William E. Rote Sells 2,437 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) SVP William E. Rote sold 2,437 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total transaction of $47,424.02. Following the sale, the senior vice president now owns 83,170 shares of the company’s stock, valued at $1,618,488.20. This trade represents a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Travere Therapeutics Stock Down 2.4 %

TVTX stock opened at $20.31 on Friday. Travere Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $21.56. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The business’s 50 day moving average is $18.33 and its 200-day moving average is $14.87.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.01. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The firm had revenue of $62.90 million for the quarter, compared to analysts’ expectations of $60.87 million. During the same period in the prior year, the business posted ($1.17) earnings per share. The business’s revenue was up 69.6% compared to the same quarter last year. On average, sell-side analysts expect that Travere Therapeutics, Inc. will post -3.92 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Cantor Fitzgerald initiated coverage on Travere Therapeutics in a research note on Friday, January 10th. They set an “overweight” rating for the company. Canaccord Genuity Group lowered their price objective on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $9.00 to $27.00 in a research note on Monday, October 21st. Bank of America raised their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Wedbush upped their price objective on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Hedge Funds Weigh In On Travere Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. abrdn plc bought a new stake in Travere Therapeutics during the fourth quarter worth about $6,829,000. Jennison Associates LLC bought a new stake in Travere Therapeutics during the 4th quarter worth approximately $14,222,000. China Universal Asset Management Co. Ltd. increased its holdings in Travere Therapeutics by 23.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,206 shares of the company’s stock valued at $317,000 after purchasing an additional 3,494 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new position in Travere Therapeutics in the 4th quarter valued at $192,000. Finally, R Squared Ltd acquired a new position in Travere Therapeutics in the fourth quarter worth $53,000.

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.