Travere Therapeutics (NASDAQ:TVTX) Posts Earnings Results, Beats Estimates By $0.01 EPS

Travere Therapeutics (NASDAQ:TVTXGet Free Report) announced its earnings results on Thursday. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.01, Briefing.com reports. Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The firm had revenue of $62.90 million during the quarter, compared to the consensus estimate of $60.87 million. During the same quarter in the prior year, the company earned ($1.17) EPS. The firm’s revenue for the quarter was up 69.6% compared to the same quarter last year.

Travere Therapeutics Trading Down 1.4 %

NASDAQ TVTX traded down $0.25 on Thursday, reaching $17.50. The company had a trading volume of 1,465,143 shares, compared to its average volume of 1,396,398. The stock’s 50 day moving average is $14.18 and its 200-day moving average is $9.96. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -9.44 and a beta of 0.73. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $19.25.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, Director Jeffrey A. Meckler sold 40,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $14.06, for a total value of $562,400.00. Following the completion of the transaction, the director now directly owns 81,000 shares of the company’s stock, valued at approximately $1,138,860. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Eric M. Dube sold 21,125 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $243,360.00. Following the completion of the transaction, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey A. Meckler sold 40,000 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $14.06, for a total value of $562,400.00. Following the transaction, the director now directly owns 81,000 shares of the company’s stock, valued at $1,138,860. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,707 shares of company stock worth $1,504,312. 4.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TVTX shares. Wells Fargo & Company upgraded Travere Therapeutics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $9.00 to $27.00 in a research note on Monday, October 21st. Piper Sandler raised their price objective on Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Guggenheim raised their price objective on Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Citigroup cut their target price on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Finally, HC Wainwright dropped their price target on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a report on Friday, September 27th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.38.

View Our Latest Report on Travere Therapeutics

About Travere Therapeutics

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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.

See Also

Earnings History for Travere Therapeutics (NASDAQ:TVTX)

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