Travere Therapeutics (NASDAQ:TVTX) Shares Gap Down – Should You Sell?

Travere Therapeutics, Inc. (NASDAQ:TVTX) shares gapped down prior to trading on Friday . The stock had previously closed at $21.15, but opened at $18.01. Travere Therapeutics shares last traded at $17.57, with a volume of 1,330,327 shares.

Wall Street Analysts Forecast Growth

TVTX has been the subject of several recent research reports. Guggenheim reiterated a “buy” rating and set a $47.00 target price on shares of Travere Therapeutics in a report on Monday, April 14th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Travere Therapeutics in a report on Wednesday, April 23rd. Wedbush reiterated an “outperform” rating and set a $30.00 target price on shares of Travere Therapeutics in a report on Friday. JPMorgan Chase & Co. lifted their target price on shares of Travere Therapeutics from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Stifel Nicolaus lifted their target price on shares of Travere Therapeutics from $22.00 to $23.00 and gave the company a “hold” rating in a report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.79.

Travere Therapeutics Stock Performance

The company has a market capitalization of $1.49 billion, a PE ratio of -4.10 and a beta of 0.88. The business’s fifty day moving average is $18.25 and its two-hundred day moving average is $18.91. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Thursday, May 1st. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.08. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The business had revenue of $81.73 million during the quarter, compared to the consensus estimate of $77.44 million. During the same quarter in the previous year, the firm posted ($1.76) EPS. The firm’s revenue was up 83.3% on a year-over-year basis. Equities research analysts predict that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Peter Heerma sold 1,771 shares of Travere Therapeutics stock in a transaction on Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $37,279.55. Following the transaction, the insider now owns 128,215 shares in the company, valued at $2,698,925.75. This trade represents a 1.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Eric M. Dube sold 18,924 shares of Travere Therapeutics stock in a transaction on Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $398,350.20. Following the transaction, the chief executive officer now owns 419,173 shares in the company, valued at $8,823,591.65. This represents a 4.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,527 shares of company stock valued at $473,814. Company insiders own 4.19% of the company’s stock.

Institutional Trading of Travere Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Armistice Capital LLC lifted its stake in Travere Therapeutics by 20.6% in the 1st quarter. Armistice Capital LLC now owns 8,872,000 shares of the company’s stock worth $158,986,000 after purchasing an additional 1,514,000 shares in the last quarter. Rock Springs Capital Management LP lifted its stake in Travere Therapeutics by 6.2% in the 4th quarter. Rock Springs Capital Management LP now owns 4,973,649 shares of the company’s stock worth $86,641,000 after purchasing an additional 289,173 shares in the last quarter. Driehaus Capital Management LLC lifted its stake in Travere Therapeutics by 24.8% in the 1st quarter. Driehaus Capital Management LLC now owns 2,767,693 shares of the company’s stock worth $49,597,000 after purchasing an additional 549,718 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Travere Therapeutics by 28.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company’s stock worth $41,974,000 after purchasing an additional 534,500 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its stake in Travere Therapeutics by 479.9% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,184,898 shares of the company’s stock worth $39,153,000 after purchasing an additional 1,808,098 shares in the last quarter.

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.