Travere Therapeutics, Inc. (NASDAQ:TVTX) Insider Sells $30,000.96 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Peter Heerma sold 1,584 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total value of $30,000.96. Following the completion of the transaction, the insider now directly owns 106,374 shares of the company’s stock, valued at approximately $2,014,723.56. This trade represents a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Travere Therapeutics Stock Performance

Shares of NASDAQ:TVTX opened at $20.31 on Friday. The business has a fifty day moving average of $18.33 and a 200-day moving average of $14.91. The firm has a market cap of $1.59 billion, a PE ratio of -4.46 and a beta of 0.70. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. Travere Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $21.56.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The firm had revenue of $62.90 million during the quarter, compared to analysts’ expectations of $60.87 million. During the same quarter last year, the company posted ($1.17) EPS. The company’s quarterly revenue was up 69.6% compared to the same quarter last year. On average, equities research analysts predict that Travere Therapeutics, Inc. will post -3.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Bank of America lifted their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Barclays increased their target price on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $9.00 to $27.00 in a research note on Monday, October 21st. Finally, HC Wainwright increased their price objective on Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TVTX. Millennium Management LLC boosted its position in Travere Therapeutics by 33.9% in the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after buying an additional 747,406 shares during the last quarter. Emerald Advisers LLC lifted its stake in shares of Travere Therapeutics by 19.8% during the third quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock valued at $27,430,000 after acquiring an additional 323,513 shares during the period. Finepoint Capital LP boosted its holdings in Travere Therapeutics by 0.3% in the third quarter. Finepoint Capital LP now owns 1,782,267 shares of the company’s stock valued at $24,934,000 after acquiring an additional 5,539 shares during the last quarter. Geode Capital Management LLC increased its position in Travere Therapeutics by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock worth $24,222,000 after purchasing an additional 64,744 shares during the period. Finally, Emerald Mutual Fund Advisers Trust raised its holdings in Travere Therapeutics by 26.0% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company’s stock worth $16,588,000 after purchasing an additional 244,444 shares during the last quarter.

Travere Therapeutics Company Profile

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.