Sandra Calvin Sells 67,115 Shares of Travere Therapeutics (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CAO Sandra Calvin sold 67,115 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $36.00, for a total value of $2,416,140.00. Following the transaction, the chief accounting officer directly owned 48,545 shares of the company’s stock, valued at $1,747,620. This trade represents a 58.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Travere Therapeutics Trading Down 2.9%

Shares of Travere Therapeutics stock opened at $32.34 on Friday. Travere Therapeutics, Inc. has a 12-month low of $12.91 and a 12-month high of $36.15. The stock has a market cap of $2.89 billion, a P/E ratio of -15.85 and a beta of 0.90. The company has a quick ratio of 1.98, a current ratio of 2.00 and a debt-to-equity ratio of 9.50. The business’s 50 day moving average is $26.11 and its 200-day moving average is $19.99.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, October 30th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.59. The business had revenue of $113.15 million during the quarter, compared to analysts’ expectations of $106.09 million. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The firm’s revenue was up 162.1% on a year-over-year basis. During the same period last year, the business earned ($0.70) earnings per share. Equities research analysts predict that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Institutional Trading of Travere Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its holdings in Travere Therapeutics by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 24,964 shares of the company’s stock valued at $597,000 after buying an additional 375 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Travere Therapeutics by 0.3% in the second quarter. Prudential Financial Inc. now owns 244,256 shares of the company’s stock valued at $3,615,000 after acquiring an additional 615 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Travere Therapeutics by 3.5% in the second quarter. Teacher Retirement System of Texas now owns 22,688 shares of the company’s stock valued at $336,000 after acquiring an additional 773 shares during the period. Diversified Trust Co grew its stake in shares of Travere Therapeutics by 3.5% in the third quarter. Diversified Trust Co now owns 23,695 shares of the company’s stock valued at $566,000 after acquiring an additional 796 shares in the last quarter. Finally, E Fund Management Co. Ltd. increased its position in Travere Therapeutics by 8.6% during the first quarter. E Fund Management Co. Ltd. now owns 13,553 shares of the company’s stock worth $243,000 after acquiring an additional 1,072 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TVTX. TD Cowen boosted their price objective on shares of Travere Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Citigroup lifted their price target on Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, October 31st. HC Wainwright reissued a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a research report on Friday, September 19th. Scotiabank restated an “outperform” rating on shares of Travere Therapeutics in a research note on Thursday, August 7th. Finally, Cowen reiterated a “buy” rating on shares of Travere Therapeutics in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $38.71.

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.