Travere Therapeutics (NASDAQ:TVTX) Issues Quarterly Earnings Results

Travere Therapeutics (NASDAQ:TVTX) issued its quarterly earnings results on Thursday. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.15), Zacks reports. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The firm had revenue of $74.79 million for the quarter, compared to analysts’ expectations of $72.38 million.

Travere Therapeutics Trading Down 6.8 %

Shares of NASDAQ:TVTX opened at $21.98 on Friday. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $25.29. The company’s 50 day moving average is $19.68 and its 200 day moving average is $16.57. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Scotiabank lifted their price objective on shares of Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Wednesday, February 12th. Piper Sandler boosted their price target on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Evercore ISI boosted their price target on shares of Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Barclays lifted their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Canaccord Genuity Group boosted their target price on shares of Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.77.

Insider Buying and Selling

In other Travere Therapeutics news, CAO Sandra Calvin sold 12,090 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $18.30, for a total transaction of $221,247.00. Following the completion of the sale, the chief accounting officer now directly owns 54,927 shares in the company, valued at approximately $1,005,164.10. The trade was a 18.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric M. Dube sold 10,736 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $208,922.56. Following the sale, the chief executive officer now owns 351,239 shares of the company’s stock, valued at approximately $6,835,110.94. This trade represents a 2.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 218,425 shares of company stock worth $4,674,259. 3.75% of the stock is owned by company insiders.

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.