Travere Therapeutics, Inc. (NASDAQ:TVTX) Insider Sells $30,000.96 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Peter Heerma sold 1,584 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total transaction of $30,000.96. Following the transaction, the insider now directly owns 106,374 shares of the company’s stock, valued at approximately $2,014,723.56. This trade represents a 1.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Travere Therapeutics Trading Up 6.9 %

NASDAQ TVTX opened at $20.81 on Friday. Travere Therapeutics, Inc. has a 52 week low of $5.12 and a 52 week high of $20.89. The firm has a 50 day moving average of $18.28 and a two-hundred day moving average of $14.79. 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 stock has a market capitalization of $1.62 billion, a PE ratio of -4.57 and a beta of 0.70.

Travere Therapeutics (NASDAQ:TVTX) last issued its 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 firm had revenue of $62.90 million during the quarter, compared to the consensus estimate of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The company’s revenue was up 69.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.17) earnings per share. As a group, research analysts expect that Travere Therapeutics, Inc. will post -3.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Baader Bank Aktiengesellschaft purchased a new stake in Travere Therapeutics during the fourth quarter worth approximately $192,000. R Squared Ltd purchased a new stake in shares of Travere Therapeutics during the 4th quarter worth approximately $53,000. Diversified Trust Co boosted its holdings in shares of Travere Therapeutics by 27.5% in the 4th quarter. Diversified Trust Co now owns 14,701 shares of the company’s stock valued at $256,000 after buying an additional 3,169 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Travere Therapeutics in the 3rd quarter valued at $301,000. Finally, Geode Capital Management LLC grew its position in shares of Travere Therapeutics by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock valued at $24,222,000 after buying an additional 64,744 shares during the last quarter.

Wall Street Analysts Forecast Growth

TVTX has been the subject of a number of research analyst reports. HC Wainwright increased their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Piper Sandler lifted their price objective on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Scotiabank increased their target price on Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. Leerink Partners restated an “outperform” rating and set a $20.00 target price on shares of Travere Therapeutics in a report on Tuesday, October 8th. Finally, Wedbush boosted their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.