Wedbush Reiterates Outperform Rating for Travere Therapeutics (NASDAQ:TVTX)

Travere Therapeutics (NASDAQ:TVTX - Get Free Report)'s stock had its "outperform" rating reissued by equities researchers at Wedbush in a research note issued on Wednesday, Benzinga reports. They presently have a $13.00 price target on the stock. Wedbush's price objective indicates a potential upside of 117.03% from the stock's previous close.

TVTX has been the topic of a number of other reports. Piper Sandler increased their price objective on shares of Travere Therapeutics from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Thursday, January 18th. Wells Fargo & Company increased their price objective on shares of Travere Therapeutics from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Friday, February 16th. Guggenheim restated a "neutral" rating on shares of Travere Therapeutics in a report on Wednesday, March 27th. Finally, HC Wainwright restated a "buy" rating and issued a $17.00 target price on shares of Travere Therapeutics in a report on Wednesday, March 13th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $17.85.

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX traded down $0.16 on Wednesday, reaching $5.99. 1,313,830 shares of the company were exchanged, compared to its average volume of 1,249,553. The firm has a market cap of $455.89 million, a price-to-earnings ratio of -3.72 and a beta of 0.58. Travere Therapeutics has a 1-year low of $5.25 and a 1-year high of $22.75. The company has a 50-day moving average of $7.67 and a 200-day moving average of $7.76. The company has a current ratio of 3.47, a quick ratio of 3.41 and a debt-to-equity ratio of 1.88.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($1.16) EPS for the quarter, beating analysts' consensus estimates 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%. Equities analysts forecast that Travere Therapeutics will post -3.1 earnings per share for the current fiscal year.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 19,122 shares of the 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 completion of the sale, the chief executive officer now owns 350,600 shares of the company's stock, valued at $3,050,220. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Travere Therapeutics news, CEO Eric M. Dube sold 19,122 shares of the 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 completion of the sale, the chief executive officer now owns 350,600 shares of the company's stock, valued at $3,050,220. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter Heerma sold 4,195 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 transaction of $35,783.35. Following the completion of the sale, the insider now directly owns 99,503 shares of the company's stock, valued at approximately $848,760.59. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,030 shares of company stock worth $419,773. Company insiders own 4.06% of the company's stock.

Institutional Investors Weigh In On Travere Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted 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 buying an additional 460,176 shares during the last quarter. Jump Financial LLC lifted its stake in Travere Therapeutics by 232.3% in the third quarter. Jump Financial LLC now owns 188,925 shares of the company's stock valued at $1,689,000 after buying an additional 132,067 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in Travere Therapeutics by 71.4% in the third quarter. Schonfeld Strategic Advisors LLC now owns 524,000 shares of the company's stock valued at $4,685,000 after buying an additional 218,371 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted 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 buying an additional 146,970 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Travere Therapeutics during the third quarter valued at about $1,179,000.

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.