Travere Therapeutics (NASDAQ:TVTX) Posts Earnings Results, Misses Estimates By $0.15 EPS

Travere Therapeutics (NASDAQ:TVTX) released its quarterly earnings results on Thursday. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15), Zacks reports. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The firm had revenue of $74.79 million for the quarter, compared to the consensus estimate of $72.38 million.

Travere Therapeutics Stock Down 6.8 %

Shares of TVTX opened at $21.98 on Friday. The firm has a 50 day moving average price of $19.68 and a 200-day moving average price of $16.57. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $25.29. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CAO Sandra Calvin sold 54,244 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the completion of the sale, the chief accounting officer now directly owns 54,410 shares in the company, valued at approximately $1,360,250. This trade represents a 49.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP William E. Rote sold 2,437 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total transaction of $47,424.02. Following the sale, the senior vice president now owns 83,170 shares of the company’s stock, valued at approximately $1,618,488.20. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 218,425 shares of company stock worth $4,674,259 in the last three months. 3.75% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TVTX has been the topic of a number of recent analyst reports. Evercore ISI raised their price target on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Canaccord Genuity Group raised their price objective on shares of Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Scotiabank raised their price objective on shares of Travere Therapeutics from $27.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Wednesday, February 12th. 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 report on Thursday, November 14th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Travere Therapeutics in a report on Friday. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Travere Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $27.77.

Travere Therapeutics Company Profile

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.