Insider Selling: Travere Therapeutics, Inc. (NASDAQ:TVTX) SVP Sells $47,424.02 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) SVP William E. Rote sold 2,437 shares of Travere Therapeutics stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $47,424.02. Following the sale, the senior vice president now owns 83,170 shares in the company, valued at $1,618,488.20. The trade was a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX opened at $20.31 on Friday. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $21.56. 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 stock has a market cap of $1.59 billion, a P/E ratio of -4.46 and a beta of 0.70. The company has a 50 day moving average of $18.33 and a 200 day moving average of $14.91.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.01. The firm had revenue of $62.90 million for the quarter, compared to analysts’ expectations of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The business’s quarterly revenue was up 69.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.17) earnings per share. As a group, sell-side analysts forecast that Travere Therapeutics, Inc. will post -3.92 EPS for the current fiscal year.

Institutional Trading of Travere Therapeutics

A number of large investors have recently modified their holdings of TVTX. R Squared Ltd bought a new position in shares of Travere Therapeutics in the fourth quarter worth approximately $53,000. CWM LLC increased its holdings in shares of Travere Therapeutics by 158.5% in the 3rd 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 last quarter. DRW Securities LLC purchased a new stake in shares of Travere Therapeutics during the 2nd quarter valued at $95,000. Quarry LP bought a new stake in shares of Travere Therapeutics during the 3rd quarter worth $105,000. Finally, Forefront Analytics LLC grew its position in Travere Therapeutics by 10.2% in the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after acquiring an additional 1,237 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have commented on TVTX shares. Guggenheim lifted their price objective on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Bank of America upped their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Piper Sandler raised their target price on Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $9.00 to $27.00 in a research report on Monday, October 21st. Finally, Barclays lifted their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

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.