Insider Selling: Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Sells 10,736 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric M. Dube sold 10,736 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total transaction of $208,922.56. Following the completion of the sale, the chief executive officer now directly owns 351,239 shares of the company’s stock, valued at approximately $6,835,110.94. This trade represents a 2.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Travere Therapeutics Stock Up 6.9 %

Shares of TVTX stock traded up $1.35 during trading hours on Thursday, reaching $20.81. 2,031,403 shares of the company’s stock were exchanged, compared to its average volume of 1,331,242. Travere Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $20.89. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -4.57 and a beta of 0.70. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The stock’s 50 day moving average is $18.28 and its 200-day moving average is $14.79.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (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 net margin of 172.75% and a negative return on equity of 537.74%. Travere Therapeutics’s revenue for the quarter was up 69.6% compared to the same quarter last year. During the same period last year, the firm posted ($1.17) EPS. Analysts predict that Travere Therapeutics, Inc. will post -3.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TVTX. Cantor Fitzgerald assumed coverage on shares of Travere Therapeutics in a research report on Friday, January 10th. They set an “overweight” rating for the company. Bank of America raised their target price 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. Canaccord Genuity Group decreased their price target on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Leerink Partners restated an “outperform” rating and set a $20.00 price objective on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Finally, Barclays lifted their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Baader Bank Aktiengesellschaft acquired a new position in Travere Therapeutics during the fourth quarter worth about $192,000. R Squared Ltd purchased a new position in Travere Therapeutics during the fourth quarter worth about $53,000. Diversified Trust Co boosted its holdings in 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 purchasing an additional 3,169 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Travere Therapeutics in the 3rd quarter valued at approximately $301,000. Finally, Geode Capital Management LLC increased its holdings in shares of Travere Therapeutics by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock worth $24,222,000 after buying an additional 64,744 shares during 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.