Travere Therapeutics (NASDAQ:TVTX) Insider William Rote Sells 60,000 Shares

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider William Rote sold 60,000 shares of Travere Therapeutics stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $40.10, for a total value of $2,406,000.00. Following the transaction, the insider owned 101,443 shares in the company, valued at approximately $4,067,864.30. The trade was a 37.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Travere Therapeutics Trading Down 1.9%

NASDAQ:TVTX traded down $0.76 on Monday, hitting $38.88. The stock had a trading volume of 1,348,814 shares, compared to its average volume of 1,736,032. The company has a fifty day moving average price of $34.36 and a two-hundred day moving average price of $24.61. Travere Therapeutics, Inc. has a 1-year low of $12.91 and a 1-year high of $42.13. The company has a quick ratio of 2.71, a current ratio of 2.75 and a debt-to-equity ratio of 4.23. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of -36.68 and a beta of 0.89.

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

Institutional Trading of Travere Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in TVTX. Adage Capital Partners GP L.L.C. lifted its stake in Travere Therapeutics by 479.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,184,898 shares of the company’s stock valued at $39,153,000 after buying an additional 1,808,098 shares during the last quarter. Stephens Investment Management Group LLC acquired a new position in shares of Travere Therapeutics in the 3rd quarter valued at $38,232,000. Armistice Capital LLC raised its position in Travere Therapeutics by 20.6% in the 1st quarter. Armistice Capital LLC now owns 8,872,000 shares of the company’s stock valued at $158,986,000 after purchasing an additional 1,514,000 shares during the last quarter. Wellington Management Group LLP boosted its stake in Travere Therapeutics by 3,331.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock worth $28,715,000 after purchasing an additional 1,166,460 shares during the period. Finally, Frazier Life Sciences Management L.P. acquired a new stake in Travere Therapeutics during the 2nd quarter worth $14,831,000.

Wall Street Analyst Weigh In

TVTX has been the subject of a number of recent analyst reports. Cowen reiterated a “buy” rating on shares of Travere Therapeutics in a research report on Friday, October 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, October 8th. Jefferies Financial Group set a $35.00 price target on Travere Therapeutics in a research note on Wednesday, September 10th. Piper Sandler lifted their target price on Travere Therapeutics from $26.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Finally, Stifel Nicolaus increased their price objective on Travere Therapeutics from $20.00 to $25.00 and gave the company a “hold” rating in a research note on Friday, September 12th. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.71.

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.