Travere Therapeutics (NASDAQ:TVTX) Director Sells $225,000.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Roy Baynes sold 4,500 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $50.00, for a total transaction of $225,000.00. Following the sale, the director owned 41,500 shares of the company’s stock, valued at approximately $2,075,000. This represents a 9.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Stock Performance

NASDAQ:TVTX traded down $0.37 during trading hours on Tuesday, reaching $53.43. 2,130,745 shares of the company’s stock were exchanged, compared to its average volume of 2,212,919. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of -232.29 and a beta of 1.13. The company has a 50-day moving average of $42.17 and a 200 day moving average of $35.38. The company has a quick ratio of 3.08, a current ratio of 3.13 and a debt-to-equity ratio of 3.16. Travere Therapeutics, Inc. has a 1-year low of $13.88 and a 1-year high of $54.38.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.29. The firm had revenue of $127.20 million during the quarter, compared to analysts’ expectations of $136.23 million. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. Travere Therapeutics’s quarterly revenue was up 55.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.47) EPS. Research analysts anticipate that Travere Therapeutics, Inc. will post -0.29 EPS for the current year.

Hedge Funds Weigh In On Travere Therapeutics

Large investors have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in shares of Travere Therapeutics in the 2nd quarter valued at about $33,000. Fifth Third Bancorp purchased a new position in shares of Travere Therapeutics in the 1st quarter valued at about $35,000. State of Wyoming purchased a new position in shares of Travere Therapeutics in the 4th quarter valued at about $37,000. Torren Management LLC purchased a new position in Travere Therapeutics during the 4th quarter valued at about $38,000. Finally, Comerica Bank increased its holdings in Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after acquiring an additional 492 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages recently weighed in on TVTX. Wall Street Zen cut shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. HC Wainwright lifted their target price on shares of Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Wedbush reiterated an “outperform” rating and set a $55.00 price target on shares of Travere Therapeutics in a research note on Wednesday, June 3rd. Canaccord Genuity Group increased their price target on shares of Travere Therapeutics from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Finally, Citigroup raised their price objective on shares of Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Monday. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.83.

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.