Travere Therapeutics, Inc. (NASDAQ:TVTX) SVP Sells $50,538.24 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction dated 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 directly owns 84,455 shares in the company, valued at approximately $972,921.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Travere Therapeutics Trading Down 4.7 %

Shares of NASDAQ:TVTX opened at $12.24 on Thursday. Travere Therapeutics, Inc. has a 12-month low of $5.12 and a 12-month high of $14.07. The stock has a market cap of $936.24 million, a PE ratio of -5.83 and a beta of 0.71. The business has a 50 day moving average of $9.48 and a 200-day moving average of $7.92. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The firm had revenue of $54.12 million for the quarter, compared to the consensus estimate of $49.50 million. As a group, equities research analysts forecast that Travere Therapeutics, Inc. will post -3.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Piper Sandler lifted their target price on Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Bank of America lifted their target price on Travere Therapeutics from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Wedbush lifted their target price on Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. HC Wainwright lifted their target price on Travere Therapeutics from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Barclays lifted their target price on Travere Therapeutics from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.33.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Forefront Analytics LLC boosted its stake in shares of Travere Therapeutics by 10.2% in the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after buying an additional 1,237 shares during the period. ProShare Advisors LLC boosted its stake in shares of Travere Therapeutics by 9.2% in the first quarter. ProShare Advisors LLC now owns 18,421 shares of the company’s stock valued at $142,000 after buying an additional 1,557 shares during the period. Rice Hall James & Associates LLC boosted its stake in shares of Travere Therapeutics by 3.8% in the second quarter. Rice Hall James & Associates LLC now owns 76,174 shares of the company’s stock valued at $626,000 after buying an additional 2,774 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Travere Therapeutics by 10.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,009 shares of the company’s stock valued at $240,000 after buying an additional 2,948 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Travere Therapeutics by 8.1% in the first 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.

About Travere Therapeutics

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.