Travere Therapeutics (NASDAQ:TVTX) Shares Down 4.3% – What’s Next?

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s share price dropped 4.3% during trading on Wednesday . The company traded as low as $20.50 and last traded at $20.20. Approximately 232,515 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 1,234,086 shares. The stock had previously closed at $21.10.

Analysts Set New Price Targets

Several research firms recently commented on TVTX. Barclays upped their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Scotiabank raised their price target on Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. Bank of America boosted their price objective on shares of 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 price objective on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, Wedbush raised their price objective on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Travere Therapeutics Stock Down 4.2 %

The firm’s 50 day moving average is $18.46 and its 200-day moving average is $15.10. The firm has a market cap of $1.58 billion, a PE ratio of -4.45 and a beta of 0.70. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 537.74% and a negative net margin of 172.75%. The business’s revenue for the quarter was up 69.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.17) EPS. As a group, equities research analysts expect that Travere Therapeutics, Inc. will post -3.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Peter Heerma sold 1,584 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total value of $30,000.96. Following the completion of the sale, the insider now owns 106,374 shares of the company’s stock, valued at $2,014,723.56. This represents a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sandra Calvin sold 15,000 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $17.22, for a total value of $258,300.00. Following the completion of the sale, the chief accounting officer now directly owns 54,927 shares of the company’s stock, valued at $945,842.94. The trade was a 21.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,143 shares of company stock valued at $1,167,512. 3.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Creative Planning lifted its holdings in Travere Therapeutics by 4.3% during the 3rd quarter. Creative Planning now owns 23,938 shares of the company’s stock worth $335,000 after buying an additional 995 shares during the last quarter. R Squared Ltd bought a new stake in shares of Travere Therapeutics in the 4th quarter worth approximately $53,000. CWM LLC lifted 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 purchasing an additional 3,065 shares during the last quarter. Diversified Trust Co boosted its position in Travere Therapeutics by 27.5% during the 4th quarter. Diversified Trust Co now owns 14,701 shares of the company’s stock valued at $256,000 after purchasing an additional 3,169 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Travere Therapeutics by 20.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,969 shares of the company’s stock worth $279,000 after buying an additional 3,458 shares during the last quarter.

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.