Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Sells $208,922.56 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric M. Dube sold 10,736 shares of Travere Therapeutics stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total transaction of $208,922.56. Following the completion of the transaction, the chief executive officer now owns 351,239 shares of the company’s stock, valued at $6,835,110.94. The trade was a 2.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Travere Therapeutics Trading Down 2.4 %

TVTX stock opened at $20.31 on Friday. The company 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 one year low of $5.12 and a one year high of $21.56. The company’s 50 day moving average price is $18.33 and its two-hundred day moving average price is $14.91. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping the consensus estimate 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 company had revenue of $62.90 million for the quarter, compared to the consensus estimate of $60.87 million. During the same period in the previous year, the firm earned ($1.17) earnings per share. The firm’s revenue for the quarter was up 69.6% on a year-over-year basis. As a group, analysts predict that Travere Therapeutics, Inc. will post -3.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TVTX shares. Barclays raised their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Scotiabank raised their price objective on shares of Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $9.00 to $27.00 in a research report on Monday, October 21st. HC Wainwright lifted their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Finally, Cantor Fitzgerald assumed coverage on shares of Travere Therapeutics in a research report on Friday, January 10th. They set an “overweight” rating for the company. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Travere Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TVTX. Federated Hermes Inc. purchased a new position in shares of Travere Therapeutics in the second quarter worth $343,000. XTX Topco Ltd increased its position 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 purchasing an additional 28,480 shares during the period. Sei Investments Co. purchased a new position in Travere Therapeutics during the 2nd quarter valued at $117,000. DRW Securities LLC purchased a new position in Travere Therapeutics during the 2nd quarter valued at $95,000. Finally, Bank of Montreal Can purchased a new position in Travere Therapeutics during the 2nd quarter valued at $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.