Insider Selling: Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Sells 16,000 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Roy D. Baynes sold 16,000 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $20.00, for a total transaction of $320,000.00. Following the completion of the sale, the director now directly owns 31,000 shares of the company’s stock, valued at approximately $620,000. This trade represents a 34.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Travere Therapeutics Trading Down 2.4 %

TVTX opened at $20.31 on Friday. 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 stock has a market capitalization of $1.59 billion, a PE ratio of -4.46 and a beta of 0.70. Travere Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $21.56. The firm has a 50-day moving average price of $18.33 and a two-hundred day moving average price of $14.91.

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

Institutional Investors Weigh In On Travere Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new position in shares of Travere Therapeutics in the 4th quarter valued at about $53,000. CWM LLC boosted its stake in Travere Therapeutics by 158.5% during the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after acquiring an additional 3,065 shares during the last quarter. DRW Securities LLC bought a new position in Travere Therapeutics during the 2nd quarter worth approximately $95,000. Quarry LP bought a new position in Travere Therapeutics during the 3rd quarter worth approximately $105,000. Finally, Forefront Analytics LLC boosted its stake in Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after acquiring an additional 1,237 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TVTX shares. Guggenheim increased their price target on shares of Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Leerink Partners restated an “outperform” rating and issued a $20.00 price objective on shares of Travere Therapeutics in a research note on Tuesday, October 8th. 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 note on Monday, October 21st. Cantor Fitzgerald began coverage on shares of Travere Therapeutics in a research note on Friday, January 10th. They issued an “overweight” rating for the company. Finally, HC Wainwright increased their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

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.