Travere Therapeutics (NASDAQ:TVTX) Shares Gap Down to $22.39

Travere Therapeutics, Inc. (NASDAQ:TVTXGet Rating)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $22.39, but opened at $21.86. Travere Therapeutics shares last traded at $22.21, with a volume of 1,410 shares changing hands.

TVTX has been the subject of a number of recent research reports. HC Wainwright raised their price objective on shares of Travere Therapeutics from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, May 17th. Piper Sandler dropped their price objective on shares of Travere Therapeutics from $42.00 to $40.00 in a research note on Friday, May 6th. Finally, Zacks Investment Research raised shares of Travere Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, April 28th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $33.50.

The company has a debt-to-equity ratio of 1.80, a quick ratio of 5.23 and a current ratio of 5.28. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -6.85 and a beta of 0.72. The business’s fifty day simple moving average is $25.95 and its 200 day simple moving average is $27.24.

Travere Therapeutics (NASDAQ:TVTXGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($1.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.35). The firm had revenue of $48.49 million during the quarter, compared to analyst estimates of $51.92 million. Travere Therapeutics had a negative return on equity of 70.33% and a negative net margin of 88.46%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.96) EPS. As a group, analysts forecast that Travere Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

In related news, SVP William E. Rote sold 1,563 shares of the business’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $21.71, for a total transaction of $33,932.73. Following the completion of the sale, the senior vice president now owns 43,672 shares of the company’s stock, valued at approximately $948,119.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steve Aselage sold 2,575 shares of the business’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $21.92, for a total transaction of $56,444.00. Following the sale, the director now directly owns 146,919 shares of the company’s stock, valued at approximately $3,220,464.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,399 shares of company stock valued at $117,501. Insiders own 4.71% of the company’s stock.

A number of institutional investors have recently bought and sold shares of TVTX. New York State Common Retirement Fund lifted its stake in shares of Travere Therapeutics by 10.0% in the 4th quarter. New York State Common Retirement Fund now owns 43,284 shares of the company’s stock worth $1,344,000 after acquiring an additional 3,945 shares during the period. ProShare Advisors LLC lifted its stake in shares of Travere Therapeutics by 5.3% in the 4th quarter. ProShare Advisors LLC now owns 21,523 shares of the company’s stock worth $669,000 after acquiring an additional 1,085 shares during the period. Laurion Capital Management LP lifted its stake in shares of Travere Therapeutics by 33.8% in the 3rd quarter. Laurion Capital Management LP now owns 758,951 shares of the company’s stock worth $18,404,000 after acquiring an additional 191,768 shares during the period. Public Sector Pension Investment Board lifted its stake in shares of Travere Therapeutics by 50.8% in the 4th quarter. Public Sector Pension Investment Board now owns 359,000 shares of the company’s stock worth $11,143,000 after acquiring an additional 121,000 shares during the period. Finally, Jackson Creek Investment Advisors LLC acquired a new stake in shares of Travere Therapeutics in the 4th quarter worth approximately $1,182,000.

Travere Therapeutics Company Profile (NASDAQ:TVTX)

Travere Therapeutics, Inc, a biopharmaceutical company, focuses on the identification, development, commercialization, and delivering of therapies for the treatment of rare diseases. Its marketed products include Chenodal, a synthetic oral form of chenodeoxycholic acid for the treatment of radiolucent stones in gallbladders; Cholbam, a cholic acid capsule to treat pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects, as well as for adjunctive treatment of patients with peroxisomal disorders; and Thiola and Thiola EC, a tiopronin tablet for the treatment of homozygous cystinuria.

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