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 firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $50.00, for a total transaction of $225,000.00. Following the completion of the sale, the director owned 41,500 shares in the company, valued at $2,075,000. The trade was a 9.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Stock Performance

Shares of TVTX stock opened at $55.15 on Friday. The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16. The firm has a fifty day moving average price of $43.54 and a 200 day moving average price of $35.77. The company has a market cap of $5.13 billion, a P/E ratio of -239.77 and a beta of 1.13. Travere Therapeutics, Inc. has a 12 month low of $13.97 and a 12 month high of $55.99.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.29. The company had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $136.23 million. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.Travere Therapeutics’s quarterly revenue was up 55.6% on a year-over-year basis. During the same period last year, the firm earned ($0.47) earnings per share. Sell-side analysts predict that Travere Therapeutics, Inc. will post -0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wells Fargo & Company upped their price target on Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Piper Sandler upgraded shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price objective for the company in a research report on Tuesday, April 14th. Weiss Ratings upgraded shares of Travere Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 21st. Canaccord Genuity Group increased their target price on shares of Travere Therapeutics from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Finally, Guggenheim lifted their price target on shares of Travere Therapeutics from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.83.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TVTX. State Street Corp boosted its holdings in shares of Travere Therapeutics by 47.8% in the fourth quarter. State Street Corp now owns 4,756,666 shares of the company’s stock valued at $181,752,000 after acquiring an additional 1,538,827 shares during the period. Wellington Management Group LLP increased its holdings in shares of Travere Therapeutics by 3,331.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock valued at $28,715,000 after acquiring an additional 1,166,460 shares during the period. Fiera Capital Corp purchased a new stake in Travere Therapeutics in the 4th quarter valued at $33,398,000. Perceptive Advisors LLC purchased a new stake in Travere Therapeutics in the 2nd quarter valued at $12,347,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Travere Therapeutics during the 2nd quarter worth $10,348,000.

About Travere Therapeutics

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.