Travere Therapeutics (NASDAQ:TVTX) Shares Gap Down – Here’s Why

Travere Therapeutics, Inc. (NASDAQ:TVTX) shares gapped down before the market opened on Thursday . The stock had previously closed at $17.75, but opened at $16.80. Travere Therapeutics shares last traded at $17.88, with a volume of 92,239 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TVTX shares. Citigroup reduced their target price on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Barclays upped their price objective on shares of Travere Therapeutics from $14.00 to $18.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Guggenheim raised their target price on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Canaccord Genuity Group dropped their price target on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, Bank of America increased their price target on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $21.38.

Travere Therapeutics Trading Up 1.4 %

The company has a 50 day moving average price of $14.18 and a 200 day moving average price of $9.96. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -9.44 and a beta of 0.73.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. The company had revenue of $54.12 million during the quarter, compared to analyst estimates of $49.50 million. On average, research analysts expect that Travere Therapeutics, Inc. will post -3.95 earnings per share for the current year.

Insider Activity

In related news, SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $50,538.24. Following the completion of the sale, the senior vice president now owns 84,455 shares in the company, valued at approximately $972,921.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, 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 sale, the insider now owns 62,633 shares of the company’s stock, valued at approximately $721,532.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the completion of the transaction, the senior vice president now owns 84,455 shares of the company’s stock, valued at $972,921.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,707 shares of company stock valued at $1,504,312. Company insiders own 4.06% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. raised its stake in shares of Travere Therapeutics by 14.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 40,790 shares of the company’s stock valued at $314,000 after acquiring an additional 5,123 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Travere Therapeutics by 8.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,178 shares of the company’s stock valued at $387,000 after buying an additional 3,754 shares during the period. Oak Ridge Investments LLC grew its position in shares of Travere Therapeutics by 13.3% during the first quarter. Oak Ridge Investments LLC now owns 65,926 shares of the company’s stock worth $508,000 after buying an additional 7,744 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Travere Therapeutics during the first quarter worth about $452,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Travere Therapeutics by 79.2% during the first quarter. Russell Investments Group Ltd. now owns 184,623 shares of the company’s stock worth $1,423,000 after buying an additional 81,611 shares during the period.

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.