Travere Therapeutics (NASDAQ:TVTX) Insider Sells $630,000.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Jula Inrig sold 15,000 shares of the firm’s stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $42.00, for a total value of $630,000.00. Following the completion of the sale, the insider directly owned 88,787 shares in the company, valued at approximately $3,729,054. This represents a 14.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock traded down $0.76 during trading on Monday, reaching $38.88. 1,348,814 shares of the company’s stock were exchanged, compared to its average volume of 1,736,032. The company has a debt-to-equity ratio of 4.23, a quick ratio of 2.71 and a current ratio of 2.75. Travere Therapeutics, Inc. has a 1-year low of $12.91 and a 1-year high of $42.13. The company has a market cap of $3.48 billion, a P/E ratio of -36.68 and a beta of 0.89. The firm’s 50-day moving average price is $34.36 and its 200 day moving average price is $24.61.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, October 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.59. The firm had revenue of $164.86 million for the quarter, compared to analysts’ expectations of $106.09 million. Travere Therapeutics had a negative return on equity of 178.68% and a negative net margin of 20.32%.The business’s revenue for the quarter was up 162.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.70) earnings per share. As a group, research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Travere Therapeutics from $27.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Cowen restated a “buy” rating on shares of Travere Therapeutics in a research report on Friday, October 31st. Stifel Nicolaus increased their target price on Travere Therapeutics from $20.00 to $25.00 and gave the company a “hold” rating in a research report on Friday, September 12th. Piper Sandler boosted their price target on Travere Therapeutics from $26.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Finally, TD Cowen upped their price objective on Travere Therapeutics from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.71.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Capital Fund Management S.A. acquired a new position in shares of Travere Therapeutics in the second quarter worth approximately $1,501,000. Squarepoint Ops LLC raised its holdings in Travere Therapeutics by 98.7% during the 2nd quarter. Squarepoint Ops LLC now owns 479,394 shares of the company’s stock worth $7,095,000 after purchasing an additional 238,070 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new position in shares of Travere Therapeutics in the 1st quarter worth approximately $304,000. Y Intercept Hong Kong Ltd boosted its stake in shares of Travere Therapeutics by 343.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 68,000 shares of the company’s stock valued at $1,006,000 after purchasing an additional 52,675 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. bought a new position in Travere Therapeutics during the second quarter worth $2,486,000.

About Travere Therapeutics

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.