Travere Therapeutics’ (TVTX) “Buy” Rating Reiterated at Guggenheim

Guggenheim reaffirmed their buy rating on shares of Travere Therapeutics (NASDAQ:TVTX) in a research report released on Monday,Benzinga reports. The firm currently has a $47.00 target price on the stock.

Several other research analysts have also recently issued reports on TVTX. Bank of America increased their price target on Travere Therapeutics from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. HC Wainwright raised their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. JPMorgan Chase & Co. upped their price target on shares of Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Evercore ISI raised their price objective on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Canaccord Genuity Group boosted their target price on Travere Therapeutics from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.08.

Travere Therapeutics Stock Performance

Shares of TVTX opened at $14.57 on Monday. The firm has a fifty day moving average of $19.19 and a 200-day moving average of $18.54. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -3.55 and a beta of 0.84. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $25.29.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.15). The firm had revenue of $74.79 million during the quarter, compared to analyst estimates of $72.38 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. As a group, equities analysts anticipate that Travere Therapeutics will post -1.4 earnings per share for the current year.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, CAO Sandra Calvin sold 54,244 shares of Travere Therapeutics stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the transaction, the chief accounting officer now directly owns 54,410 shares in the company, valued at approximately $1,360,250. The trade was a 49.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Peter Heerma sold 1,584 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $18.94, for a total transaction of $30,000.96. Following the sale, the insider now directly owns 106,374 shares in the company, valued at approximately $2,014,723.56. This trade represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,877 shares of company stock valued at $4,147,627 over the last ninety days. Corporate insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in Travere Therapeutics by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock valued at $24,222,000 after purchasing an additional 64,744 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Travere Therapeutics during the 3rd quarter valued at $301,000. Diversified Trust Co increased its stake in shares of Travere Therapeutics by 27.5% in the fourth quarter. Diversified Trust Co now owns 14,701 shares of the company’s stock worth $256,000 after acquiring an additional 3,169 shares during the last quarter. R Squared Ltd acquired a new stake in Travere Therapeutics during the fourth quarter valued at $53,000. Finally, Baader Bank Aktiengesellschaft purchased a new position in Travere Therapeutics in the fourth quarter valued at about $192,000.

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.