Travere Therapeutics (NASDAQ:TVTX) CAO Sells $296,080.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CAO Sandra Calvin sold 7,402 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $40.00, for a total transaction of $296,080.00. Following the completion of the transaction, the chief accounting officer owned 38,233 shares of the company’s stock, valued at $1,529,320. The trade was a 16.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Sandra Calvin also recently made the following trade(s):

• On Tuesday, November 4th, Sandra Calvin sold 67,115 shares of Travere Therapeutics stock. The stock was sold at an average price of $36.00, for a total transaction of $2,416,140.00.

Travere Therapeutics Price Performance

NASDAQ:TVTX traded down $0.76 during mid-day trading on Monday, reaching $38.88. The stock had a trading volume of 1,348,814 shares, compared to its average volume of 1,736,032. Travere Therapeutics, Inc. has a 12 month low of $12.91 and a 12 month high of $42.13. The stock has a market capitalization of $3.48 billion, a PE ratio of -36.68 and a beta of 0.89. The company has a debt-to-equity ratio of 4.23, a current ratio of 2.75 and a quick ratio of 2.71. The stock has a 50-day simple moving average of $34.36 and a two-hundred day simple moving average of $24.61.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, October 30th. The company reported $0.28 earnings per share 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 analysts’ expectations of $106.09 million. During the same period in the prior year, the company earned ($0.70) earnings per share. The company’s quarterly revenue was up 162.1% on a year-over-year basis. On average, equities analysts anticipate that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on TVTX shares. TD Cowen boosted their target price on Travere Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Citigroup increased their price target on Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Zacks Research downgraded shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Wells Fargo & Company upped their price target on Travere Therapeutics from $27.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Finally, Wall Street Zen raised shares of Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 13th. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.71.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. raised its holdings in shares of Travere Therapeutics by 479.9% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,184,898 shares of the company’s stock worth $39,153,000 after acquiring an additional 1,808,098 shares during the last quarter. Stephens Investment Management Group LLC acquired a new position in Travere Therapeutics during the 3rd quarter valued at about $38,232,000. Armistice Capital LLC raised its stake in shares of Travere Therapeutics by 20.6% in the first quarter. Armistice Capital LLC now owns 8,872,000 shares of the company’s stock worth $158,986,000 after purchasing an additional 1,514,000 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Travere Therapeutics by 3,331.9% in the third quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock valued at $28,715,000 after purchasing an additional 1,166,460 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. bought a new position in shares of Travere Therapeutics in the second quarter valued at approximately $14,831,000.

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.