HC Wainwright Reiterates Buy Rating for Travere Therapeutics (NASDAQ:TVTX)

Travere Therapeutics (NASDAQ:TVTX)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report released on Tuesday,Benzinga reports. They presently have a $47.00 target price on the stock. HC Wainwright’s target price indicates a potential upside of 53.09% from the company’s previous close.

TVTX has been the subject of several other reports. Citigroup reiterated a “buy” rating on shares of Travere Therapeutics in a research report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Wall Street Zen cut shares of Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, January 21st. Finally, Piper Sandler increased their price objective on shares of Travere Therapeutics from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.27.

Travere Therapeutics Trading Up 6.0%

Shares of NASDAQ TVTX opened at $30.70 on Tuesday. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.70 and a current ratio of 2.74. Travere Therapeutics has a 52-week low of $13.88 and a 52-week high of $42.13. The firm has a 50 day moving average price of $29.20 and a two-hundred day moving average price of $31.18. The stock has a market cap of $2.84 billion, a P/E ratio of -102.33 and a beta of 0.86.

Insider Buying and Selling at Travere Therapeutics

In related news, insider Elizabeth E. Reed sold 10,000 shares of the stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $27.34, for a total transaction of $273,400.00. Following the transaction, the insider directly owned 90,270 shares of the company’s stock, valued at $2,467,981.80. This represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric M. Dube sold 100,087 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $32.28, for a total transaction of $3,230,808.36. Following the transaction, the chief executive officer directly owned 432,886 shares in the company, valued at approximately $13,973,560.08. This represents a 18.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 312,067 shares of company stock valued at $9,755,570 over the last 90 days. Insiders own 4.06% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System boosted its stake in Travere Therapeutics by 1.5% during the third quarter. Arizona State Retirement System now owns 24,964 shares of the company’s stock worth $597,000 after acquiring an additional 375 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Travere Therapeutics by 69.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock worth $45,000 after acquiring an additional 487 shares in the last quarter. Comerica Bank boosted 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 acquiring an additional 492 shares in the last quarter. ProShare Advisors LLC boosted its stake in Travere Therapeutics by 4.1% during the fourth quarter. ProShare Advisors LLC now owns 19,007 shares of the company’s stock worth $726,000 after acquiring an additional 756 shares in the last quarter. Finally, Diversified Trust Co boosted its stake in Travere Therapeutics by 3.5% during the third quarter. Diversified Trust Co now owns 23,695 shares of the company’s stock worth $566,000 after acquiring an additional 796 shares in the last quarter.

Travere Therapeutics Company Profile

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.