Travere Therapeutics (NASDAQ:TVTX) Director Sells $225,000.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Roy Baynes sold 4,500 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $50.00, for a total transaction of $225,000.00. Following the completion of the sale, the director directly owned 41,500 shares in the company, valued at approximately $2,075,000. This represents a 9.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Stock Down 0.7%

Shares of NASDAQ:TVTX traded down $0.37 during trading hours on Tuesday, reaching $53.43. The stock had a trading volume of 2,130,745 shares, compared to its average volume of 2,212,919. Travere Therapeutics, Inc. has a 1 year low of $13.88 and a 1 year high of $54.38. The firm’s 50 day moving average is $42.17 and its 200-day moving average is $35.38. The company has a debt-to-equity ratio of 3.16, a quick ratio of 3.08 and a current ratio of 3.13. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of -232.29 and a beta of 1.13.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.29. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The company had revenue of $127.20 million for the quarter, compared to the consensus estimate of $136.23 million. During the same period in the prior year, the firm posted ($0.47) EPS. The company’s quarterly revenue was up 55.6% compared to the same quarter last year. Research analysts predict that Travere Therapeutics, Inc. will post -0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on TVTX. Wall Street Zen downgraded shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings raised shares of Travere Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 21st. Citigroup increased their price objective on shares of Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Monday. TD Cowen upped their target price on shares of Travere Therapeutics from $45.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, HC Wainwright upped their target price on shares of Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.83.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TVTX. State Street Corp boosted its holdings in shares of Travere Therapeutics by 47.8% in the 4th quarter. State Street Corp now owns 4,756,666 shares of the company’s stock valued at $181,752,000 after buying an additional 1,538,827 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Travere Therapeutics by 3,331.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock valued at $28,715,000 after buying an additional 1,166,460 shares in the last quarter. Fiera Capital Corp acquired a new position in shares of Travere Therapeutics in the 4th quarter valued at $33,398,000. Perceptive Advisors LLC acquired a new stake in Travere Therapeutics during the 2nd quarter worth $12,347,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Travere Therapeutics during the 2nd quarter worth $10,348,000.

Travere Therapeutics Company Profile

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.