Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Christopher R. Cline Sells 865 Shares

Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Christopher R. Cline sold 865 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total value of $16,383.10. Following the completion of the transaction, the chief financial officer now directly owns 73,730 shares of the company’s stock, valued at approximately $1,396,446.20. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock traded up $1.35 during trading on Thursday, reaching $20.81. The company’s stock had a trading volume of 2,031,403 shares, compared to its average volume of 1,331,242. Travere Therapeutics, Inc. has a one year low of $5.12 and a one year high of $20.89. The stock has a 50-day moving average price of $18.28 and a two-hundred day moving average price of $14.79. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The stock has a market capitalization of $1.62 billion, a P/E ratio of -4.57 and a beta of 0.70.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $60.87 million. During the same period in the prior year, the business earned ($1.17) earnings per share. Travere Therapeutics’s quarterly revenue was up 69.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Travere Therapeutics, Inc. will post -3.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TVTX. Scotiabank raised their price objective on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. Citigroup lowered their price objective on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Wedbush increased their target price on Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Guggenheim boosted their price target on Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Bank of America increased their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.00.

Hedge Funds Weigh In On Travere Therapeutics

Several large investors have recently made changes to their positions in TVTX. Aigen Investment Management LP acquired a new stake in Travere Therapeutics in the third quarter worth about $170,000. Oppenheimer & Co. Inc. bought a new position in shares of Travere Therapeutics in the 3rd quarter valued at about $673,000. Millennium Management LLC boosted its stake in shares of Travere Therapeutics by 33.9% in the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after purchasing an additional 747,406 shares during the last quarter. FMR LLC boosted its stake in shares of Travere Therapeutics by 27.5% in the 3rd quarter. FMR LLC now owns 147,416 shares of the company’s stock valued at $2,062,000 after purchasing an additional 31,772 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of Travere Therapeutics by 30.2% in the 3rd quarter. Two Sigma Advisers LP now owns 720,400 shares of the company’s stock valued at $10,078,000 after purchasing an additional 167,100 shares during the last quarter.

Travere Therapeutics Company Profile

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.