HC Wainwright Forecasts Strong Price Appreciation for Travere Therapeutics (NASDAQ:TVTX) Stock

Travere Therapeutics (NASDAQ:TVTX) had its price objective hoisted by stock analysts at HC Wainwright from $18.00 to $22.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 19.25% from the company’s current price. HC Wainwright also issued estimates for Travere Therapeutics’ FY2029 earnings at $4.22 EPS.

Several other research analysts also recently issued reports on TVTX. Citigroup cut their price target on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Guggenheim lifted their target price on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Leerink Partners reiterated an “outperform” rating and issued a $20.00 price target on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Cantor Fitzgerald started coverage on Travere Therapeutics in a research report on Friday, January 10th. They set an “overweight” rating for the company. Finally, Bank of America upped their target price on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Travere Therapeutics Trading Up 2.1 %

Shares of TVTX opened at $18.45 on Wednesday. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $20.33. 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 firm has a market capitalization of $1.44 billion, a P/E ratio of -4.05 and a beta of 0.70. The firm’s 50-day moving average is $18.23 and its two-hundred day moving average is $14.37.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01. The business had revenue of $62.90 million for the quarter, compared to analysts’ expectations of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The company’s revenue was up 69.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.17) EPS. On average, research analysts predict that Travere Therapeutics will post -3.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Travere Therapeutics news, insider Jula Inrig sold 2,066 shares of Travere Therapeutics stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $19.10, for a total value of $39,460.60. Following the completion of the sale, the insider now owns 59,883 shares in the company, valued at $1,143,765.30. The trade was a 3.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Sandra Calvin sold 12,090 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $18.30, for a total transaction of $221,247.00. Following the transaction, the chief accounting officer now directly owns 54,927 shares of the company’s stock, valued at approximately $1,005,164.10. This represents a 18.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,596 shares of company stock valued at $527,262 in the last quarter. 4.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Millennium Management LLC raised its stake in Travere Therapeutics by 33.9% during the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after purchasing an additional 747,406 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Travere Therapeutics by 203.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock worth $5,055,000 after buying an additional 412,000 shares during the last quarter. Emerald Advisers LLC raised its position in shares of Travere Therapeutics by 19.8% in the 3rd quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock worth $27,430,000 after buying an additional 323,513 shares during the period. Emerald Mutual Fund Advisers Trust boosted its holdings in Travere Therapeutics by 26.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company’s stock valued at $16,588,000 after acquiring an additional 244,444 shares during the last quarter. Finally, Walleye Capital LLC grew its position in Travere Therapeutics by 70.1% during the third quarter. Walleye Capital LLC now owns 488,453 shares of the company’s stock valued at $6,833,000 after acquiring an additional 201,282 shares during the period.

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.