Travere Therapeutics, Inc. (NASDAQ:TVTX) SVP William E. Rote Sells 2,437 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) SVP William E. Rote sold 2,437 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total transaction of $47,424.02. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Travere Therapeutics Trading Up 6.9 %

NASDAQ TVTX opened at $20.81 on Friday. The stock’s 50 day moving average is $18.28 and its 200 day moving average is $14.79. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The firm has a market capitalization of $1.62 billion, a PE ratio of -4.57 and a beta of 0.70. Travere Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $20.89.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The firm had revenue of $62.90 million for the quarter, compared to the consensus estimate of $60.87 million. During the same period in the prior year, the firm earned ($1.17) EPS. The company’s revenue was up 69.6% compared to the same quarter last year. Research analysts forecast that Travere Therapeutics, Inc. will post -3.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TVTX has been the subject of several analyst reports. Wells Fargo & Company upgraded Travere Therapeutics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $9.00 to $27.00 in a report on Monday, October 21st. Citigroup cut their target price on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Scotiabank upped their price target on shares of Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. Bank of America raised their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Barclays increased their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Travere Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Hedge Funds Weigh In On Travere Therapeutics

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