Travere Therapeutics (NASDAQ:TVTX) Announces Quarterly Earnings Results

Travere Therapeutics (NASDAQ:TVTX) announced its earnings results on Thursday. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01, Briefing.com reports. The company had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The firm’s quarterly revenue was up 69.6% compared to the same quarter last year. During the same quarter last year, the company earned ($1.17) earnings per share.

Travere Therapeutics Trading Down 1.4 %

NASDAQ:TVTX traded down $0.25 during trading hours on Thursday, hitting $17.50. 1,465,143 shares of the company were exchanged, compared to its average volume of 1,396,398. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -9.44 and a beta of 0.73. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a one year low of $5.12 and a one year high of $19.25. The company has a fifty day simple moving average of $14.18 and a 200 day simple moving average of $9.96.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on TVTX shares. Citigroup reduced their price target on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $9.00 to $27.00 in a report on Monday, October 21st. Canaccord Genuity Group reduced their target price on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Bank of America raised their target price on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Scotiabank started coverage on Travere Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $23.00 target price on the stock. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics has an average rating of “Moderate Buy” and an average price target of $21.38.

Insider Buying and Selling

In related news, CEO Eric M. Dube sold 21,125 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $243,360.00. Following the completion of the transaction, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $243,360.00. Following the completion of the transaction, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jula Inrig sold 2,191 shares of Travere Therapeutics stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $25,240.32. Following the completion of the transaction, the insider now directly owns 62,633 shares of the company’s stock, valued at approximately $721,532.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,707 shares of company stock valued at $1,504,312 in the last three months. Insiders own 4.06% of the company’s stock.

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.