HC Wainwright Reiterates "Buy" Rating for Travere Therapeutics (NASDAQ:TVTX)

Travere Therapeutics (NASDAQ:TVTX - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They presently have a $30.00 price target on the stock. HC Wainwright's target price points to a potential upside of 103.94% from the stock's current price.

TVTX has been the topic of several other reports. Stifel Nicolaus increased 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. Wedbush reiterated an "outperform" rating and set a $30.00 target price on shares of Travere Therapeutics in a research note on Friday, May 16th. Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a research note on Friday, April 11th. Citigroup decreased their price objective on Travere Therapeutics from $35.00 to $32.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Finally, Bank of America increased their price objective on Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Travere Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.14.

Travere Therapeutics Stock Down 0.6%

TVTX traded down $0.09 during trading on Tuesday, hitting $14.71. The company had a trading volume of 1,503,537 shares, compared to its average volume of 1,609,237. The company has a market capitalization of $1.31 billion, a PE ratio of -5.23 and a beta of 0.75. The company has a quick ratio of 2.03, a current ratio of 2.05 and a debt-to-equity ratio of 9.46. Travere Therapeutics has a one year low of $7.72 and a one year high of $25.29. The firm's 50-day moving average price is $16.90 and its 200 day moving average price is $18.21.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.47) EPS for the quarter, topping analysts' consensus estimates of ($0.55) by $0.08. The business had revenue of $81.73 million for the quarter, compared to analyst estimates of $77.44 million. Travere Therapeutics had a negative net margin of 82.88% and a negative return on equity of 1,179.73%. The firm's revenue for the quarter was up 83.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.76) earnings per share. As a group, equities analysts expect that Travere Therapeutics will post -1.4 earnings per share for the current year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, CFO Christopher R. Cline sold 1,784 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $37,553.20. Following the completion of the sale, the chief financial officer owned 93,126 shares in the company, valued at approximately $1,960,302.30. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric M. Dube sold 18,924 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 $398,350.20. Following the transaction, the chief executive officer directly owned 419,173 shares in the company, valued at approximately $8,823,591.65. The trade was a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,527 shares of company stock worth $473,814 over the last ninety days. Insiders own 4.06% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TVTX. US Bancorp DE increased its stake in Travere Therapeutics by 323.4% during the 4th quarter. US Bancorp DE now owns 31,795 shares of the company's stock valued at $554,000 after purchasing an additional 24,286 shares in the last quarter. Northern Trust Corp increased its position in shares of Travere Therapeutics by 11.3% during the fourth quarter. Northern Trust Corp now owns 754,395 shares of the company's stock valued at $13,142,000 after acquiring an additional 76,358 shares in the last quarter. Wellington Management Group LLP purchased a new position in Travere Therapeutics in the 4th quarter worth approximately $583,000. Swiss National Bank lifted its position in Travere Therapeutics by 12.8% in the 4th 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 in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Travere Therapeutics by 5,072.9% during the 1st quarter. GAMMA Investing LLC now owns 10,501 shares of the company's stock valued at $188,000 after purchasing an additional 10,298 shares during 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.