Travere Therapeutics’ (TVTX) “Outperform” Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Travere Therapeutics (NASDAQ:TVTX) in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a $76.00 price objective on the stock.

A number of other equities analysts have also weighed in on the company. Guggenheim upped their target price on Travere Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Piper Sandler reiterated an “overweight” rating on shares of Travere Therapeutics in a research report on Monday, August 17th. HC Wainwright reissued a “buy” rating and set a $67.00 price objective on shares of Travere Therapeutics in a report on Tuesday. Citigroup upped their price objective on shares of Travere Therapeutics from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, TD Cowen raised their target price on shares of Travere Therapeutics from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Travere Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $69.50.

Travere Therapeutics Stock Up 1.3%

Shares of NASDAQ:TVTX opened at $60.62 on Tuesday. The firm has a fifty day moving average price of $62.12 and a two-hundred day moving average price of $49.67. The company has a market cap of $5.71 billion, a price-to-earnings ratio of -131.78 and a beta of 1.05. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.99. Travere Therapeutics has a one year low of $22.06 and a one year high of $68.73.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.03. The firm had revenue of $169.58 million for the quarter, compared to analysts’ expectations of $157.27 million. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The business’s quarterly revenue was up 48.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 earnings per share. Analysts anticipate that Travere Therapeutics will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, insider William Rote sold 112,850 shares of Travere Therapeutics stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $63.33, for a total transaction of $7,146,790.50. Following the completion of the sale, the insider owned 98,197 shares of the company’s stock, valued at $6,218,816.01. The trade was a 53.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Heerma sold 8,282 shares of the company’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $65.07, for a total value of $538,909.74. Following the completion of the transaction, the executive vice president owned 117,066 shares of the company’s stock, valued at $7,617,484.62. The trade was a 6.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,050,294 shares of company stock valued at $66,336,443. 4.44% of the stock is currently owned by company insiders.

Institutional Trading of Travere Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Jupiter Topco LLC purchased a new position in shares of Travere Therapeutics during the second quarter worth approximately $643,299,000. Bank of America Corp DE purchased a new stake in shares of Travere Therapeutics in the 2nd quarter valued at $259,527,000. Perceptive Advisors LLC boosted its stake in shares of Travere Therapeutics by 12.7% in the 4th quarter. Perceptive Advisors LLC now owns 4,278,180 shares of the company’s stock valued at $163,469,000 after purchasing an additional 483,565 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Travere Therapeutics by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 2,143,495 shares of the company’s stock valued at $81,915,000 after purchasing an additional 5,465 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its holdings in shares of Travere Therapeutics by 4.5% during the 1st quarter. Stephens Investment Management Group LLC now owns 1,798,466 shares of the company’s stock valued at $53,432,000 after purchasing an additional 76,843 shares during the last quarter.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare kidney and immune-mediated diseases. The company’s work is centered on conditions with significant unmet medical needs, including diseases that can lead to progressive kidney damage and kidney failure.

Travere’s principal commercial product is FILSPARI (sparsentan), an oral therapy for adults with primary immunoglobulin A nephropathy, or IgA nephropathy, who are at risk of disease progression.