Travere Therapeutics (NASDAQ:TVTX) Issues Earnings Results, Beats Estimates By $0.01 EPS

Travere Therapeutics (NASDAQ:TVTX) released its quarterly earnings results on Thursday. The company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.01, Briefing.com reports. Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The business had revenue of $62.90 million for the quarter, compared to the consensus estimate of $60.87 million. During the same quarter last year, the business posted ($1.17) earnings per share. The company’s revenue for the quarter was up 69.6% on a year-over-year basis.

Travere Therapeutics Stock Down 1.4 %

NASDAQ:TVTX traded down $0.25 during mid-day trading on Thursday, hitting $17.50. 1,465,143 shares of the company’s stock were exchanged, compared to its average volume of 1,396,398. The company has a market cap of $1.34 billion, a PE ratio of -9.44 and a beta of 0.73. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. Travere Therapeutics has a one year low of $5.12 and a one year high of $19.25. The business has a fifty day moving average price of $14.18 and a 200 day moving average price of $9.96.

Insider Buying and Selling at Travere Therapeutics

In related news, CEO Eric M. Dube sold 21,125 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $243,360.00. Following the transaction, the chief executive officer now owns 361,975 shares in the company, valued at $4,169,952. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Travere Therapeutics news, Director Jeffrey A. Meckler sold 40,000 shares of Travere Therapeutics stock in a transaction on Monday, September 30th. The stock was sold at an average price of $14.06, for a total value of $562,400.00. Following the completion of the sale, the director now owns 81,000 shares of the company’s stock, valued at approximately $1,138,860. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric M. Dube sold 21,125 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $243,360.00. Following the transaction, the chief executive officer now directly owns 361,975 shares in the company, valued at approximately $4,169,952. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,707 shares of company stock valued at $1,504,312. Corporate insiders own 4.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Barclays upped their target price on Travere Therapeutics from $14.00 to $18.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Guggenheim upped their price objective on shares of Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup decreased their target price on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. HC Wainwright cut their price target on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Finally, Scotiabank initiated coverage on Travere Therapeutics in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $23.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Travere Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $21.38.

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.