By otakuyassine3@gmail.com 
Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX – Get Free Report) fell 4.2% during mid-day trading on Tuesday . The stock traded as low as $17.81 and last traded at $17.81. 88,018 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 1,071,796 shares. The stock had previously closed at $18.59.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the stock. Guggenheim upped their price objective on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Piper Sandler upped their price target on Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Barclays raised their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Wedbush upped their target price on Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Finally, Bank of America lifted their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. 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.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $24.00.
Check Out Our Latest Analysis on Travere Therapeutics
Travere Therapeutics Trading Up 2.1 %
The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The company’s 50 day moving average is $18.23 and its 200 day moving average is $14.37. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -4.05 and a beta of 0.70.
Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The company had revenue of $62.90 million for the quarter, compared to the consensus estimate of $60.87 million. During the same quarter in the previous year, the firm posted ($1.17) EPS. The business’s revenue was up 69.6% compared to the same quarter last year. On average, research analysts forecast that Travere Therapeutics, Inc. will post -3.92 EPS for the current fiscal year.
Insiders Place Their Bets
In other Travere Therapeutics news, insider Jula Inrig sold 2,066 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $19.10, for a total value of $39,460.60. Following the sale, the insider now owns 59,883 shares of the company’s stock, valued at $1,143,765.30. The trade was a 3.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Sandra Calvin sold 15,000 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $17.22, for a total transaction of $258,300.00. Following the transaction, the chief accounting officer now directly owns 54,927 shares of the company’s stock, valued at $945,842.94. The trade was a 21.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,596 shares of company stock worth $527,262. 4.06% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Travere Therapeutics
A number of institutional investors have recently added to or reduced their stakes in TVTX. CWM LLC lifted its position in shares of Travere Therapeutics by 158.5% during the 3rd 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 period. DRW Securities LLC acquired a new position in Travere Therapeutics during the second quarter worth $95,000. Quarry LP acquired a new position in Travere Therapeutics during the third quarter worth $105,000. Forefront Analytics LLC lifted its holdings in shares of 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 period. Finally, Sei Investments Co. acquired a new stake in shares of Travere Therapeutics in the 2nd quarter valued at $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.
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