Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Sells $320,000.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Roy D. Baynes sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $20.00, for a total transaction of $320,000.00. Following the completion of the sale, the director now directly owns 31,000 shares in the company, valued at $620,000. This represents a 34.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $20.81 on Friday. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. Travere Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $20.89. The business has a 50 day moving average price of $18.28 and a 200-day moving average price of $14.79.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The business had revenue of $62.90 million during the quarter, compared to analysts’ expectations of $60.87 million. During the same quarter in the prior year, the company posted ($1.17) EPS. The firm’s revenue for the quarter was up 69.6% compared to the same quarter last year. Equities analysts forecast 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 recently commented on TVTX shares. Wells Fargo & Company raised shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $9.00 to $27.00 in a report on Monday, October 21st. Piper Sandler increased their target price on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Canaccord Genuity Group dropped their price target on 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 increased their price objective on Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Cantor Fitzgerald started coverage on Travere Therapeutics in a research report on Friday, January 10th. They issued an “overweight” rating for the company. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Travere Therapeutics has an average rating of “Moderate Buy” and an average price target of $24.00.

Institutional Trading of Travere Therapeutics

Several large investors have recently modified their holdings of the business. Aigen Investment Management LP purchased a new stake in Travere Therapeutics in the 3rd quarter worth approximately $170,000. Oppenheimer & Co. Inc. bought a new position in shares of Travere Therapeutics during the third quarter valued at approximately $673,000. Millennium Management LLC lifted its stake in Travere Therapeutics by 33.9% in the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after acquiring an additional 747,406 shares during the period. FMR LLC boosted its holdings in 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 acquiring an additional 31,772 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in Travere Therapeutics by 30.2% during the 3rd quarter. Two Sigma Advisers LP now owns 720,400 shares of the company’s stock valued at $10,078,000 after purchasing an additional 167,100 shares during the period.

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.