Travere Therapeutics (NASDAQ:TVTX) Shares Gap Down – Here’s What Happened

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $17.75, but opened at $16.80. Travere Therapeutics shares last traded at $17.88, with a volume of 92,239 shares.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TVTX shares. HC Wainwright dropped their price objective on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Barclays upped their price target on Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. lifted their price objective on Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Scotiabank upped their price objective on shares of Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a report on Friday. Finally, Bank of America lifted their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.85.

Travere Therapeutics Trading Up 0.4 %

The firm’s 50 day moving average is $14.53 and its 200 day moving average is $10.09. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. The company has a market cap of $1.34 billion, a PE ratio of -9.35 and a beta of 0.73.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.01. The firm had revenue of $62.90 million during the quarter, compared to the consensus estimate of $60.87 million. Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. The business’s quarterly revenue was up 69.6% compared to the same quarter last year. During the same period last year, the firm earned ($1.17) EPS. On average, equities analysts anticipate that Travere Therapeutics, Inc. will post -3.95 earnings per share for the current year.

Insider Buying and Selling

In other Travere Therapeutics news, Director Gary A. Lyons sold 40,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $14.73, for a total value of $589,200.00. Following the sale, the director now owns 51,000 shares of the company’s stock, valued at $751,230. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the completion of the sale, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gary A. Lyons sold 40,000 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $14.73, for a total value of $589,200.00. Following the completion of the transaction, the director now directly owns 51,000 shares in the company, valued at approximately $751,230. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,707 shares of company stock worth $1,504,312 over the last ninety days. 3.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Travere Therapeutics

Several hedge funds have recently added to or reduced their stakes in TVTX. EntryPoint Capital LLC bought a new position in shares of Travere Therapeutics during the 1st quarter valued at about $32,000. CWM LLC boosted its stake in 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 in the last quarter. DRW Securities LLC purchased a new stake in Travere Therapeutics in the second quarter worth approximately $95,000. Forefront Analytics LLC grew its position in Travere Therapeutics by 10.2% during the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after acquiring an additional 1,237 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in shares of Travere Therapeutics in the 2nd quarter worth approximately $117,000.

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.