Elizabeth Reed Sells 10,000 Shares of Travere Therapeutics (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Elizabeth Reed sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $27.34, for a total transaction of $273,400.00. Following the transaction, the insider owned 90,270 shares of the company’s stock, valued at approximately $2,467,981.80. This represents a 9.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Travere Therapeutics Stock Performance

Shares of NASDAQ TVTX opened at $29.73 on Friday. The company has a debt-to-equity ratio of 4.23, a quick ratio of 2.71 and a current ratio of 2.75. The company has a market cap of $2.66 billion, a P/E ratio of -28.05, a P/E/G ratio of 1.13 and a beta of 0.85. The firm’s fifty day moving average is $34.79 and its two-hundred day moving average is $26.77. Travere Therapeutics, Inc. has a 52-week low of $12.91 and a 52-week high of $42.13.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of ($0.31) by $0.59. The business had revenue of $164.86 million during the quarter, compared to the consensus estimate 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 revenue was up 162.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.70) EPS. As a group, analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Analyst Ratings Changes

TVTX has been the topic of a number of research reports. Citigroup lifted their price objective on Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. TD Cowen reissued a “buy” rating on shares of Travere Therapeutics in a report on Friday, October 31st. Wall Street Zen upgraded shares of Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 13th. Guggenheim reaffirmed a “buy” rating and set a $49.00 price target on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Finally, Zacks Research cut shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Twelve 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. According to MarketBeat, Travere Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $38.86.

Institutional Trading of Travere Therapeutics

Institutional investors have recently bought and sold shares of the stock. Capital Fund Management S.A. purchased a new stake in Travere Therapeutics in the second quarter worth $1,501,000. Emerald Advisers LLC grew its holdings in shares of Travere Therapeutics by 2.6% in the third quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company’s stock worth $51,308,000 after purchasing an additional 55,407 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of Travere Therapeutics by 98.7% in the second quarter. Squarepoint Ops LLC now owns 479,394 shares of the company’s stock worth $7,095,000 after purchasing an additional 238,070 shares during the last quarter. Voya Investment Management LLC increased its stake in Travere Therapeutics by 16.2% in the 3rd quarter. Voya Investment Management LLC now owns 194,854 shares of the company’s stock worth $4,657,000 after buying an additional 27,133 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its holdings in Travere Therapeutics by 343.7% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 68,000 shares of the company’s stock valued at $1,006,000 after buying an additional 52,675 shares in the last quarter.

Travere Therapeutics Company Profile

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.