Travere Therapeutics (NASDAQ:TVTX) Shares Down 3.4% – Here’s Why

Travere Therapeutics, Inc. (NASDAQ:TVTX) shares were down 3.4% on Monday . The company traded as low as $18.27 and last traded at $18.56. Approximately 118,042 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 1,383,138 shares. The stock had previously closed at $19.22.

Analyst Ratings Changes

A number of research analysts have weighed in on TVTX shares. Scotiabank lifted their price objective on shares of Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. Citigroup cut their price objective on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 27th. HC Wainwright cut their target price on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Barclays boosted their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Canaccord Genuity Group cut their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.62.

Travere Therapeutics Stock Down 3.3 %

The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -3.98 and a beta of 0.69. The firm’s fifty day simple moving average is $17.66 and its two-hundred day simple moving average is $12.32.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.01. The company had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. Travere Therapeutics’s revenue was up 69.6% on a year-over-year basis. During the same period in the previous year, the business posted ($1.17) EPS. Sell-side analysts anticipate that Travere Therapeutics, Inc. will post -3.94 EPS for the current year.

Insider Buying and Selling at Travere Therapeutics

In other news, Director Gary A. Lyons sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $14.73, for a total value of $589,200.00. Following the transaction, the director now directly owns 51,000 shares in the company, valued at approximately $751,230. This represents a 43.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sandra Calvin sold 12,090 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $18.30, for a total transaction of $221,247.00. Following the sale, the chief accounting officer now directly owns 54,927 shares in the company, valued at approximately $1,005,164.10. The trade was a 18.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,090 shares of company stock worth $1,372,847 in the last ninety days. 4.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Travere Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TVTX. Creative Planning raised its stake in shares of Travere Therapeutics by 4.3% in the third quarter. Creative Planning now owns 23,938 shares of the company’s stock valued at $335,000 after acquiring an additional 995 shares in the last quarter. Forefront Analytics LLC boosted its stake in shares of Travere Therapeutics by 10.2% in the 2nd 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. Rice Hall James & Associates LLC boosted its stake in shares of Travere Therapeutics by 3.8% in the 2nd 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 grew its position in shares of Travere Therapeutics by 10.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,009 shares of the company’s stock worth $240,000 after buying an additional 2,948 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after buying an additional 3,065 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.