HC Wainwright Boosts Travere Therapeutics (NASDAQ:TVTX) Price Target to $20.00

Travere Therapeutics (NASDAQ:TVTX) had its price target upped by research analysts at HC Wainwright from $19.00 to $20.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 135.02% from the stock’s previous close.

TVTX has been the subject of a number of other reports. Wedbush boosted their target price on Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday. Canaccord Genuity Group upped their target price on Travere Therapeutics from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Piper Sandler upped their target price on Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Barclays upped their target price on Travere Therapeutics from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Travere Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $15.27.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock traded down $0.49 during mid-day trading on Monday, reaching $8.51. 1,549,731 shares of the stock were exchanged, compared to its average volume of 1,233,988. The company has a market cap of $647.86 million, a price-to-earnings ratio of -4.05 and a beta of 0.77. The company has a current ratio of 2.78, a quick ratio of 2.75 and a debt-to-equity ratio of 5.10. The firm has a 50-day simple moving average of $8.36 and a 200 day simple moving average of $7.74. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $15.90.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Monday, May 6th. The company reported ($1.76) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.78). The company had revenue of $41.40 million during the quarter, compared to analyst estimates of $43.46 million. Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 207.40%. The company’s revenue was up 34.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.27) EPS. On average, sell-side analysts predict that Travere Therapeutics will post -3.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Signaturefd LLC grew its stake in shares of Travere Therapeutics by 1,656.4% in the 4th quarter. Signaturefd LLC now owns 3,021 shares of the company’s stock valued at $27,000 after buying an additional 2,849 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Travere Therapeutics in the 1st quarter worth approximately $32,000. Nisa Investment Advisors LLC boosted its stake in shares of Travere Therapeutics by 968.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,650 shares of the company’s stock worth $51,000 after buying an additional 5,121 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Travere Therapeutics by 68.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock worth $113,000 after buying an additional 5,962 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Travere Therapeutics in the fourth quarter valued at approximately $137,000.

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.