Eric M. Dube Sells 18,924 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric M. Dube sold 18,924 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $398,350.20. Following the sale, the chief executive officer now directly owns 419,173 shares in the company, valued at $8,823,591.65. This trade represents a 4.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Travere Therapeutics Price Performance

TVTX opened at $20.23 on Thursday. Travere Therapeutics, Inc. has a 1 year low of $6.01 and a 1 year high of $25.29. The company’s 50 day simple moving average is $18.05 and its 200 day simple moving average is $18.79. The stock has a market capitalization of $1.80 billion, a PE ratio of -4.93 and a beta of 0.88. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.08. The company had revenue of $81.73 million during the quarter, compared to analysts’ expectations 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 previous year, the company earned ($1.76) EPS. As a group, sell-side analysts expect that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Hedge Funds Weigh In On Travere Therapeutics

Large investors have recently modified their holdings of the company. Rock Springs Capital Management LP increased its position in Travere Therapeutics by 6.2% during the 4th quarter. Rock Springs Capital Management LP now owns 4,973,649 shares of the company’s stock worth $86,641,000 after purchasing an additional 289,173 shares in the last quarter. Renaissance Technologies LLC grew its stake in Travere Therapeutics by 28.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company’s stock worth $41,974,000 after buying an additional 534,500 shares during the period. Driehaus Capital Management LLC raised its stake in shares of Travere Therapeutics by 608.1% in the 4th quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company’s stock valued at $38,637,000 after acquiring an additional 1,904,733 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Travere Therapeutics by 36.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company’s stock valued at $37,875,000 after acquiring an additional 583,836 shares in the last quarter. Finally, Emerald Advisers LLC boosted its position in Travere Therapeutics by 8.4% during the 4th quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company’s stock worth $37,030,000 after purchasing an additional 165,085 shares during the period.

Wall Street Analyst Weigh In

TVTX has been the topic of several research reports. Bank of America upped their target price on Travere Therapeutics from $29.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, April 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of Travere Therapeutics in a research note on Wednesday, April 23rd. HC Wainwright lifted their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Citigroup increased their price target on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Finally, Canaccord Genuity Group lifted their price objective on Travere Therapeutics from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, April 10th. Two 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.79.

About Travere Therapeutics

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.