Travere Therapeutics, Inc. (NASDAQ:TVTX) SVP Sells $47,424.02 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) SVP William E. Rote sold 2,437 shares of the business’s 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 of the company’s stock, valued at approximately $1,618,488.20. The trade was a 2.85 % 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.

Travere Therapeutics Stock Performance

NASDAQ TVTX traded up $1.35 on Thursday, hitting $20.81. 2,031,403 shares of the company traded hands, compared to its average volume of 1,331,242. The business’s 50 day moving average price is $18.28 and its 200-day moving average price is $14.79. Travere Therapeutics, Inc. has a 52-week low of $5.12 and a 52-week high of $20.89. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -4.57 and a beta of 0.70.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.01. The company had revenue of $62.90 million during the quarter, compared to the consensus estimate of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The firm’s revenue was up 69.6% on a year-over-year basis. During the same period in the previous year, the company posted ($1.17) EPS. Equities analysts expect that Travere Therapeutics, Inc. will post -3.92 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Barclays boosted their price target on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Guggenheim upped their target price on shares of Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup reduced their price target on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $9.00 to $27.00 in a research report on Monday, October 21st. Finally, Canaccord Genuity Group dropped their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.00.

Hedge Funds Weigh In On Travere Therapeutics

Large investors have recently made changes to their positions in the business. Federated Hermes Inc. bought a new stake in Travere Therapeutics during the 2nd quarter valued at approximately $343,000. XTX Topco Ltd grew its holdings in Travere Therapeutics by 110.5% during the 2nd quarter. XTX Topco Ltd now owns 54,262 shares of the company’s stock valued at $446,000 after buying an additional 28,480 shares in the last quarter. Sei Investments Co. purchased a new stake in Travere Therapeutics during the 2nd quarter valued at approximately $117,000. DRW Securities LLC purchased a new position in shares of Travere Therapeutics in the second quarter worth $95,000. Finally, Bank of Montreal Can bought a new position in shares of Travere Therapeutics during the second quarter worth $625,000.

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.