Insider Selling: Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Sells 16,000 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTXGet Free Report) Director Roy D. Baynes sold 16,000 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $20.00, for a total value of $320,000.00. Following the transaction, the director now directly owns 31,000 shares in the company, valued at approximately $620,000. The trade was a 34.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Travere Therapeutics Trading Down 2.4 %

Shares of TVTX stock opened at $20.31 on Friday. The business’s fifty day moving average price is $18.33 and its 200 day moving average price is $14.87. The firm has a market capitalization of $1.59 billion, a PE ratio of -4.46 and a beta of 0.70. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. Travere Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $21.56.

Travere Therapeutics (NASDAQ:TVTXGet Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.01. The business 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 business’s revenue was up 69.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.17) EPS. As a group, sell-side analysts forecast that Travere Therapeutics, Inc. will post -3.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TVTX shares. Scotiabank raised their price target 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. Cantor Fitzgerald initiated coverage on shares of Travere Therapeutics in a research report on Friday, January 10th. They set an “overweight” rating on the stock. Bank of America increased their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Piper Sandler raised their price objective on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, Barclays upped their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Get Our Latest Report on Travere Therapeutics

Institutional Investors Weigh In On Travere Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. R Squared Ltd acquired a new stake in shares of Travere Therapeutics in the 4th quarter worth approximately $53,000. CWM LLC boosted its position 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 purchasing an additional 3,065 shares in the last quarter. DRW Securities LLC acquired a new stake in Travere Therapeutics in the second quarter valued at $95,000. Quarry LP purchased a new position in shares of Travere Therapeutics in the third quarter valued at $105,000. Finally, Forefront Analytics LLC raised its stake in shares of Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after buying an additional 1,237 shares during the last quarter.

Travere Therapeutics Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Travere Therapeutics (NASDAQ:TVTX)

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