Travere Therapeutics (NASDAQ:TVTX) Earns “Outperform” Rating from Wedbush

Travere Therapeutics (NASDAQ:TVTX)‘s stock had its “outperform” rating reiterated by equities researchers at Wedbush in a report released on Wednesday,Benzinga reports. They presently have a $55.00 target price on the stock. Wedbush’s price target suggests a potential upside of 28.09% from the company’s previous close.

A number of other analysts have also recently weighed in on TVTX. Weiss Ratings raised shares of Travere Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 21st. TD Cowen boosted their target price on shares of Travere Therapeutics from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Wall Street Zen cut shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Citigroup boosted their target price on shares of Travere Therapeutics from $53.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Wells Fargo & Company boosted their target price on shares of Travere Therapeutics from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.67.

Travere Therapeutics Stock Performance

NASDAQ TVTX opened at $42.94 on Wednesday. The firm’s fifty day moving average price is $38.29 and its two-hundred day moving average price is $34.51. The stock has a market cap of $3.99 billion, a PE ratio of -186.69 and a beta of 1.13. Travere Therapeutics has a fifty-two week low of $13.88 and a fifty-two week high of $48.61. The company has a debt-to-equity ratio of 3.16, a quick ratio of 3.08 and a current ratio of 3.13.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.29. The firm had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $136.23 million. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The company’s revenue was up 55.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.47) earnings per share. On average, equities analysts expect that Travere Therapeutics will post -0.26 EPS for the current fiscal year.

Insider Activity

In other news, Director Roy D. Baynes sold 32,750 shares of the firm’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $41.29, for a total transaction of $1,352,247.50. Following the completion of the transaction, the director owned 37,500 shares of the company’s stock, valued at approximately $1,548,375. This trade represents a 46.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Sandra Calvin sold 21,977 shares of the firm’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $41.07, for a total transaction of $902,595.39. Following the transaction, the chief accounting officer directly owned 42,353 shares of the company’s stock, valued at $1,739,437.71. The trade was a 34.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 400,015 shares of company stock valued at $15,895,428. 4.44% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Travere Therapeutics during the second quarter worth $33,000. Fifth Third Bancorp bought a new position in Travere Therapeutics during the first quarter worth $35,000. State of Wyoming bought a new position in Travere Therapeutics during the fourth quarter worth $37,000. Torren Management LLC bought a new position in Travere Therapeutics during the fourth quarter worth $38,000. Finally, Comerica Bank raised its stake in Travere Therapeutics by 77.5% during the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after buying an additional 492 shares during the last quarter.

About Travere Therapeutics

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.