Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Christopher R. Cline Sells 1,784 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Christopher R. Cline sold 1,784 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $37,553.20. Following the completion of the transaction, the chief financial officer now owns 93,126 shares in the company, valued at $1,960,302.30. This represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Travere Therapeutics Trading Down 6.8 %

NASDAQ:TVTX opened at $19.95 on Wednesday. Travere Therapeutics, Inc. has a 12-month low of $6.01 and a 12-month high of $25.29. The firm has a market cap of $1.77 billion, a PE ratio of -4.87 and a beta of 0.88. 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 fifty day moving average price of $18.07 and a 200 day moving average price of $18.78.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.08. The firm had revenue of $81.73 million for the quarter, compared to analyst estimates of $77.44 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The business’s quarterly revenue was up 83.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.76) earnings per share. Sell-side analysts anticipate that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

TVTX has been the topic of a number of research analyst reports. Bank of America lifted their target price on Travere Therapeutics from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. JPMorgan Chase & Co. increased their target price on shares of Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Canaccord Genuity Group boosted their price target on shares of Travere Therapeutics from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, April 10th. Stifel Nicolaus increased their price objective on shares of Travere Therapeutics from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, May 2nd. Finally, Guggenheim reissued a “buy” rating and issued a $47.00 target price on shares of Travere Therapeutics in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.79.

Institutional Investors Weigh In On Travere Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new position in shares of Travere Therapeutics during the fourth quarter worth $31,000. Sterling Capital Management LLC boosted its position in shares of Travere Therapeutics by 859.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock worth $41,000 after acquiring an additional 2,115 shares in the last quarter. R Squared Ltd purchased a new position in shares of Travere Therapeutics in the 4th quarter valued at about $53,000. KBC Group NV acquired a new stake in shares of Travere Therapeutics during the 1st quarter worth about $75,000. Finally, Gen Wealth Partners Inc purchased a new stake in Travere Therapeutics during the fourth quarter worth approximately $73,000.

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.