Travere Therapeutics, Inc. (NASDAQ:TVTX) SVP Sells $47,424.02 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) SVP William E. Rote sold 2,437 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total transaction of $47,424.02. Following the completion of the sale, the senior vice president now directly owns 83,170 shares of the company’s stock, valued at approximately $1,618,488.20. This represents a 2.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Travere Therapeutics Stock Down 2.4 %

TVTX stock opened at $20.31 on Friday. Travere Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $21.56. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The business’s 50-day moving average price is $18.33 and its two-hundred day moving average price is $14.87.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data 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 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 analysts’ expectations of $60.87 million. During the same quarter in the previous year, the business posted ($1.17) EPS. Travere Therapeutics’s revenue for the quarter was up 69.6% on a year-over-year basis. On average, research analysts expect that Travere Therapeutics, Inc. will post -3.92 earnings per share for the current year.

Analyst Ratings Changes

TVTX has been the subject of several research reports. Scotiabank lifted their target price on Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. HC Wainwright boosted their price objective on Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Canaccord Genuity Group reduced their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Leerink Partners reissued an “outperform” rating and set a $20.00 price target on shares of Travere Therapeutics in a research note on Tuesday, October 8th. Finally, Barclays raised their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Institutional Investors Weigh In On Travere Therapeutics

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

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.