Travere Therapeutics, Inc. (NASDAQ:TVTX) CAO Sells $221,247.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CAO Sandra Calvin sold 12,090 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $18.30, for a total transaction of $221,247.00. Following the transaction, the chief accounting officer now directly owns 54,927 shares in the company, valued at $1,005,164.10. This represents a 18.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Travere Therapeutics Trading Down 1.9 %

NASDAQ TVTX opened at $18.70 on Thursday. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $20.33. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -4.16 and a beta of 0.70. The business’s fifty day moving average is $16.95 and its 200 day moving average is $11.61.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.01. The firm had revenue of $62.90 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 69.6% on a year-over-year basis. During the same period last year, the firm posted ($1.17) earnings per share. As a group, sell-side analysts expect that Travere Therapeutics, Inc. will post -3.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TVTX shares. Bank of America increased their price target on Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price target on Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Barclays increased their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. HC Wainwright decreased their target price on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Finally, Canaccord Genuity Group reduced 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 report on Monday, September 30th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Travere Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $22.62.

Hedge Funds Weigh In On Travere Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Travere Therapeutics by 13.6% in the first quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock worth $48,310,000 after purchasing an additional 750,686 shares during the last quarter. Millennium Management LLC lifted its holdings in Travere Therapeutics by 33.9% during the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after buying an additional 747,406 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Travere Therapeutics by 912.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock valued at $18,200,000 after buying an additional 1,995,419 shares during the last quarter. Emerald Advisers LLC increased its stake in shares of Travere Therapeutics by 19.8% in the third quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock valued at $27,430,000 after buying an additional 323,513 shares during the period. Finally, Finepoint Capital LP raised its position in shares of Travere Therapeutics by 0.3% during the third quarter. Finepoint Capital LP now owns 1,782,267 shares of the company’s stock worth $24,934,000 after acquiring an additional 5,539 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.