Eric Dube Sells 51,865 Shares of Travere Therapeutics (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric Dube sold 51,865 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $30.10, for a total transaction of $1,561,136.50. Following the sale, the chief executive officer directly owned 419,173 shares of the company’s stock, valued at approximately $12,617,107.30. This represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Travere Therapeutics Trading Up 0.3%

NASDAQ:TVTX traded up $0.09 during trading hours on Tuesday, hitting $30.03. 1,424,711 shares of the stock traded hands, compared to its average volume of 2,922,582. The company has a debt-to-equity ratio of 4.23, a current ratio of 2.75 and a quick ratio of 2.71. Travere Therapeutics, Inc. has a fifty-two week low of $12.91 and a fifty-two week high of $42.13. The firm has a 50 day moving average price of $34.58 and a 200 day moving average price of $27.12.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.28 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 the consensus estimate of $106.09 million. Travere Therapeutics had a negative net margin of 20.32% and a negative return on equity of 178.68%. The firm’s revenue was up 162.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.70) earnings per share. As a group, equities analysts expect that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TVTX. Piper Sandler upped their target price on Travere Therapeutics from $26.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Guggenheim reissued a “buy” rating and set a $49.00 price objective on shares of Travere Therapeutics in a report on Wednesday, January 14th. TD Cowen reiterated a “buy” rating on shares of Travere Therapeutics in a research report on Friday, October 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Finally, Wall Street Zen upgraded shares of Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 13th. Twelve equities 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 company. According to data from MarketBeat, Travere Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $38.86.

Hedge Funds Weigh In On Travere Therapeutics

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Travere Therapeutics by 10.3% in the third quarter. Vanguard Group Inc. now owns 6,613,368 shares of the company’s stock valued at $158,059,000 after buying an additional 619,085 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in Travere Therapeutics by 27.4% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company’s stock worth $41,203,000 after buying an additional 599,102 shares during the period. Emerald Advisers LLC raised its stake in Travere Therapeutics by 2.6% in the 3rd quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company’s stock worth $51,308,000 after purchasing an additional 55,407 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Travere Therapeutics by 1.4% in the second quarter. Geode Capital Management LLC now owns 2,003,701 shares of the company’s stock valued at $29,658,000 after buying an additional 27,040 shares in the last quarter. Finally, Stephens Investment Management Group LLC acquired a new position in Travere Therapeutics in the 3rd quarter valued at $38,232,000.

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.