Travere Therapeutics (NASDAQ:TVTX) Director Roy Baynes Sells 4,500 Shares

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Roy Baynes sold 4,500 shares of Travere Therapeutics stock in a transaction on Friday, June 12th. The shares were sold at an average price of $50.00, for a total value of $225,000.00. Following the sale, the director directly owned 41,500 shares of the company’s stock, valued at approximately $2,075,000. The trade was a 9.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Price Performance

TVTX opened at $53.38 on Wednesday. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of -232.08 and a beta of 1.13. Travere Therapeutics, Inc. has a 1 year low of $13.88 and a 1 year high of $54.38. The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16. The stock has a fifty day moving average price of $42.63 and a 200 day moving average price of $35.50.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.29. The firm had revenue of $127.20 million during the quarter, compared to analysts’ expectations of $136.23 million. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The business’s revenue for the quarter was up 55.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.47) earnings per share. Analysts forecast that Travere Therapeutics, Inc. will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Travere Therapeutics

Several large investors have recently made changes to their positions in the business. Palisades Investment Partners LLC bought a new position in Travere Therapeutics during the fourth quarter valued at about $5,264,000. Hennion & Walsh Asset Management Inc. increased its stake in Travere Therapeutics by 169.6% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 99,229 shares of the company’s stock valued at $3,792,000 after acquiring an additional 62,419 shares during the period. Apis Capital Advisors LLC bought a new position in Travere Therapeutics during the third quarter valued at about $3,967,000. Assenagon Asset Management S.A. increased its stake in Travere Therapeutics by 347.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 417,742 shares of the company’s stock valued at $15,962,000 after acquiring an additional 324,387 shares during the period. Finally, Legato Capital Management LLC bought a new position in Travere Therapeutics during the third quarter valued at about $1,698,000.

Analyst Upgrades and Downgrades

TVTX has been the subject of a number of research reports. Canaccord Genuity Group lifted their price objective on Travere Therapeutics from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Wedbush reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Travere Therapeutics in a research report on Wednesday, June 3rd. TD Cowen boosted their price target on Travere Therapeutics from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Weiss Ratings raised Travere Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 21st. Finally, Guggenheim boosted their price target on Travere Therapeutics from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $50.83.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.