Travere Therapeutics (NASDAQ:TVTX) Releases Quarterly Earnings Results, Misses Estimates By $0.21 EPS

Travere Therapeutics (NASDAQ:TVTX) released its quarterly earnings data on Monday. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.21), FiscalAI reports. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%. The firm had revenue of $224.56 million for the quarter, compared to analyst estimates of $195.29 million.

Travere Therapeutics Stock Performance

Travere Therapeutics stock traded down $1.13 during trading hours on Monday, hitting $49.26. The company had a trading volume of 2,761,343 shares, compared to its average volume of 2,009,096. The firm has a market cap of $4.64 billion, a PE ratio of -107.08 and a beta of 1.11. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.99. Travere Therapeutics has a one year low of $22.59 and a one year high of $68.73. The firm has a 50-day moving average of $59.06 and a 200 day moving average of $46.46.

Insider Activity at Travere Therapeutics

In other news, CEO Eric Dube sold 243,735 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $53.82, for a total value of $13,117,817.70. Following the transaction, the chief executive officer owned 432,886 shares of the company’s stock, valued at approximately $23,297,924.52. This represents a 36.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Reed sold 37,500 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $62.34, for a total value of $2,337,750.00. Following the transaction, the insider owned 105,389 shares in the company, valued at $6,569,950.26. The trade was a 26.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,294,029 shares of company stock valued at $79,454,261. Insiders own 4.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Piper Sandler reiterated an “overweight” rating on shares of Travere Therapeutics in a report on Monday, August 17th. HC Wainwright reaffirmed a “buy” rating and issued a $67.00 price objective on shares of Travere Therapeutics in a research report on Tuesday, September 22nd. TD Cowen lifted their target price on Travere Therapeutics from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Wedbush reissued an “outperform” rating and set a $76.00 target price on shares of Travere Therapeutics in a report on Tuesday, September 22nd. Finally, Canaccord Genuity Group boosted their target price on Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Ten analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.50.

About Travere Therapeutics

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare diseases, with an emphasis on serious kidney conditions. The company’s work centers on addressing diseases with limited treatment options and improving outcomes for patients with progressive renal disorders.

Travere’s lead commercial product is FILSPARI (sparsentan), an oral treatment for adults with primary immunoglobulin A nephropathy (IgA nephropathy) who are at risk of disease progression.