Travere Therapeutics (NASDAQ:TVTX) Issues Earnings Results

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

Travere Therapeutics Stock Performance

Shares of TVTX stock opened at $17.50 on Friday. 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 one year low of $5.12 and a one year high of $19.25. The company’s 50-day simple moving average is $14.35 and its 200-day simple moving average is $10.01.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, insider Jula Inrig sold 2,191 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $25,240.32. Following the completion of the sale, the insider now owns 62,633 shares in the company, valued at $721,532.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Eric M. Dube sold 21,125 shares of the business’s 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 owns 361,975 shares in the company, valued at $4,169,952. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jula Inrig sold 2,191 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $25,240.32. Following the completion of the sale, the insider now directly owns 62,633 shares in the company, valued at $721,532.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,707 shares of company stock worth $1,504,312 over the last quarter. 3.75% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TVTX. Piper Sandler increased their price objective on shares of Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Scotiabank started coverage on Travere Therapeutics in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $23.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Citigroup dropped their target price on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Finally, Guggenheim upped their price target on Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $21.38.

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.