Travere Therapeutics (NASDAQ:TVTX) Shares Gap Down – What’s Next?

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $17.75, but opened at $16.80. Travere Therapeutics shares last traded at $17.88, with a volume of 92,239 shares changing hands.

Wall Street Analyst Weigh In

TVTX has been the subject of several recent analyst reports. Wells Fargo & Company raised shares of 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 research report on Monday, October 21st. Scotiabank assumed coverage on Travere Therapeutics in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $23.00 price objective for the company. Leerink Partners reissued an “outperform” rating and issued a $20.00 price objective on shares of Travere Therapeutics in a research report on Tuesday, October 8th. HC Wainwright reduced their target price on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Finally, Canaccord Genuity Group decreased their price target on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Travere Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $21.38.

Travere Therapeutics Price Performance

The firm has a market capitalization of $1.38 billion, a PE ratio of -9.44 and a beta of 0.73. The firm’s fifty day moving average price is $14.18 and its 200 day moving average price is $9.96. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The business had revenue of $54.12 million during the quarter, compared to analysts’ expectations of $49.50 million. Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. As a group, equities analysts forecast that Travere Therapeutics, Inc. will post -3.95 earnings per share for the current year.

Insider Activity

In related news, CEO Eric M. Dube sold 21,125 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $243,360.00. Following the sale, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Eric M. Dube sold 21,125 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the sale, the chief executive officer now owns 361,975 shares of the company’s stock, valued at $4,169,952. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Christopher R. Cline sold 2,490 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $28,684.80. Following the transaction, the chief financial officer now directly owns 74,595 shares of the company’s stock, valued at approximately $859,334.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,707 shares of company stock valued at $1,504,312 in the last quarter. 4.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Travere Therapeutics

Several hedge funds have recently modified their holdings of the company. EntryPoint Capital LLC acquired a new stake in Travere Therapeutics in the first quarter valued at approximately $32,000. CWM LLC grew its stake in 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 acquiring an additional 3,065 shares during the period. DRW Securities LLC purchased a new stake in Travere Therapeutics in the 2nd quarter worth $95,000. Forefront Analytics LLC raised its position in Travere Therapeutics by 10.2% during the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after acquiring an additional 1,237 shares during the period. Finally, Sei Investments Co. purchased a new position in Travere Therapeutics during 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.