Travere Therapeutics (NASDAQ:TVTX) Shares Up 4.5%

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) were up 4.5% during mid-day trading on Friday . The stock traded as high as $14.81 and last traded at $14.78. Approximately 296,987 shares changed hands during trading, a decline of 77% from the average daily volume of 1,295,989 shares. The stock had previously closed at $14.15.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TVTX. Piper Sandler reduced their price objective on shares of Travere Therapeutics from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, August 18th. TD Cowen started coverage on shares of Travere Therapeutics in a research report on Monday, May 22nd. They set an “outperform” rating and a $30.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of Travere Therapeutics in a research report on Friday, July 21st. They issued an “overweight” rating and a $26.00 target price for the company. Evercore ISI initiated coverage on shares of Travere Therapeutics in a research note on Wednesday. They set an “outperform” rating and a $30.00 target price for the company. Finally, Canaccord Genuity Group reduced their price target on shares of Travere Therapeutics from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, July 18th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Travere Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $28.50.

Travere Therapeutics Stock Up 1.8 %

The stock has a market capitalization of $1.08 billion, a PE ratio of -3.19 and a beta of 0.42. The company has a current ratio of 3.99, a quick ratio of 3.86 and a debt-to-equity ratio of 3.23. The stock’s fifty day simple moving average is $15.05 and its 200-day simple moving average is $17.75.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, August 3rd. The company reported ($1.13) EPS for the quarter, topping the consensus estimate of ($1.16) by $0.03. The company had revenue of $59.70 million during the quarter, compared to analyst estimates of $53.93 million. Travere Therapeutics had a negative return on equity of 273.80% and a negative net margin of 136.00%. As a group, sell-side analysts forecast that Travere Therapeutics, Inc. will post -4.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other Travere Therapeutics news, CEO Eric M. Dube sold 4,455 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $14.71, for a total value of $65,533.05. Following the completion of the transaction, the chief executive officer now directly owns 242,595 shares in the company, valued at $3,568,572.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Eric M. Dube sold 4,455 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $14.71, for a total value of $65,533.05. Following the transaction, the chief executive officer now directly owns 242,595 shares in the company, valued at $3,568,572.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP William E. Rote sold 1,815 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $14.71, for a total transaction of $26,698.65. Following the sale, the senior vice president now directly owns 61,173 shares of the company’s stock, valued at $899,854.83. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,727 shares of company stock valued at $98,954. Insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TVTX. Nuveen Asset Management LLC increased its stake in Travere Therapeutics by 171.9% in the second quarter. Nuveen Asset Management LLC now owns 890,777 shares of the company’s stock valued at $13,682,000 after purchasing an additional 563,124 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Travere Therapeutics by 19.0% in the 2nd quarter. Alliancebernstein L.P. now owns 70,620 shares of the company’s stock valued at $1,085,000 after buying an additional 11,300 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Travere Therapeutics by 74.6% in the 2nd quarter. Wells Fargo & Company MN now owns 122,896 shares of the company’s stock valued at $1,888,000 after purchasing an additional 52,518 shares in the last quarter. Dana Investment Advisors Inc. lifted its stake in shares of Travere Therapeutics by 26.2% in the 2nd quarter. Dana Investment Advisors Inc. now owns 30,801 shares of the company’s stock valued at $473,000 after purchasing an additional 6,390 shares in the last quarter. Finally, Walleye Capital LLC lifted its position in Travere Therapeutics by 1,679.9% during the 2nd quarter. Walleye Capital LLC now owns 733,862 shares of the company’s stock worth $11,272,000 after acquiring an additional 692,631 shares in the last quarter.

About Travere Therapeutics

Travere Therapeutics, Inc, a biopharmaceutical company, focuses on the identification, development, commercialization, and delivering of therapies for the treatment of rare diseases. Its marketed products include Chenodal, a synthetic oral form of chenodeoxycholic acid for the treatment of radiolucent stones in gallbladders; Cholbam, a cholic acid capsule to treat pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects, as well as for adjunctive treatment of patients with peroxisomal disorders; and Thiola and Thiola EC, a tiopronin tablet for the treatment of homozygous cystinuria.