Christopher R. Cline Sells 2,490 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Christopher R. Cline sold 2,490 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $28,684.80. Following the completion of the transaction, the chief financial officer now owns 74,595 shares in the company, valued at $859,334.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Travere Therapeutics Stock Up 17.1 %

TVTX stock traded up $1.88 during midday trading on Monday, hitting $12.86. The stock had a trading volume of 4,209,742 shares, compared to its average volume of 1,242,490. The business has a 50-day moving average of $9.30 and a two-hundred day moving average of $7.86. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. The firm has a market cap of $979.02 million, a price-to-earnings ratio of -6.12 and a beta of 0.71. Travere Therapeutics, Inc. has a 52-week low of $5.12 and a 52-week high of $14.62.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. The business had revenue of $54.12 million for the quarter, compared to the consensus estimate of $49.50 million. As a group, equities research analysts forecast that Travere Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC bought a new position in Travere Therapeutics in the first quarter valued at about $32,000. DRW Securities LLC purchased a new stake in shares of Travere Therapeutics during the 2nd quarter valued at about $95,000. Forefront Analytics LLC lifted its stake in shares of 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. Sei Investments Co. purchased a new position in shares of Travere Therapeutics in the second quarter worth approximately $117,000. Finally, Quest Partners LLC grew its position in Travere Therapeutics by 240.6% during the second quarter. Quest Partners LLC now owns 14,336 shares of the company’s stock valued at $118,000 after buying an additional 10,127 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wedbush boosted their price target on shares of Travere Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Bank of America lifted their price target on Travere Therapeutics from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on Travere Therapeutics from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Guggenheim upgraded Travere Therapeutics from a “neutral” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Monday. Finally, Barclays increased their price target on shares of Travere Therapeutics from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.92.

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.