Travere Therapeutics (NASDAQ:TVTX) CEO Sells $244,131.35 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric Dube sold 8,135 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $30.01, for a total transaction of $244,131.35. Following the completion of the transaction, the chief executive officer owned 419,173 shares in the company, valued at $12,579,381.73. This trade represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Travere Therapeutics Price Performance

NASDAQ:TVTX traded up $0.09 during mid-day trading on Tuesday, reaching $30.03. 1,424,711 shares of the company’s stock were exchanged, compared to its average volume of 2,922,582. Travere Therapeutics, Inc. has a one year low of $12.91 and a one year high of $42.13. 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 business’s fifty day simple moving average is $34.58 and its two-hundred day simple moving average is $27.12.

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

Institutional Investors Weigh In On Travere Therapeutics

Several hedge funds have recently added to or reduced their stakes in TVTX. First Horizon Corp bought a new stake in shares of Travere Therapeutics in the 3rd quarter valued at about $36,000. Raymond James Financial Inc. bought a new position in shares of Travere Therapeutics in the 2nd quarter worth approximately $33,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Travere Therapeutics by 26.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,348 shares of the company’s stock worth $166,000 after buying an additional 902 shares during the period. Headlands Technologies LLC bought a new stake in shares of Travere Therapeutics in the second quarter worth about $73,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Travere Therapeutics in the 4th quarter worth about $224,000.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TVTX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Zacks Research cut shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. HC Wainwright reiterated a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a research report on Friday, November 28th. Guggenheim reiterated a “buy” rating and issued a $49.00 price target on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Finally, Wall Street Zen upgraded Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 13th. Twelve investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Travere Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $38.86.

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.