Travere Therapeutics (NASDAQ:TVTX) Insider Sells $2,406,000.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider William Rote sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $40.10, for a total transaction of $2,406,000.00. Following the sale, the insider directly owned 101,443 shares in the company, valued at approximately $4,067,864.30. The trade was a 37.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Travere Therapeutics Stock Performance

Travere Therapeutics stock traded down $0.76 during midday trading on Monday, reaching $38.88. 1,348,814 shares of the company traded hands, compared to its average volume of 1,736,032. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of -36.68 and a beta of 0.89. The company has a debt-to-equity ratio of 4.23, a current ratio of 2.75 and a quick ratio of 2.71. The business has a 50 day moving average of $34.36 and a two-hundred day moving average of $24.61. Travere Therapeutics, Inc. has a 12 month low of $12.91 and a 12 month high of $42.13.

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

Hedge Funds Weigh In On Travere Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Capital Fund Management S.A. acquired a new position in Travere Therapeutics during the second quarter worth $1,501,000. Squarepoint Ops LLC raised its position in shares of Travere Therapeutics by 98.7% in the second quarter. Squarepoint Ops LLC now owns 479,394 shares of the company’s stock valued at $7,095,000 after buying an additional 238,070 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new stake in shares of Travere Therapeutics in the first quarter valued at about $304,000. Y Intercept Hong Kong Ltd lifted its stake in shares of Travere Therapeutics by 343.7% in the second quarter. Y Intercept Hong Kong Ltd now owns 68,000 shares of the company’s stock worth $1,006,000 after buying an additional 52,675 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new position in Travere Therapeutics during the second quarter worth about $2,486,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Citigroup boosted their price objective on shares of Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Jefferies Financial Group set a $35.00 price objective on Travere Therapeutics in a research report on Wednesday, September 10th. Cowen restated a “buy” rating on shares of Travere Therapeutics in a research note on Friday, October 31st. HC Wainwright reiterated a “buy” rating and issued a $47.00 price target on shares of Travere Therapeutics in a research report on Friday, November 28th. Finally, Piper Sandler raised their price objective on shares of Travere Therapeutics from $26.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.71.

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.