Insider Selling: Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Sells $320,000.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Roy D. Baynes sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $20.00, for a total transaction of $320,000.00. Following the completion of the sale, the director now owns 31,000 shares in the company, valued at $620,000. The trade was a 34.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Travere Therapeutics Stock Performance

Shares of TVTX opened at $20.31 on Friday. The company’s 50 day moving average price is $18.33 and its 200 day moving average price is $14.91. Travere Therapeutics, Inc. has a 52 week low of $5.12 and a 52 week high of $21.56. The company has a market capitalization of $1.59 billion, a PE ratio of -4.46 and a beta of 0.70. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.01. The firm had revenue of $62.90 million during the quarter, compared to analysts’ expectations of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The company’s revenue was up 69.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.17) earnings per share. Research analysts expect that Travere Therapeutics, Inc. will post -3.92 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on TVTX. Piper Sandler boosted their target price on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Leerink Partners reissued an “outperform” rating and issued a $20.00 target price on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Barclays lifted their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Guggenheim lifted their target price on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Scotiabank lifted their target price on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Institutional Trading of Travere Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new stake in shares of Travere Therapeutics in the fourth quarter worth $53,000. CWM LLC lifted its stake in shares of Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after buying an additional 3,065 shares during the last quarter. DRW Securities LLC acquired a new stake in shares of Travere Therapeutics in the second quarter worth $95,000. Quarry LP acquired a new stake in shares of Travere Therapeutics in the third quarter worth $105,000. Finally, Forefront Analytics LLC lifted its stake in shares of Travere Therapeutics by 10.2% in the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after buying an additional 1,237 shares during 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.