Travere Therapeutics (NASDAQ:TVTX) Shares Gap Up – What’s Next?

Travere Therapeutics, Inc. (NASDAQ:TVTX) shares gapped up prior to trading on Monday . The stock had previously closed at $17.87, but opened at $19.12. Travere Therapeutics shares last traded at $18.51, with a volume of 133,475 shares.

Analyst Ratings Changes

Several research firms have issued reports on TVTX. Barclays increased their target price on Travere Therapeutics from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Wedbush increased their price objective on Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Citigroup cut their target price on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Leerink Partners reiterated an “outperform” rating and set a $20.00 price target on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.38.

Travere Therapeutics Price Performance

The business’s fifty day moving average price is $12.71 and its 200-day moving average price is $9.35. The company has a market capitalization of $1.42 billion, a P/E ratio of -8.51 and a beta of 0.73. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The firm had revenue of $54.12 million for the quarter, compared to the consensus estimate of $49.50 million. Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. As a group, sell-side analysts predict that Travere Therapeutics, Inc. will post -3.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the transaction, the senior vice president now directly owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Jula Inrig sold 2,191 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $25,240.32. Following the completion of the transaction, the insider now owns 62,633 shares in the company, valued at $721,532.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP William E. Rote sold 4,387 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $50,538.24. Following the completion of the transaction, the senior vice president now directly owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,707 shares of company stock valued at $1,504,312 over the last quarter. 3.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Creative Planning lifted its stake in shares of Travere Therapeutics by 4.3% during the 3rd quarter. Creative Planning now owns 23,938 shares of the company’s stock valued at $335,000 after buying an additional 995 shares in the last quarter. Forefront Analytics LLC increased its stake in Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after purchasing an additional 1,237 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Travere Therapeutics by 9.2% in the first quarter. ProShare Advisors LLC now owns 18,421 shares of the company’s stock worth $142,000 after buying an additional 1,557 shares during the last quarter. Rice Hall James & Associates LLC lifted its stake in shares of Travere Therapeutics by 3.8% during the second quarter. Rice Hall James & Associates LLC now owns 76,174 shares of the company’s stock worth $626,000 after buying an additional 2,774 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Travere Therapeutics by 10.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,009 shares of the company’s stock worth $240,000 after buying an additional 2,948 shares during the period.

Travere Therapeutics Company Profile

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.