Travere Therapeutics (NASDAQ:TVTX) Receives Buy Rating from Guggenheim

Guggenheim reaffirmed their buy rating on shares of Travere Therapeutics (NASDAQ:TVTX - Free Report) in a report issued on Monday morning,Benzinga reports. Guggenheim currently has a $47.00 price objective on the stock.

Several other equities analysts have also commented on the company. Canaccord Genuity Group upped their target price on Travere Therapeutics from $45.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, April 10th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Travere Therapeutics in a research report on Thursday, April 3rd. HC Wainwright raised their price target on Travere Therapeutics from $18.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Evercore ISI increased their target price on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Finally, Scotiabank upped their price target on shares of Travere Therapeutics from $27.00 to $32.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $32.08.

Travere Therapeutics Stock Up 2.4 %

NASDAQ TVTX traded up $0.35 during trading hours on Monday, reaching $14.92. 1,101,182 shares of the company traded hands, compared to its average volume of 1,520,566. The company has a 50 day moving average of $18.89 and a two-hundred day moving average of $18.56. The stock has a market capitalization of $1.32 billion, a PE ratio of -3.64 and a beta of 0.84. Travere Therapeutics has a 12 month low of $5.12 and a 12 month high of $25.29. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.15). The firm had revenue of $74.79 million for the quarter, compared to analyst estimates of $72.38 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. As a group, equities analysts expect that Travere Therapeutics will post -1.4 earnings per share for the current year.

Insider Activity

In other Travere Therapeutics news, CAO Sandra Calvin sold 54,244 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the completion of the transaction, the chief accounting officer now directly owns 54,410 shares in the company, valued at $1,360,250. This represents a 49.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP William E. Rote sold 2,437 shares of Travere Therapeutics stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total transaction of $47,424.02. Following the transaction, the senior vice president now directly owns 83,170 shares of the company's stock, valued at $1,618,488.20. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 188,877 shares of company stock worth $4,147,627. Company insiders own 3.75% of the company's stock.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new position in shares of Travere Therapeutics in the 4th quarter valued at $31,000. Sterling Capital Management LLC lifted its stake in Travere Therapeutics by 859.8% in the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock valued at $41,000 after buying an additional 2,115 shares during the period. R Squared Ltd bought a new position in Travere Therapeutics during the 4th quarter worth approximately $53,000. Gen Wealth Partners Inc bought a new position in shares of Travere Therapeutics during the fourth quarter worth $73,000. Finally, Summit Investment Advisors Inc. grew its stake in Travere Therapeutics by 9.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company's stock valued at $138,000 after acquiring an additional 667 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.