Travere Therapeutics (NASDAQ:TVTX) Shares Down 3.4% – Here’s Why

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s share price dropped 3.4% during mid-day trading on Monday . The stock traded as low as $18.27 and last traded at $18.56. Approximately 118,042 shares were traded during trading, a decline of 91% from the average daily volume of 1,383,138 shares. The stock had previously closed at $19.22.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Scotiabank increased their target price on 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 increased their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company upgraded Travere Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $9.00 to $27.00 in a research note on Monday, October 21st. Citigroup lowered their price target on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.62.

Travere Therapeutics Stock Down 3.3 %

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 business’s fifty day moving average price is $17.66 and its 200 day moving average price is $12.32. The firm has a market capitalization of $1.45 billion, a PE ratio of -3.98 and a beta of 0.69.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, beating 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 the consensus estimate of $60.87 million. During the same period in the prior year, the business earned ($1.17) EPS. The firm’s revenue was up 69.6% compared to the same quarter last year. On average, equities research analysts forecast that Travere Therapeutics, Inc. will post -3.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, Director Jeffrey A. Meckler sold 40,000 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $14.06, for a total value of $562,400.00. Following the transaction, the director now directly owns 81,000 shares in the company, valued at approximately $1,138,860. This trade represents a 33.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sandra Calvin sold 12,090 shares of Travere Therapeutics stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $18.30, for a total value of $221,247.00. Following the completion of the transaction, the chief accounting officer now owns 54,927 shares in the company, valued at $1,005,164.10. This trade represents a 18.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,090 shares of company stock worth $1,372,847. 4.06% of the stock is currently owned by insiders.

Institutional Trading of Travere Therapeutics

Several hedge funds have recently modified their holdings of TVTX. CWM LLC lifted its holdings in shares of Travere Therapeutics by 158.5% in the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after buying an additional 3,065 shares during the period. DRW Securities LLC acquired a new stake in shares of Travere Therapeutics in the 2nd quarter valued at approximately $95,000. Quarry LP purchased a new stake in Travere Therapeutics during the third quarter worth $105,000. Forefront Analytics LLC grew its holdings in Travere Therapeutics by 10.2% in the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after purchasing an additional 1,237 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in Travere Therapeutics in the second quarter valued at $117,000.

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.