Travere Therapeutics (NASDAQ:TVTX) Director Sells $630,540.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Timothy Coughlin sold 18,000 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $35.03, for a total transaction of $630,540.00. Following the sale, the director directly owned 55,500 shares of the company’s stock, valued at $1,944,165. This represents a 24.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Travere Therapeutics Price Performance

Shares of NASDAQ TVTX opened at $33.30 on Friday. The company has a fifty day moving average price of $25.81 and a 200 day moving average price of $19.87. The firm has a market cap of $2.98 billion, a PE ratio of -16.32 and a beta of 0.90. The company has a current ratio of 2.00, a quick ratio of 1.98 and a debt-to-equity ratio of 9.50. Travere Therapeutics, Inc. has a 1-year low of $12.91 and a 1-year high of $36.15.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.59. The company had revenue of $113.15 million for the quarter, compared to analyst estimates of $106.09 million. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The company’s quarterly revenue was up 162.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.70) earnings per share. Research analysts predict that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TVTX. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, October 8th. Stifel Nicolaus raised their price objective on Travere Therapeutics from $20.00 to $25.00 and gave the company a “hold” rating in a report on Friday, September 12th. Jefferies Financial Group set a $35.00 target price on Travere Therapeutics in a research report on Wednesday, September 10th. Zacks Research raised Travere Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Finally, Cowen restated a “buy” rating on shares of Travere Therapeutics in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.71.

Institutional Trading of Travere Therapeutics

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new position in shares of Travere Therapeutics during the 2nd quarter worth approximately $33,000. First Horizon Corp acquired a new stake in Travere Therapeutics during the 3rd quarter valued at $36,000. Caitong International Asset Management Co. Ltd bought a new position in Travere Therapeutics during the first quarter worth $62,000. Headlands Technologies LLC acquired a new position in shares of Travere Therapeutics in the second quarter valued at $73,000. Finally, KBC Group NV bought a new position in shares of Travere Therapeutics in the first quarter valued at about $75,000.

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.