Travere Therapeutics (NASDAQ:TVTX) Insider Sells $199,200.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Peter Heerma sold 4,980 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $40.00, for a total value of $199,200.00. Following the transaction, the insider directly owned 113,013 shares of the company’s stock, valued at $4,520,520. The trade was a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Peter Heerma also recently made the following trade(s):

• On Friday, October 31st, Peter Heerma sold 5,591 shares of Travere Therapeutics stock. The stock was sold at an average price of $35.00, for a total value of $195,685.00.
• On Tuesday, October 28th, Peter Heerma sold 2,662 shares of Travere Therapeutics stock. The shares were sold at an average price of $30.00, for a total value of $79,860.00.

Travere Therapeutics Trading Down 1.9%

Shares of Travere Therapeutics stock traded down $0.76 during midday trading on Monday, reaching $38.88. 1,348,814 shares of the company’s stock traded hands, compared to its average volume of 1,736,032. The stock has a 50 day moving average of $34.36 and a 200-day moving average of $24.61. Travere Therapeutics, Inc. has a 12 month low of $12.91 and a 12 month high of $42.13. The company has a market cap of $3.48 billion, a PE ratio of -36.68 and a beta of 0.89. The company has a debt-to-equity ratio of 4.23, a quick ratio of 2.71 and a current ratio of 2.75.

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

Hedge Funds Weigh In On Travere Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in shares of Travere Therapeutics in the 2nd quarter worth approximately $33,000. First Horizon Corp purchased a new position in Travere Therapeutics during the third quarter valued at $36,000. Headlands Technologies LLC bought a new stake in Travere Therapeutics in the second quarter worth $73,000. Atria Investments Inc purchased a new stake in shares of Travere Therapeutics in the second quarter worth $154,000. Finally, Gallagher Fiduciary Advisors LLC purchased a new stake in shares of Travere Therapeutics in the second quarter worth $155,000.

Analysts Set New Price Targets

TVTX has been the subject of a number of research reports. Wells Fargo & Company increased their price target on shares of Travere Therapeutics from $27.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Zacks Research cut Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. HC Wainwright reiterated a “buy” rating and set a $47.00 target price on shares of Travere Therapeutics in a report on Friday, November 28th. Citigroup raised their target price on Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Stifel Nicolaus lifted their price target on Travere Therapeutics from $20.00 to $25.00 and gave the company a “hold” rating in a research report on Friday, September 12th. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Travere Therapeutics has a consensus rating of “Moderate Buy” and an average 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.