Travere Therapeutics (NASDAQ:TVTX) PT Lowered to $18.00 at HC Wainwright

Travere Therapeutics (NASDAQ:TVTX) had its price objective dropped by research analysts at HC Wainwright from $23.00 to $18.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 28.48% from the company’s current price.

Several other equities research analysts have also issued reports on TVTX. Wedbush lifted their price objective on shares of Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Piper Sandler lifted their price objective on shares of Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Bank of America cut their target price on shares of Travere Therapeutics from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Friday. JPMorgan Chase & Co. boosted their target price on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Finally, Citigroup boosted their target price on shares of Travere Therapeutics from $14.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $16.82.

Travere Therapeutics Stock Down 6.8 %

TVTX stock opened at $14.01 on Friday. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $15.36. The company has a fifty day simple moving average of $10.66 and a 200 day simple moving average of $8.45. The firm has a market cap of $1.07 billion, a PE ratio of -6.67 and a beta of 0.71.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.03). Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. The business had revenue of $54.12 million during the quarter, compared to analyst estimates of $49.50 million. Sell-side analysts anticipate that Travere Therapeutics will post -3.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jula Inrig sold 2,191 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $25,240.32. Following the sale, the insider now directly owns 62,633 shares in the company, valued at $721,532.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Jula Inrig sold 2,191 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $25,240.32. Following the completion of the transaction, the insider now owns 62,633 shares in the company, valued at approximately $721,532.16. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Christopher R. Cline sold 2,490 shares of Travere Therapeutics stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $28,684.80. Following the sale, the chief financial officer now owns 74,595 shares in the company, valued at $859,334.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,707 shares of company stock worth $352,712. 3.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Travere Therapeutics

Large investors have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Travere Therapeutics by 203.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock valued at $5,055,000 after buying an additional 412,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Travere Therapeutics during the second quarter worth $291,000. Forefront Analytics LLC raised its stake in Travere Therapeutics by 10.2% during the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after acquiring an additional 1,237 shares in the last quarter. 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 acquiring an additional 747,406 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Travere Therapeutics by 55.7% during the second quarter. AQR Capital Management LLC now owns 74,069 shares of the company’s stock worth $609,000 after acquiring an additional 26,485 shares in the last quarter.

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.