HC Wainwright Trims Travere Therapeutics (NASDAQ:TVTX) Target Price to $18.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective trimmed by HC Wainwright from $23.00 to $18.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock an overweight rating in a research note on Friday, September 13th. Barclays lifted their price objective on Travere Therapeutics from $12.00 to $14.00 and gave the stock an overweight rating in a research report on Friday, August 2nd. Piper Sandler increased their price objective on shares of Travere Therapeutics from $11.00 to $12.00 and gave the stock a neutral rating in a research report on Friday, August 2nd. Bank of America decreased 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. Finally, Canaccord Genuity Group lifted their price objective on shares of Travere Therapeutics from $18.00 to $23.00 and gave the company a buy rating in a research report on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $16.73.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock opened at $13.99 on Friday. The company’s 50-day moving average price is $10.74 and its two-hundred day moving average price is $8.49. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96. The stock has a market cap of $1.07 billion, a PE ratio of -6.66 and a beta of 0.71. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $15.36.

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

Insider Buying and Selling at Travere Therapeutics

In related news, SVP William E. Rote sold 4,387 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 $50,538.24. Following the completion of the transaction, the senior vice president now directly owns 84,455 shares in the company, valued at approximately $972,921.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP William E. Rote sold 4,387 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 value of $50,538.24. Following the transaction, the senior vice president now directly owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jula Inrig sold 2,191 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 62,633 shares of the company’s stock, valued at $721,532.16. The disclosure for this sale can be found here. Insiders sold a total of 70,707 shares of company stock worth $915,112 in the last three months. 3.75% of the stock is currently owned by company insiders.

Institutional Trading of Travere Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. EntryPoint Capital LLC purchased a new position in shares of Travere Therapeutics during the first quarter valued at $32,000. DRW Securities LLC acquired a new stake in Travere Therapeutics in the second quarter worth about $95,000. Forefront Analytics LLC boosted its holdings in Travere Therapeutics by 10.2% in 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. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Travere Therapeutics by 68.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock worth $113,000 after purchasing an additional 5,962 shares during the period. Finally, Sei Investments Co. acquired a new stake in shares of Travere Therapeutics during the second quarter worth about $117,000.

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.