Insider Selling: Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Sells 16,000 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Roy D. Baynes sold 16,000 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $20.00, for a total value of $320,000.00. Following the completion of the transaction, the director now owns 31,000 shares in the company, valued at $620,000. This represents a 34.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Travere Therapeutics Stock Performance

Shares of NASDAQ:TVTX traded up $1.35 during trading on Thursday, reaching $20.81. The stock had a trading volume of 2,031,403 shares, compared to its average volume of 1,331,242. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -4.57 and a beta of 0.70. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a 52 week low of $5.12 and a 52 week high of $20.89. The stock has a fifty day simple moving average of $18.28 and a two-hundred day simple moving average of $14.79.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TVTX. R Squared Ltd bought a new position in Travere Therapeutics during the fourth quarter valued at about $53,000. CWM LLC grew its holdings in shares of Travere Therapeutics by 158.5% during the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after purchasing an additional 3,065 shares in the last quarter. Quarry LP bought a new stake in shares of Travere Therapeutics during the third quarter valued at approximately $105,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Travere Therapeutics in the fourth quarter valued at $192,000. Finally, Diversified Trust Co bought a new position in Travere Therapeutics in the third quarter worth $161,000.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TVTX shares. Bank of America upped their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup dropped their price target on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Wells Fargo & Company upgraded Travere Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $9.00 to $27.00 in a research note on Monday, October 21st. Piper Sandler raised their price target on Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, Guggenheim boosted their price target on Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

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.