Travere Therapeutics, Inc. (NASDAQ:TVTX) Insider Sells $25,240.32 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Jula Inrig sold 2,191 shares of the stock in a transaction dated 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 of the company’s stock, valued at $721,532.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Travere Therapeutics Trading Up 17.1 %

Shares of TVTX stock traded up $1.88 on Monday, hitting $12.86. The stock had a trading volume of 4,209,742 shares, compared to its average volume of 1,242,490. The company’s 50 day moving average price is $9.30 and its 200-day moving average price is $7.86. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $14.62. The firm has a market capitalization of $979.02 million, a P/E ratio of -6.12 and a beta of 0.71. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The business had revenue of $54.12 million for the quarter, compared to analyst estimates of $49.50 million. Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. Analysts anticipate that Travere Therapeutics, Inc. will post -3.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. HC Wainwright increased their price objective on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company a “buy” rating in a report on Friday. Wedbush lifted their price objective on Travere Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Guggenheim raised Travere Therapeutics from a “neutral” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Monday. JPMorgan Chase & Co. boosted their price target on shares of Travere Therapeutics from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Finally, Bank of America raised their price objective on shares of Travere Therapeutics from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Travere Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $16.92.

Institutional Investors Weigh In On Travere Therapeutics

A number of hedge funds have recently added to or reduced their stakes in TVTX. Assenagon Asset Management S.A. increased its position in shares of Travere Therapeutics by 912.5% during the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock worth $18,200,000 after acquiring an additional 1,995,419 shares during the period. Parkman Healthcare Partners LLC grew its stake in Travere Therapeutics by 76.4% during the 4th quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock worth $9,159,000 after purchasing an additional 441,318 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Travere Therapeutics by 79.2% during the 1st quarter. Russell Investments Group Ltd. now owns 184,623 shares of the company’s stock worth $1,423,000 after purchasing an additional 81,611 shares during the period. GSA Capital Partners LLP acquired a new stake in Travere Therapeutics in the 1st quarter valued at about $452,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Travere Therapeutics in the 4th quarter valued at about $5,711,000.

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.