Eric Dube Sells 8,135 Shares of Travere Therapeutics (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric Dube sold 8,135 shares of Travere Therapeutics stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $30.01, for a total value of $244,131.35. Following the completion of the sale, the chief executive officer owned 419,173 shares of the company’s stock, valued at $12,579,381.73. This trade represents a 1.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Travere Therapeutics Price Performance

TVTX opened at $30.28 on Thursday. Travere Therapeutics, Inc. has a 1 year low of $12.91 and a 1 year high of $42.13. The company’s 50 day simple moving average is $34.35 and its 200 day simple moving average is $27.24. The stock has a market capitalization of $2.71 billion, a PE ratio of -28.57, a P/E/G ratio of 0.99 and a beta of 0.85. 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 (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of ($0.31) by $0.59. The firm had revenue of $164.86 million during the quarter, compared to analyst estimates of $106.09 million. Travere Therapeutics had a negative net margin of 20.32% and a negative return on equity of 178.68%. Travere Therapeutics’s revenue for the quarter was up 162.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.70) earnings per share. As a group, sell-side analysts expect that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TVTX. Guggenheim reissued a “buy” rating and set a $49.00 price target on shares of Travere Therapeutics in a research report on Wednesday, January 14th. HC Wainwright reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Travere Therapeutics in a research note on Friday, November 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, January 21st. Citigroup raised their price target on shares of Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, TD Cowen reiterated a “buy” rating on shares of Travere Therapeutics in a research note on Friday, October 31st. Twelve research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.86.

Hedge Funds Weigh In On Travere Therapeutics

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

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.