Travere Therapeutics (NASDAQ:TVTX) Trading Down 5%

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s stock price traded down 5% during trading on Wednesday . The stock traded as low as $12.13 and last traded at $12.20. 307,319 shares traded hands during trading, a decline of 75% from the average session volume of 1,241,331 shares. The stock had previously closed at $12.84.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Barclays raised their target price on Travere Therapeutics from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Wedbush lifted their target price on shares of Travere Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Canaccord Genuity Group increased their target price on shares of Travere Therapeutics from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of Travere Therapeutics from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Finally, Citigroup upped their price objective on shares of Travere Therapeutics from $14.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.33.

Travere Therapeutics Trading Up 2.9 %

The company has a 50 day moving average price of $9.57 and a 200 day moving average price of $7.96. 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 (NASDAQ:TVTX) last announced its earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The company had revenue of $54.12 million for the quarter, compared to analysts’ expectations of $49.50 million. Equities analysts forecast that Travere Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CFO Christopher R. Cline sold 2,490 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $28,684.80. Following the transaction, the chief financial officer now directly owns 74,595 shares in the company, valued at $859,334.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Eric M. Dube sold 21,125 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $4,169,952. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher R. Cline sold 2,490 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $28,684.80. Following the sale, the chief financial officer now owns 74,595 shares in the company, valued at $859,334.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,707 shares of company stock worth $352,712. Insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TVTX. Forefront Analytics LLC boosted its position in Travere Therapeutics by 10.2% in the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after buying an additional 1,237 shares during the period. Millennium Management LLC raised its stake in shares of Travere Therapeutics by 33.9% in the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after acquiring an additional 747,406 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Travere Therapeutics by 55.7% in the second quarter. AQR Capital Management LLC now owns 74,069 shares of the company’s stock valued at $609,000 after purchasing an additional 26,485 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Travere Therapeutics during the 2nd quarter worth about $291,000. Finally, Point72 DIFC Ltd acquired a new stake in Travere Therapeutics in the 2nd quarter valued at about $175,000.

About Travere Therapeutics

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.