Insider Selling: Travere Therapeutics, Inc. (NASDAQ:TVTX) Insider Sells 2,066 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Jula Inrig sold 2,066 shares of Travere Therapeutics stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $19.10, for a total value of $39,460.60. Following the completion of the transaction, the insider now owns 59,883 shares of the company’s stock, valued at approximately $1,143,765.30. This trade represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Jula Inrig also recently made the following trade(s):

• On Monday, January 6th, Jula Inrig sold 440 shares of Travere Therapeutics stock. The stock was sold at an average price of $18.76, for a total value of $8,254.40.

Travere Therapeutics Price Performance

Shares of TVTX traded down $0.15 during midday trading on Monday, reaching $18.71. The stock had a trading volume of 1,356,877 shares, compared to its average volume of 1,230,192. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -4.11 and a beta of 0.70. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a 12-month low of $5.12 and a 12-month high of $20.33. The company’s 50-day moving average is $18.14 and its 200 day moving average is $13.90.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.01. The business had revenue of $62.90 million for the quarter, compared to analysts’ expectations of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The business’s quarterly revenue was up 69.6% on a year-over-year basis. During the same period last year, the business earned ($1.17) earnings per share. On average, equities analysts predict that Travere Therapeutics, Inc. will post -3.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Wedbush upped their target price on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Scotiabank raised their price target on shares of Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. Guggenheim boosted their price target on shares of Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Leerink Partners reiterated an “outperform” rating and issued a $20.00 price objective on shares of Travere Therapeutics in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.67.

Institutional Trading of Travere Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Creative Planning grew its stake in shares of Travere Therapeutics by 4.3% during the third quarter. Creative Planning now owns 23,938 shares of the company’s stock valued at $335,000 after buying an additional 995 shares during the last quarter. Forefront Analytics LLC grew its position in Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after acquiring an additional 1,237 shares during the last quarter. Rice Hall James & Associates LLC increased its stake in Travere Therapeutics by 3.8% in the 2nd quarter. Rice Hall James & Associates LLC now owns 76,174 shares of the company’s stock worth $626,000 after purchasing an additional 2,774 shares during the period. CWM LLC increased its stake in Travere Therapeutics by 158.5% in the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after purchasing an additional 3,065 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Travere Therapeutics by 20.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,969 shares of the company’s stock valued at $279,000 after purchasing an additional 3,458 shares during the last quarter.

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.