Jeffrey A. Meckler Sells 40,000 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Jeffrey A. Meckler sold 40,000 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $14.06, for a total transaction of $562,400.00. Following the completion of the transaction, the director now directly owns 81,000 shares of the company’s stock, valued at $1,138,860. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $13.99 on Wednesday. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. The firm has a market cap of $1.07 billion, a PE ratio of -6.66 and a beta of 0.71. The firm has a 50 day simple moving average of $10.83 and a 200-day simple moving average of $8.54. Travere Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $15.36.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The business had revenue of $54.12 million during the quarter, compared to analyst estimates of $49.50 million. Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. On average, equities analysts expect that Travere Therapeutics, Inc. will post -3.95 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Guggenheim lowered their price target on Travere Therapeutics from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, September 27th. JPMorgan Chase & Co. upped their target price on Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Citigroup cut their price target on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Wedbush increased their price objective on shares of Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Piper Sandler lifted their target price on shares of Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.09.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 750,686 shares during the last quarter. Millennium Management LLC raised its holdings in Travere Therapeutics by 33.9% in the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after acquiring an additional 747,406 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Travere Therapeutics by 912.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock valued at $18,200,000 after acquiring an additional 1,995,419 shares during the last quarter. Kynam Capital Management LP raised its holdings in Travere Therapeutics by 105.6% in the 4th quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock valued at $17,980,000 after acquiring an additional 1,027,398 shares during the last quarter. Finally, Parkman Healthcare Partners LLC raised its holdings in Travere Therapeutics by 76.4% in the 4th quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock valued at $9,159,000 after acquiring an additional 441,318 shares during the last quarter.

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.