Insider Selling: Travere Therapeutics (NASDAQ:TVTX) Insider Sells $273,400.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Elizabeth Reed sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $27.34, for a total value of $273,400.00. Following the completion of the sale, the insider owned 90,270 shares in the company, valued at $2,467,981.80. The trade was a 9.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Travere Therapeutics Stock Up 1.1%

Travere Therapeutics stock traded up $0.31 during mid-day trading on Wednesday, hitting $28.25. The company had a trading volume of 1,909,253 shares, compared to its average volume of 3,895,908. Travere Therapeutics, Inc. has a 12 month low of $12.91 and a 12 month high of $42.13. The company has a market capitalization of $2.53 billion, a PE ratio of -26.65, a price-to-earnings-growth ratio of 1.01 and a beta of 0.85. The stock’s 50 day moving average price is $35.03 and its two-hundred day moving average price is $26.74. The company has a current ratio of 2.75, a quick ratio of 2.71 and a debt-to-equity ratio of 4.23.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.59. Travere Therapeutics had a negative return on equity of 178.68% and a negative net margin of 20.32%.The firm had revenue of $164.86 million during the quarter, compared to analyst estimates of $106.09 million. During the same quarter in the previous year, the firm earned ($0.70) EPS. Travere Therapeutics’s quarterly revenue was up 162.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 13th. Guggenheim reaffirmed a “buy” rating and set a $49.00 price target on shares of Travere Therapeutics in a report on Wednesday, January 14th. Piper Sandler increased their price objective on Travere Therapeutics from $26.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Citigroup boosted their target price on Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, TD Cowen raised their price target on shares of Travere Therapeutics from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, October 31st. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Travere Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $38.86.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in Travere Therapeutics in the 2nd quarter worth $33,000. First Horizon Corp purchased a new position in shares of Travere Therapeutics in the third quarter valued at about $36,000. Headlands Technologies LLC bought a new position in shares of Travere Therapeutics in the second quarter worth about $73,000. Atria Investments Inc purchased a new stake in shares of Travere Therapeutics during the second quarter worth about $154,000. Finally, Gallagher Fiduciary Advisors LLC bought a new stake in Travere Therapeutics during the 2nd quarter valued at approximately $155,000.

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.