Travere Therapeutics (NASDAQ:TVTX) Stock Price Down 6.1% – Time to Sell?

Travere Therapeutics, Inc. (NASDAQ:TVTX) shares dropped 6.1% during mid-day trading on Monday . The company traded as low as $36.57 and last traded at $37.0930. Approximately 1,510,816 shares traded hands during trading, a decline of 4% from the average daily volume of 1,572,810 shares. The stock had previously closed at $39.52.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TVTX shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, October 8th. Stifel Nicolaus increased their price objective on shares of Travere Therapeutics from $20.00 to $25.00 and gave the company a “hold” rating in a research note on Friday, September 12th. Citigroup lifted their target price 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. Zacks Research cut shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, Wall Street Zen raised Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 13th. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.71.

Travere Therapeutics Stock Performance

The stock has a 50 day moving average price of $35.20 and a two-hundred day moving average price of $25.28. 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 company has a market capitalization of $3.41 billion, a price-to-earnings ratio of -35.95 and a beta of 0.85.

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

Insiders Place Their Bets

In related news, CAO Sandra Calvin sold 7,402 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $40.00, for a total value of $296,080.00. Following the completion of the transaction, the chief accounting officer owned 38,233 shares in the company, valued at $1,529,320. The trade was a 16.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Christopher R. Cline sold 20,000 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $35.01, for a total value of $700,200.00. Following the completion of the transaction, the chief financial officer owned 92,083 shares in the company, valued at $3,223,825.83. The trade was a 17.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 320,750 shares of company stock valued at $11,192,252 over the last quarter. Company insiders own 4.06% of the company’s stock.

Institutional Trading of Travere Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its position in shares of Travere Therapeutics by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 24,964 shares of the company’s stock worth $597,000 after buying an additional 375 shares during the period. Prudential Financial Inc. grew its holdings in Travere Therapeutics by 0.3% during the 2nd quarter. Prudential Financial Inc. now owns 244,256 shares of the company’s stock worth $3,615,000 after acquiring an additional 615 shares during the period. Teacher Retirement System of Texas grew its holdings in Travere Therapeutics by 3.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 22,688 shares of the company’s stock worth $336,000 after acquiring an additional 773 shares during the period. Diversified Trust Co raised its position in shares of Travere Therapeutics by 3.5% during the 3rd quarter. Diversified Trust Co now owns 23,695 shares of the company’s stock valued at $566,000 after acquiring an additional 796 shares during the last quarter. Finally, Sio Capital Management LLC lifted its stake in shares of Travere Therapeutics by 1.0% in the 2nd quarter. Sio Capital Management LLC now owns 122,210 shares of the company’s stock valued at $1,809,000 after purchasing an additional 1,210 shares during the period.

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.