 19,122 shares of the firm's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $8.70, for a total value of $166,361.40. Following the sale, the chief executive officer now owns 350,600 shares in the company, valued at $3,050,220. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP William E. Rote sold 4,764 shares of the firm's stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $8.71, for a total transaction of $41,494.44. Following the completion of the transaction, the senior vice president now owns 80,720 shares of the company's stock, valued at $703,071.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric M. Dube sold 19,122 shares of the firm'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 transaction, the chief executive officer now directly owns 350,600 shares of the company's stock, valued at approximately $3,050,220. The disclosure for this sale can be found here. Insiders have sold 34,773 shares of company stock worth $300,625 over the last quarter. Corporate insiders own 4.06% of the company's stock.

Hedge Funds Weigh In On Travere Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rice Hall James & Associates LLC lifted its holdings in Travere Therapeutics by 4.5% in the first quarter. Rice Hall James & Associates LLC now owns 73,400 shares of the company's stock valued at $566,000 after buying an additional 3,140 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Travere Therapeutics by 14.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 40,790 shares of the company's stock valued at $314,000 after buying an additional 5,123 shares during the period. Los Angeles Capital Management LLC bought a new stake in Travere Therapeutics in the first quarter valued at $720,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Travere Therapeutics in the fourth quarter valued at $5,711,000. Finally, Virtu Financial LLC bought a new stake in Travere Therapeutics in the fourth quarter valued at $175,000.

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.