Travere Therapeutics Sees Unusually High Options Volume (NASDAQ:TVTX)

Travere Therapeutics, Inc. (NASDAQ:TVTX) was the recipient of some unusual options trading on Tuesday. Stock investors bought 16,137 put options on the stock. This represents an increase of approximately 694% compared to the average daily volume of 2,032 put options.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $47.00 price objective on shares of Travere Therapeutics in a report on Friday, November 28th. Piper Sandler boosted their price target on Travere Therapeutics from $26.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. TD Cowen raised their price objective on Travere Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Wall Street Zen upgraded Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 13th. Finally, Citigroup increased their price target on shares of Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Travere Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $38.71.

Insider Transactions at Travere Therapeutics

In other news, insider Peter Heerma sold 4,980 shares of the company’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $40.00, for a total transaction of $199,200.00. Following the transaction, the insider owned 113,013 shares in the company, valued at $4,520,520. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jula Inrig sold 2,031 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $40.18, for a total transaction of $81,605.58. Following the completion of the transaction, the insider directly owned 86,756 shares of the company’s stock, valued at $3,485,856.08. The trade was a 2.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 323,226 shares of company stock worth $11,290,656. 4.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TVTX. First Horizon Corp purchased a new position in shares of Travere Therapeutics in the third quarter valued at approximately $36,000. Raymond James Financial Inc. acquired a new position in Travere Therapeutics in the 2nd quarter valued at $33,000. Headlands Technologies LLC acquired a new position in Travere Therapeutics in the 2nd quarter valued at $73,000. Wealth Enhancement Advisory Services LLC purchased a new position in Travere Therapeutics in the 4th quarter valued at $224,000. Finally, Quadrant Capital Group LLC acquired a new stake in Travere Therapeutics during the 3rd quarter worth $158,000.

Travere Therapeutics Stock Performance

Travere Therapeutics stock traded down $10.97 during midday trading on Tuesday, hitting $23.13. 7,774,364 shares of the company were exchanged, compared to its average volume of 3,203,707. The business has a fifty day simple moving average of $35.71 and a two-hundred day simple moving average of $26.17. 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 firm has a market capitalization of $2.07 billion, a PE ratio of -21.91, a price-to-earnings-growth ratio of 1.22 and a beta of 0.85. Travere Therapeutics has a fifty-two week low of $12.91 and a fifty-two 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, topping the consensus estimate of ($0.31) by $0.59. The business had revenue of $164.86 million for the quarter, compared to analyst estimates of $106.09 million. Travere Therapeutics had a negative return on equity of 178.68% and a negative net margin of 20.32%.The business’s quarterly revenue was up 162.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.70) EPS. On average, sell-side analysts forecast that Travere Therapeutics will post -1.4 earnings per share for the current year.

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.