Travere Therapeutics (NASDAQ:TVTX) Trading Up 7.2% – Here’s Why

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s stock price traded up 7.2% on Thursday . The stock traded as high as $18.67 and last traded at $18.67. 606,293 shares were traded during trading, a decline of 56% from the average session volume of 1,383,476 shares. The stock had previously closed at $17.42.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TVTX. JPMorgan Chase & Co. increased their price target on Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $9.00 to $27.00 in a report on Monday, October 21st. Citigroup dropped their price objective on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Piper Sandler lifted their price target on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, HC Wainwright decreased their price objective on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.67.

Travere Therapeutics Stock Performance

The business has a fifty day simple moving average of $18.12 and a two-hundred day simple moving average of $13.72. The company has a market cap of $1.47 billion, a PE ratio of -4.15 and a beta of 0.69. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68.

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

Insider Activity

In related news, CAO Sandra Calvin sold 12,090 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $18.30, for a total value of $221,247.00. Following the completion of the sale, the chief accounting officer now owns 54,927 shares of the company’s stock, valued at approximately $1,005,164.10. This trade represents a 18.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Several large investors have recently made changes to their positions in the stock. CWM LLC grew 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 purchasing an additional 3,065 shares in the last quarter. Quarry LP purchased a new position in Travere Therapeutics in the third quarter valued at approximately $105,000. Diversified Trust Co acquired a new stake in Travere Therapeutics during the 3rd quarter worth $161,000. DRW Securities LLC acquired a new stake in shares of Travere Therapeutics during the second quarter worth about $95,000. Finally, Aigen Investment Management LP purchased a new stake in Travere Therapeutics in the third quarter valued at approximately $170,000.

Travere Therapeutics Company Profile

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.