Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $32.00 at Wedbush

Key Points

• Analysts at Wedbush have increased their price target for Travere Therapeutics from $30.00 to $32.00, signaling a potential upside of 85.61% based on the current price.
• The company's recent earnings report showed a quarterly revenue of $94.84 million, exceeding analysts' expectations, despite a loss of ($0.14) earnings per share.
• Overall, Travere Therapeutics holds a consensus rating of "Moderate Buy" with 13 buy ratings, indicating strong investor interest in the stock's growth potential.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) had its price target upped by equities researchers at Wedbush from $30.00 to $32.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Wedbush's target price points to a potential upside of 88.90% from the company's previous close.

A number of other research analysts have also weighed in on the company. Scotiabank reissued an "outperform" rating on shares of Travere Therapeutics in a report on Friday, April 11th. Citigroup dropped their target price on Travere Therapeutics from $35.00 to $32.00 and set a "buy" rating on the stock in a research report on Wednesday, June 11th. HC Wainwright reissued a "buy" rating and set a $30.00 price target on shares of Travere Therapeutics in a research report on Tuesday, July 1st. Guggenheim restated a "buy" rating and set a $47.00 price objective on shares of Travere Therapeutics in a research note on Monday, April 14th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Travere Therapeutics in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $32.21.

Travere Therapeutics Stock Performance

Travere Therapeutics stock traded up $0.03 during mid-day trading on Thursday, reaching $16.94. 1,843,104 shares of the company traded hands, compared to its average volume of 1,361,821. The firm's fifty day moving average is $15.46 and its two-hundred day moving average is $17.80. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of -8.30 and a beta of 0.74. Travere Therapeutics has a fifty-two week low of $8.31 and a fifty-two week high of $25.29. The company has a debt-to-equity ratio of 9.46, a current ratio of 2.05 and a quick ratio of 2.03.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.14. The firm had revenue of $94.84 million for the quarter, compared to the consensus estimate of $100.18 million. Travere Therapeutics had a negative return on equity of 825.12% and a negative net margin of 50.64%. The firm's revenue was up 111.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.65) EPS. On average, equities research analysts expect that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new stake in shares of Travere Therapeutics during the 4th quarter worth about $31,000. Sterling Capital Management LLC raised its holdings in Travere Therapeutics by 859.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock worth $41,000 after purchasing an additional 2,115 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Travere Therapeutics during the first quarter worth approximately $62,000. KBC Group NV acquired a new stake in Travere Therapeutics in the first quarter valued at approximately $75,000. Finally, Gen Wealth Partners Inc purchased a new stake in shares of Travere Therapeutics in the fourth quarter valued at approximately $73,000.

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.