Travere Therapeutics (NASDAQ:TVTX) Receives "Buy" Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Travere Therapeutics (NASDAQ:TVTX - Free Report) in a report published on Tuesday, Benzinga reports. They currently have a $19.00 price target on the stock.

Several other research analysts also recently weighed in on the company. Wells Fargo & Company lifted their target price on Travere Therapeutics from $8.00 to $9.00 and gave the company an equal weight rating in a research note on Friday, February 16th. Wedbush restated an outperform rating and issued a $13.00 price target on shares of Travere Therapeutics in a research note on Wednesday, April 17th. Canaccord Genuity Group lifted their price target on Travere Therapeutics from $15.00 to $18.00 and gave the company a buy rating in a research note on Tuesday. Piper Sandler lifted their price target on Travere Therapeutics from $10.00 to $11.00 and gave the company a neutral rating in a research note on Thursday, January 18th. Finally, Guggenheim restated a neutral rating on shares of Travere Therapeutics in a research note on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $16.69.

Travere Therapeutics Stock Performance

TVTX traded up $0.20 during trading on Tuesday, hitting $6.75. 1,938,134 shares of the stock were exchanged, compared to its average volume of 1,282,855. The firm has a market capitalization of $513.74 million, a P/E ratio of -4.29 and a beta of 0.69. Travere Therapeutics has a 1-year low of $5.12 and a 1-year high of $19.54. The stock has a fifty day moving average price of $7.04 and a two-hundred day moving average price of $7.61. The company has a quick ratio of 3.41, a current ratio of 3.47 and a debt-to-equity ratio of 1.88.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings results on Monday, May 6th. The company reported ($1.76) EPS for the quarter, missing the consensus estimate of ($0.98) by ($0.78). The firm had revenue of $41.40 million for the quarter, compared to analyst estimates of $43.46 million. Travere Therapeutics had a negative return on equity of 177.97% and a negative net margin of 56.02%. The company's quarterly revenue was up 34.0% on a year-over-year basis. During the same period last year, the firm earned ($1.27) EPS. As a group, sell-side analysts predict that Travere Therapeutics will post -3.1 earnings per share for the current year.

Hedge Funds Weigh In On Travere Therapeutics

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Travere Therapeutics by 10.9% in the third quarter. Vanguard Group Inc. now owns 4,667,458 shares of the company's stock worth $41,727,000 after acquiring an additional 460,176 shares during the last quarter. Jump Financial LLC raised its holdings in shares of Travere Therapeutics by 232.3% in the third quarter. Jump Financial LLC now owns 188,925 shares of the company's stock worth $1,689,000 after acquiring an additional 132,067 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in shares of Travere Therapeutics by 71.4% in the third quarter. Schonfeld Strategic Advisors LLC now owns 524,000 shares of the company's stock worth $4,685,000 after acquiring an additional 218,371 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of 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 worth $14,946,000 after acquiring an additional 146,970 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Travere Therapeutics by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 565,919 shares of the company's stock worth $5,059,000 after acquiring an additional 25,566 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.