Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Sells $16,383.10 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Christopher R. Cline sold 865 shares of Travere Therapeutics stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total transaction of $16,383.10. Following the transaction, the chief financial officer now directly owns 73,730 shares in the company, valued at $1,396,446.20. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Travere Therapeutics Price Performance

TVTX traded up $1.35 on Thursday, hitting $20.81. 2,031,403 shares of the stock were exchanged, compared to its average volume of 1,331,242. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $20.89. The business has a 50-day moving average of $18.28 and a two-hundred day moving average of $14.79. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -4.57 and a beta of 0.70.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data 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 net margin of 172.75% and a negative return on equity of 537.74%. The business had revenue of $62.90 million during the quarter, compared to analysts’ expectations of $60.87 million. During the same quarter in the prior year, the business posted ($1.17) earnings per share. Travere Therapeutics’s revenue was up 69.6% compared to the same quarter last year. Sell-side analysts forecast that Travere Therapeutics, Inc. will post -3.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TVTX. Wells Fargo & Company raised shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $9.00 to $27.00 in a research note on Monday, October 21st. Cantor Fitzgerald began coverage on shares of Travere Therapeutics in a report on Friday, January 10th. They set an “overweight” rating on the stock. Scotiabank raised their target price on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. HC Wainwright raised their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Finally, Canaccord Genuity Group dropped their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Travere Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Institutional Investors Weigh In On Travere Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Creative Planning lifted its position in Travere Therapeutics by 4.3% during the third quarter. Creative Planning now owns 23,938 shares of the company’s stock worth $335,000 after purchasing an additional 995 shares during the period. Forefront Analytics LLC raised its stake 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 in the last quarter. R Squared Ltd acquired a new position in Travere Therapeutics during the fourth quarter worth about $53,000. CWM LLC raised its stake in Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after acquiring an additional 3,065 shares in the last quarter. Finally, Diversified Trust Co raised its stake in Travere Therapeutics by 27.5% during the fourth quarter. Diversified Trust Co now owns 14,701 shares of the company’s stock worth $256,000 after acquiring an additional 3,169 shares in the last quarter.

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.