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

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) was upgraded by equities researchers at HC Wainwright to a "buy" rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage presently has a $30.00 price target on the stock. HC Wainwright's target price suggests a potential upside of 104.36% from the stock's current price.

Several other brokerages also recently issued reports on TVTX. Bank of America upped their price objective on shares of Travere Therapeutics from $29.00 to $31.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Canaccord Genuity Group increased their price objective on shares of Travere Therapeutics from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, April 10th. Scotiabank reaffirmed an "outperform" rating on shares of Travere Therapeutics in a research report on Friday, April 11th. Stifel Nicolaus lifted their price target on shares of Travere Therapeutics from $22.00 to $23.00 and gave the company a "hold" rating in a report on Friday, May 2nd. Finally, Wedbush restated an "outperform" rating and set a $30.00 price objective on shares of Travere Therapeutics in a report on Friday, May 16th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $32.14.

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX traded up $0.16 during trading on Wednesday, hitting $14.68. 753,085 shares of the stock were exchanged, compared to its average volume of 1,596,502. The company has a market cap of $1.30 billion, a PE ratio of -3.58 and a beta of 0.75. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The company has a fifty day moving average price of $16.87 and a two-hundred day moving average price of $18.59. Travere Therapeutics has a 12-month low of $6.80 and a 12-month high of $25.29.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.08. The firm had revenue of $81.73 million during the quarter, compared to analysts' expectations of $77.44 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. Travere Therapeutics's revenue was up 83.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.76) earnings per share. On average, analysts forecast that Travere Therapeutics will post -1.4 EPS for the current year.

Insider Activity

In related news, insider Peter Heerma sold 1,771 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $37,279.55. Following the transaction, the insider now directly owns 128,215 shares in the company, valued at $2,698,925.75. This trade represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher R. Cline sold 1,784 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $37,553.20. Following the sale, the chief financial officer now owns 93,126 shares of the company's stock, valued at approximately $1,960,302.30. The trade was a 1.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,527 shares of company stock worth $473,814 over the last ninety days. Corporate insiders own 4.19% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Entropy Technologies LP acquired a new position in Travere Therapeutics in the fourth quarter valued at approximately $214,000. US Bancorp DE lifted its stake in Travere Therapeutics by 323.4% in the fourth quarter. US Bancorp DE now owns 31,795 shares of the company's stock valued at $554,000 after buying an additional 24,286 shares during the last quarter. Northern Trust Corp lifted its stake in Travere Therapeutics by 11.3% in the fourth quarter. Northern Trust Corp now owns 754,395 shares of the company's stock valued at $13,142,000 after buying an additional 76,358 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Travere Therapeutics by 12.8% during the fourth quarter. Swiss National Bank now owns 151,900 shares of the company's stock valued at $2,646,000 after acquiring an additional 17,200 shares during the period. Finally, Wellington Management Group LLP bought a new position in shares of Travere Therapeutics during the fourth quarter worth about $583,000.

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.