Wedbush Boosts Travere Therapeutics (NASDAQ:TVTX) Price Target to $16.00

Travere Therapeutics (NASDAQ:TVTX) had its price target raised by stock analysts at Wedbush from $13.00 to $16.00 in a report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price objective would suggest a potential upside of 73.16% from the stock’s current price.

Several other equities research analysts have also recently commented on TVTX. Canaccord Genuity Group boosted their price target on Travere Therapeutics from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. HC Wainwright restated a “buy” rating and issued a $19.00 target price on shares of Travere Therapeutics in a report on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Travere Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.91.

Travere Therapeutics Stock Performance

Travere Therapeutics stock opened at $9.24 on Friday. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $16.79. The company has a debt-to-equity ratio of 5.10, a current ratio of 2.78 and a quick ratio of 2.75. The company has a market cap of $703.44 million, a P/E ratio of -4.40 and a beta of 0.77. The firm’s 50 day simple moving average is $8.30 and its 200-day simple moving average is $7.77.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Monday, May 6th. The company reported ($1.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.78). The company had revenue of $41.40 million for the quarter, compared to analyst estimates of $43.46 million. Travere Therapeutics had a negative net margin of 87.94% and a negative return on equity of 238.06%. The company’s quarterly revenue was up 34.0% on a year-over-year basis. During the same period last year, the business earned ($1.27) EPS. As a group, equities research analysts predict that Travere Therapeutics will post -3.92 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Travere Therapeutics by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock valued at $48,310,000 after buying an additional 750,686 shares during the period. Assenagon Asset Management S.A. increased its position in Travere Therapeutics by 912.5% in the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock worth $18,200,000 after purchasing an additional 1,995,419 shares during the period. Kynam Capital Management LP lifted its position in Travere Therapeutics by 105.6% during the 4th quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock valued at $17,980,000 after purchasing an additional 1,027,398 shares during the period. Finepoint Capital LP boosted its stake in shares of Travere Therapeutics by 60.2% in the 4th quarter. Finepoint Capital LP now owns 1,435,321 shares of the company’s stock valued at $12,904,000 after purchasing an additional 539,500 shares during the last quarter. Finally, Parkman Healthcare Partners LLC grew its position in shares of Travere Therapeutics by 76.4% during the 4th quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock worth $9,159,000 after buying an additional 441,318 shares during the period.

Travere Therapeutics Company Profile

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.