Travere Therapeutics (NASDAQ:TVTX) Announces Quarterly Earnings Results

Travere Therapeutics (NASDAQ:TVTX) released its quarterly earnings data on Thursday. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.01, Briefing.com reports. Travere Therapeutics had a negative return on equity of 360.96% and a negative net margin of 172.75%. The business had revenue of $62.90 million during the quarter, compared to analysts’ expectations of $60.87 million. During the same quarter last year, the business posted ($1.17) EPS. The business’s revenue was up 69.6% on a year-over-year basis.

Travere Therapeutics Stock Up 0.4 %

TVTX stock opened at $17.57 on Friday. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $19.25. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96. The firm has a market cap of $1.34 billion, a PE ratio of -3.86 and a beta of 0.70. The business has a 50 day moving average of $14.53 and a 200 day moving average of $10.09.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Citigroup dropped their price objective on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 27th. Canaccord Genuity Group dropped their price objective on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a report on Monday, September 30th. Bank of America raised their target price on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company upgraded Travere Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $9.00 to $27.00 in a research note on Monday, October 21st. Finally, HC Wainwright lowered their target price on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Travere Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $21.85.

Insider Activity at Travere Therapeutics

In related news, SVP William E. Rote sold 4,387 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $50,538.24. Following the completion of the transaction, the senior vice president now owns 84,455 shares of the company’s stock, valued at $972,921.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Travere Therapeutics news, insider Jula Inrig sold 2,191 shares of Travere Therapeutics stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $25,240.32. Following the completion of the sale, the insider now owns 62,633 shares of the company’s stock, valued at approximately $721,532.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $50,538.24. Following the completion of the sale, the senior vice president now directly owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. The trade was a 0.00 % decrease in their position. 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 90 days. Corporate insiders own 3.75% of the company’s stock.

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.