Peter Heerma Sells 1,584 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) 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 sale, the insider now owns 106,374 shares in the company, valued at $2,014,723.56. The trade was a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Travere Therapeutics Stock Performance

Shares of NASDAQ:TVTX opened at $20.31 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a 52 week low of $5.12 and a 52 week high of $21.56. The firm’s fifty day moving average is $18.33 and its 200-day moving average is $14.87.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.01. The firm had revenue of $62.90 million for the quarter, compared to the consensus estimate of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The business’s quarterly revenue was up 69.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.17) EPS. Research analysts forecast that Travere Therapeutics, Inc. will post -3.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors have recently modified their holdings of the company. Creative Planning raised its stake 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 buying an additional 995 shares during the last quarter. Forefront Analytics LLC grew its holdings in 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 acquiring an additional 1,237 shares during the period. R Squared Ltd bought a new position in shares of Travere Therapeutics in the 4th quarter worth about $53,000. CWM LLC lifted its stake in shares of Travere Therapeutics by 158.5% in the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after purchasing an additional 3,065 shares during the period. Finally, Diversified Trust Co boosted its position in shares of Travere Therapeutics by 27.5% during 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 in the last quarter.

Analysts Set New Price Targets

TVTX has been the subject of several recent analyst reports. Citigroup cut their target price on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Cantor Fitzgerald assumed coverage on Travere Therapeutics in a research note on Friday, January 10th. They issued an “overweight” rating on the stock. Wedbush boosted their target price on Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Bank of America raised their price target 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. Finally, Scotiabank upped their price objective on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.