Travere Therapeutics (NASDAQ:TVTX) Trading Down 4.3% – Should You Sell?

Travere Therapeutics, Inc. (NASDAQ:TVTX) shares dropped 4.3% during trading on Wednesday . The company traded as low as $20.50 and last traded at $20.20. Approximately 232,515 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 1,234,086 shares. The stock had previously closed at $21.10.

Analysts Set New Price Targets

Several research analysts recently weighed in on TVTX shares. Barclays raised their target price on Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Wedbush boosted their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Leerink Partners reiterated an “outperform” rating and issued a $20.00 price target on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. Finally, Piper Sandler boosted their price target on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Travere Therapeutics Trading Down 4.2 %

The firm has a market cap of $1.58 billion, a P/E ratio of -4.45 and a beta of 0.70. The company has a 50 day moving average of $18.46 and a 200 day moving average of $15.10. 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 posted its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.01. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The firm had revenue of $62.90 million during the quarter, compared to analyst estimates of $60.87 million. During the same period in the previous year, the company earned ($1.17) EPS. The company’s revenue for the quarter was up 69.6% on a year-over-year basis. Analysts predict that Travere Therapeutics, Inc. will post -3.92 EPS for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other news, CAO Sandra Calvin sold 12,090 shares of Travere Therapeutics stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $18.30, for a total transaction of $221,247.00. Following the sale, the chief accounting officer now directly owns 54,927 shares in the company, valued at approximately $1,005,164.10. The trade was a 18.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter Heerma sold 1,584 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total value of $30,000.96. Following the transaction, the insider now owns 106,374 shares of the company’s stock, valued at $2,014,723.56. This trade represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,143 shares of company stock worth $1,167,512 over the last three months. 3.75% of the stock is currently owned by insiders.

Institutional Trading of Travere Therapeutics

Hedge funds have recently modified their holdings of the company. Sei Investments Co. acquired a new position in Travere Therapeutics in the second quarter worth $117,000. Bank of Montreal Can bought a new position in shares of Travere Therapeutics in the second quarter worth about $625,000. AQR Capital Management LLC lifted its position in shares of Travere Therapeutics by 55.7% during the second quarter. AQR Capital Management LLC now owns 74,069 shares of the company’s stock worth $609,000 after purchasing an additional 26,485 shares in the last quarter. Millennium Management LLC grew its stake in shares of Travere Therapeutics by 33.9% during the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after purchasing an additional 747,406 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Travere Therapeutics in the second quarter valued at approximately $291,000.

Travere Therapeutics Company Profile

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.