Guggenheim Reiterates Buy Rating for Travere Therapeutics (NASDAQ:TVTX)

Guggenheim reaffirmed their buy rating on shares of Travere Therapeutics (NASDAQ:TVTX) in a research note published on Monday,Benzinga reports. Guggenheim currently has a $47.00 target price on the stock.

A number of other research analysts have also issued reports on the company. Evercore ISI boosted their price objective on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Canaccord Genuity Group upped their price target on shares of Travere Therapeutics from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, April 10th. HC Wainwright increased their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Bank of America boosted their target price on shares of Travere Therapeutics from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, April 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.08.

Travere Therapeutics Stock Up 2.3 %

Shares of NASDAQ:TVTX opened at $14.83 on Monday. The company’s fifty day moving average is $19.47 and its two-hundred day moving average is $18.60. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. Travere Therapeutics has a 1-year low of $5.12 and a 1-year high of $25.29. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -3.62 and a beta of 0.84.

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

Insider Buying and Selling at Travere Therapeutics

In related news, CFO Christopher R. Cline sold 5,192 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $20.12, for a total transaction of $104,463.04. Following the completion of the sale, the chief financial officer now directly owns 90,038 shares of the company’s stock, valued at $1,811,564.56. This represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William E. Rote sold 2,437 shares of Travere Therapeutics stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total transaction of $47,424.02. Following the completion of the transaction, the senior vice president now owns 83,170 shares in the company, valued at approximately $1,618,488.20. This trade represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 188,877 shares of company stock valued at $4,147,627. 3.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its holdings in shares of Travere Therapeutics by 2.7% in the first quarter. Rhumbline Advisers now owns 124,550 shares of the company’s stock worth $2,232,000 after buying an additional 3,302 shares during the period. GAMMA Investing LLC boosted its stake in Travere Therapeutics by 5,072.9% in the 1st quarter. GAMMA Investing LLC now owns 10,501 shares of the company’s stock worth $188,000 after purchasing an additional 10,298 shares during the period. Wellington Management Group LLP purchased a new position in Travere Therapeutics during the 4th quarter worth approximately $583,000. California State Teachers Retirement System raised its stake in Travere Therapeutics by 10.8% during the 4th quarter. California State Teachers Retirement System now owns 72,192 shares of the company’s stock valued at $1,258,000 after purchasing an additional 7,041 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Travere Therapeutics in the fourth quarter valued at $4,418,000.

About Travere Therapeutics

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.