Christopher R. Cline Sells 865 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Christopher R. Cline sold 865 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total transaction of $16,383.10. Following the sale, the chief financial officer now owns 73,730 shares of the company’s stock, valued at approximately $1,396,446.20. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Travere Therapeutics Price Performance

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 1 year low of $5.12 and a 1 year high of $21.56. The firm’s fifty day simple moving average is $18.33 and its 200 day simple moving average is $14.87.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The business had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. During the same period in the previous year, the company posted ($1.17) earnings per share. The firm’s revenue for the quarter was up 69.6% on a year-over-year basis. As a group, sell-side analysts expect that Travere Therapeutics, Inc. will post -3.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Travere Therapeutics

Several hedge funds have recently modified their holdings of TVTX. Aigen Investment Management LP bought a new position in Travere Therapeutics during the third quarter worth $170,000. Oppenheimer & Co. Inc. bought a new position in shares of Travere Therapeutics during the 3rd quarter worth about $673,000. Millennium Management LLC raised its position in shares of Travere Therapeutics by 33.9% during the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after buying an additional 747,406 shares during the last quarter. FMR LLC lifted its stake in shares of Travere Therapeutics by 27.5% in the third quarter. FMR LLC now owns 147,416 shares of the company’s stock valued at $2,062,000 after buying an additional 31,772 shares during the period. Finally, Two Sigma Advisers LP grew its position in Travere Therapeutics by 30.2% during the third quarter. Two Sigma Advisers LP now owns 720,400 shares of the company’s stock worth $10,078,000 after buying an additional 167,100 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Leerink Partners reissued an “outperform” rating and set a $20.00 target price on shares of Travere Therapeutics in a research note on Tuesday, October 8th. Cantor Fitzgerald initiated coverage on Travere Therapeutics in a research note on Friday, January 10th. They issued an “overweight” rating on the stock. Wedbush raised their price target on Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Citigroup lowered their price target 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. Finally, Canaccord Genuity Group cut their price objective 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. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently 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.