Eric M. Dube Sells 10,736 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric M. Dube sold 10,736 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were 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 represents a 2.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Travere Therapeutics Trading Down 2.4 %

Shares of NASDAQ:TVTX opened at $20.31 on Friday. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $21.56. The business has a fifty day moving average price of $18.33 and a two-hundred day moving average price of $14.87. 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 (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01. The business had revenue of $62.90 million during the quarter, compared to the consensus estimate of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The firm’s quarterly revenue was up 69.6% compared to the same quarter last year. During the same quarter last year, the company posted ($1.17) earnings per share. Sell-side analysts anticipate that Travere Therapeutics, Inc. will post -3.92 EPS for the current year.

Hedge Funds Weigh In On Travere Therapeutics

Several institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. bought a new stake in shares of Travere Therapeutics in the second quarter valued at $343,000. XTX Topco Ltd raised its position in shares of Travere Therapeutics by 110.5% in the second quarter. XTX Topco Ltd now owns 54,262 shares of the company’s stock valued at $446,000 after purchasing an additional 28,480 shares during the period. Sei Investments Co. purchased a new stake in shares of Travere Therapeutics during the 2nd quarter valued at approximately $117,000. DRW Securities LLC purchased a new position in Travere Therapeutics in the 2nd quarter valued at approximately $95,000. Finally, Bank of Montreal Can purchased a new position in Travere Therapeutics in the 2nd quarter valued at approximately $625,000.

Analysts Set New Price Targets

A number of analysts have commented on TVTX shares. Leerink Partners restated an “outperform” rating and set a $20.00 price target on shares of Travere Therapeutics in a research note on Tuesday, October 8th. HC Wainwright upped their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Citigroup cut their price target on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Cantor Fitzgerald assumed coverage on Travere Therapeutics in a research note on Friday, January 10th. They issued an “overweight” rating for the company. Finally, Canaccord Genuity Group cut their target price on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Travere Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

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.