Travere Therapeutics Target of Unusually Large Options Trading (NASDAQ:TVTX)

Travere Therapeutics, Inc. (NASDAQ:TVTX) was the target of unusually large options trading on Monday. Investors acquired 4,027 call options on the company. This represents an increase of 300% compared to the typical daily volume of 1,006 call options.

Institutional Trading of Travere Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. boosted its position in shares of Travere Therapeutics by 0.3% in the second quarter. Prudential Financial Inc. now owns 244,256 shares of the company’s stock worth $3,615,000 after buying an additional 615 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Travere Therapeutics by 3.5% in the second quarter. Teacher Retirement System of Texas now owns 22,688 shares of the company’s stock worth $336,000 after buying an additional 773 shares during the period. Arizona State Retirement System boosted its position in shares of Travere Therapeutics by 4.3% in the first quarter. Arizona State Retirement System now owns 23,364 shares of the company’s stock worth $419,000 after buying an additional 968 shares during the period. E Fund Management Co. Ltd. boosted its position in shares of Travere Therapeutics by 8.6% in the first quarter. E Fund Management Co. Ltd. now owns 13,553 shares of the company’s stock worth $243,000 after buying an additional 1,072 shares during the period. Finally, Sio Capital Management LLC boosted its position in shares of Travere Therapeutics by 1.0% in the second quarter. Sio Capital Management LLC now owns 122,210 shares of the company’s stock worth $1,809,000 after buying an additional 1,210 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TVTX. Scotiabank reiterated an “outperform” rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. Wedbush increased their price target on Travere Therapeutics from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Wall Street Zen upgraded Travere Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday, September 1st. Citigroup reiterated a “buy” rating on shares of Travere Therapeutics in a research report on Sunday, August 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a research report on Wednesday, September 3rd. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.43.

Travere Therapeutics Stock Up 2.1%

TVTX opened at $21.64 on Wednesday. Travere Therapeutics has a 12 month low of $11.89 and a 12 month high of $25.29. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98. The stock has a market cap of $1.93 billion, a P/E ratio of -10.61 and a beta of 0.79. The stock’s 50 day moving average price is $17.10 and its 200 day moving average price is $17.29.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Wednesday, August 6th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.14. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The firm had revenue of $94.84 million for the quarter, compared to analysts’ expectations of $100.18 million. During the same period last year, the firm earned ($0.65) EPS. The firm’s revenue was up 111.5% compared to the same quarter last year. As a group, research analysts predict that Travere Therapeutics will post -1.4 earnings per share for the current year.

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.