Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Roy D. Baynes Sells 16,000 Shares

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Roy D. Baynes sold 16,000 shares of Travere Therapeutics stock in a transaction that occurred on Thursday, January 23rd. The shares were 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 Securities & Exchange Commission, which is available through this link.

Travere Therapeutics Stock Up 6.9 %

Shares of TVTX opened at $20.81 on Friday. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $20.89. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The stock’s fifty day moving average price is $18.28 and its two-hundred day moving average price is $14.79.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.01. The business had revenue of $62.90 million for 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 company’s revenue was up 69.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.17) earnings per share. As a group, equities research analysts anticipate that Travere Therapeutics, Inc. will post -3.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TVTX shares. Citigroup cut their price objective on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Canaccord Genuity Group cut their price target on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Scotiabank increased their price objective on shares of Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. Barclays lifted their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Wedbush upped their target price on Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TVTX. R Squared Ltd bought a new stake in Travere Therapeutics during the 4th quarter valued at $53,000. CWM LLC raised its stake in shares of Travere Therapeutics by 158.5% during 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. DRW Securities LLC bought a new stake in shares of Travere Therapeutics during the 2nd quarter valued at $95,000. Quarry LP purchased a new stake in Travere Therapeutics during the 3rd quarter worth about $105,000. Finally, Forefront Analytics LLC boosted its stake in Travere Therapeutics by 10.2% in the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after purchasing an additional 1,237 shares during the period.

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.