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

by · The Cerbat Gem

Travere Therapeutics (NASDAQ:TVTX – Get Free Report) had its price target cut by analysts at HC Wainwright from $23.00 to $18.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 28.48% from the company’s previous close.

TVTX has been the topic of several other research reports. Citigroup raised their price target on shares of Travere Therapeutics from $14.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Piper Sandler raised their price target 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. JPMorgan Chase & Co. raised their price objective on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Canaccord Genuity Group raised their price objective on shares of Travere Therapeutics from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Bank of America lowered their price objective on shares of Travere Therapeutics from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.82.

Read Our Latest Analysis on Travere Therapeutics

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX opened at $14.01 on Friday. The firm’s 50 day moving average is $10.66 and its two-hundred day moving average is $8.45. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $15.36. The firm has a market capitalization of $1.07 billion, a P/E ratio of -6.67 and a beta of 0.71. 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 (NASDAQ:TVTX – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) 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 firm had revenue of $54.12 million during the quarter, compared to analyst estimates of $49.50 million. Analysts anticipate that Travere Therapeutics will post -3.95 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP William E. Rote sold 4,387 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the completion of the sale, the senior vice president now directly owns 84,455 shares in the company, valued at $972,921.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the transaction, the senior vice president now directly owns 84,455 shares in the company, valued at approximately $972,921.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jula Inrig sold 2,191 shares of Travere Therapeutics 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 transaction, the insider now owns 62,633 shares in the company, valued at $721,532.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,707 shares of company stock worth $352,712. Corporate insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new position in shares of Travere Therapeutics during the 1st quarter valued at $32,000. DRW Securities LLC purchased a new position in shares of Travere Therapeutics during the 2nd quarter valued at $95,000. Forefront Analytics LLC grew its holdings in shares of Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after acquiring an additional 1,237 shares in the last quarter. Sei Investments Co. purchased a new position in shares of Travere Therapeutics during the 2nd quarter valued at $117,000. Finally, Quest Partners LLC grew its holdings in shares of Travere Therapeutics by 240.6% during the 2nd quarter. Quest Partners LLC now owns 14,336 shares of the company’s stock valued at $118,000 after acquiring an additional 10,127 shares in the last quarter.

Travere Therapeutics Company Profile

(Get Free Report)

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.

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