Travere Therapeutics (NASDAQ:TVTX) Stock Keeps “Outperform” Rating at Wedbush

Travere Therapeutics (NASDAQ:TVTX)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a research report issued on Tuesday, Benzinga reports. They currently have a $76.00 target price on the stock. Wedbush’s price target points to a potential upside of 23.44% from the stock’s previous close.

TVTX has been the subject of a number of other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Friday, September 18th. Piper Sandler restated an “overweight” rating on shares of Travere Therapeutics in a research report on Monday, August 17th. Guggenheim boosted their price target on Travere Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Wells Fargo & Company boosted their price target on Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Finally, Canaccord Genuity Group boosted their price target on Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.50.

Travere Therapeutics Stock Performance

NASDAQ:TVTX traded up $2.13 during midday trading on Tuesday, reaching $61.57. 1,234,787 shares of the company traded hands, compared to its average volume of 1,488,379. Travere Therapeutics has a twelve month low of $22.06 and a twelve month high of $68.73. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58. The company has a fifty day moving average price of $62.17 and a 200 day moving average price of $49.89.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.The business had revenue of $169.58 million during the quarter, compared to analyst estimates of $157.27 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The business’s revenue for the quarter was up 48.2% compared to the same quarter last year. Sell-side analysts anticipate that Travere Therapeutics will post -0.54 earnings per share for the current fiscal year.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 195,841 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $63.45, for a total transaction of $12,426,111.45. Following the completion of the transaction, the chief executive officer owned 432,886 shares in the company, valued at approximately $27,466,616.70. The trade was a 31.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Heerma sold 172,717 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $63.43, for a total value of $10,955,439.31. Following the completion of the sale, the executive vice president owned 117,066 shares of the company’s stock, valued at approximately $7,425,496.38. This trade represents a 59.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,050,294 shares of company stock worth $66,336,443 in the last ninety days. 4.44% of the stock is currently owned by corporate insiders.

Institutional Trading of Travere Therapeutics

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Travere Therapeutics by 53.4% in the second quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after buying an additional 211 shares during the period. Corient Private Wealth LP lifted its holdings in shares of Travere Therapeutics by 1.4% in the second quarter. Corient Private Wealth LP now owns 48,125 shares of the company’s stock valued at $2,734,000 after buying an additional 648 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Travere Therapeutics by 4.1% in the fourth quarter. ProShare Advisors LLC now owns 19,007 shares of the company’s stock valued at $726,000 after buying an additional 756 shares during the period. Allworth Financial LP acquired a new stake in shares of Travere Therapeutics in the second quarter valued at $47,000. Finally, Swiss National Bank lifted its holdings in shares of Travere Therapeutics by 0.6% in the first quarter. Swiss National Bank now owns 168,100 shares of the company’s stock valued at $4,994,000 after buying an additional 1,000 shares during the period.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare kidney and immune-mediated diseases. The company’s work is centered on conditions with significant unmet medical needs, including diseases that can lead to progressive kidney damage and kidney failure.

Travere’s principal commercial product is FILSPARI (sparsentan), an oral therapy for adults with primary immunoglobulin A nephropathy, or IgA nephropathy, who are at risk of disease progression.