Travere Therapeutics (NASDAQ:TVTX) Insider Jula Inrig Sells 15,000 Shares

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Jula Inrig sold 15,000 shares of Travere Therapeutics stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $42.00, for a total value of $630,000.00. Following the completion of the transaction, the insider owned 88,787 shares of the company’s stock, valued at approximately $3,729,054. This trade represents a 14.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Travere Therapeutics Price Performance

TVTX stock opened at $38.88 on Tuesday. The business’s 50-day moving average is $34.36 and its two-hundred day moving average is $24.61. The company has a debt-to-equity ratio of 4.23, a current ratio of 2.75 and a quick ratio of 2.71. The firm has a market capitalization of $3.48 billion, a P/E ratio of -36.68 and a beta of 0.89. Travere Therapeutics, Inc. has a 1 year low of $12.91 and a 1 year high of $42.13.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, October 30th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.59. The firm had revenue of $164.86 million for the quarter, compared to analyst estimates of $106.09 million. Travere Therapeutics had a negative net margin of 20.32% and a negative return on equity of 178.68%. The business’s quarterly revenue was up 162.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.70) earnings per share. Analysts anticipate that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Institutional Trading of Travere Therapeutics

A number of large investors have recently made changes to their positions in the company. Northern Trust Corp increased its position in Travere Therapeutics by 7.2% during the first quarter. Northern Trust Corp now owns 808,687 shares of the company’s stock worth $14,492,000 after buying an additional 54,292 shares during the period. Hsbc Holdings PLC grew its position in shares of Travere Therapeutics by 10.4% during the first quarter. Hsbc Holdings PLC now owns 30,737 shares of the company’s stock worth $542,000 after acquiring an additional 2,902 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Travere Therapeutics by 10.2% in the 1st quarter. MetLife Investment Management LLC now owns 49,288 shares of the company’s stock valued at $883,000 after acquiring an additional 4,577 shares during the period. Corebridge Financial Inc. raised its position in Travere Therapeutics by 9.7% in the 1st quarter. Corebridge Financial Inc. now owns 41,211 shares of the company’s stock valued at $739,000 after purchasing an additional 3,646 shares during the last quarter. Finally, Ieq Capital LLC boosted its stake in Travere Therapeutics by 60.6% during the 1st quarter. Ieq Capital LLC now owns 33,323 shares of the company’s stock worth $597,000 after purchasing an additional 12,574 shares during the period.

Analyst Ratings Changes

Several research firms have recently issued reports on TVTX. Wells Fargo & Company lifted their price objective on shares of Travere Therapeutics from $27.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, October 8th. Piper Sandler increased their price objective on Travere Therapeutics from $26.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Stifel Nicolaus raised their target price on Travere Therapeutics from $20.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, September 12th. Finally, Cowen reaffirmed a “buy” rating on shares of Travere Therapeutics in a report on Friday, October 31st. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.71.

About Travere Therapeutics

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.