Travere Therapeutics, Inc. (NASDAQ:TVTX) Insider Sells $30,000.96 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Peter Heerma sold 1,584 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 $30,000.96. Following the sale, the insider now owns 106,374 shares of the company’s stock, 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 SEC, which can be accessed through the SEC website.

Travere Therapeutics Stock Up 6.9 %

Shares of NASDAQ:TVTX traded up $1.35 during trading on Thursday, reaching $20.81. 2,031,403 shares of the company traded hands, compared to its average volume of 1,331,242. Travere Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $20.89. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The firm has a market cap of $1.62 billion, a P/E ratio of -4.57 and a beta of 0.70. The firm has a fifty day simple moving average of $18.28 and a 200 day simple moving average of $14.79.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $62.90 million during the quarter, compared to analysts’ expectations of $60.87 million. During the same quarter last year, the firm earned ($1.17) earnings per share. The business’s revenue for the quarter was up 69.6% on a year-over-year basis. Analysts anticipate that Travere Therapeutics, Inc. will post -3.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Travere Therapeutics

Several large investors have recently made changes to their positions in the company. Millennium Management LLC raised its position in 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 acquiring an additional 747,406 shares in the last quarter. Emerald Advisers LLC raised its holdings in Travere Therapeutics by 19.8% during 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 in the last quarter. Finepoint Capital LP lifted its position in shares of Travere Therapeutics by 0.3% in the third quarter. Finepoint Capital LP now owns 1,782,267 shares of the company’s stock worth $24,934,000 after buying an additional 5,539 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Travere Therapeutics by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock worth $24,222,000 after acquiring an additional 64,744 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its stake in shares of Travere Therapeutics by 26.0% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company’s stock valued at $16,588,000 after acquiring an additional 244,444 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Leerink Partners reissued an “outperform” rating and set a $20.00 price objective on shares of Travere Therapeutics in a research note on Tuesday, October 8th. Cantor Fitzgerald initiated coverage on Travere Therapeutics in a research report on Friday, January 10th. They issued an “overweight” rating for the company. Canaccord Genuity Group reduced their price objective on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Guggenheim raised their target price on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Piper Sandler boosted their price target on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.