Travere Therapeutics (NASDAQ:TVTX) CEO Eric Dube Sells 51,865 Shares

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric Dube sold 51,865 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $30.10, for a total value of $1,561,136.50. Following the transaction, the chief executive officer directly owned 419,173 shares of the company’s stock, valued at approximately $12,617,107.30. The trade was a 11.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Travere Therapeutics Trading Up 0.3%

Travere Therapeutics stock traded up $0.09 during mid-day trading on Tuesday, reaching $30.03. The company had a trading volume of 1,424,711 shares, compared to its average volume of 2,922,582. The company has a debt-to-equity ratio of 4.23, a quick ratio of 2.71 and a current ratio of 2.75. Travere Therapeutics, Inc. has a fifty-two week low of $12.91 and a fifty-two week high of $42.13. The business has a fifty day simple moving average of $34.58 and a 200 day simple moving average of $27.12.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.59. The firm had revenue of $164.86 million for the quarter, compared to analyst estimates of $106.09 million. Travere Therapeutics had a negative return on equity of 178.68% and a negative net margin of 20.32%.The business’s revenue for the quarter was up 162.1% on a year-over-year basis. During the same period last year, the firm posted ($0.70) earnings per share. On average, equities research analysts expect that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TVTX has been the subject of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. Piper Sandler raised their price objective on Travere Therapeutics from $26.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Wall Street Zen upgraded shares of Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 13th. Zacks Research lowered shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Travere Therapeutics in a research report on Friday, October 31st. Twelve research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.86.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in Travere Therapeutics during the 2nd quarter valued at about $33,000. First Horizon Corp bought a new stake in Travere Therapeutics during the 3rd quarter valued at about $36,000. Headlands Technologies LLC purchased a new stake in Travere Therapeutics during the 2nd quarter valued at $73,000. Atria Investments Inc bought a new position in Travere Therapeutics during the 2nd quarter valued at about $154,000. Finally, Gallagher Fiduciary Advisors LLC purchased a new stake in Travere Therapeutics during the 2nd quarter valued at $155,000.

About Travere Therapeutics

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.