Travere Therapeutics (NASDAQ:TVTX) Shares Gap Down – Time to Sell?

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) gapped down before the market opened on Wednesday . The stock had previously closed at $14.15, but opened at $13.56. Travere Therapeutics shares last traded at $13.37, with a volume of 108,037 shares.

Wall Street Analyst Weigh In

TVTX has been the subject of a number of research reports. HC Wainwright raised their price objective on Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. JPMorgan Chase & Co. lifted their price target on shares of Travere Therapeutics from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Cantor Fitzgerald restated an “overweight” rating on shares of Travere Therapeutics in a report on Thursday, April 3rd. Scotiabank lifted their price objective on shares of Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a report on Wednesday, February 12th. Finally, Evercore ISI boosted their target price on shares of Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $31.62.

Travere Therapeutics Stock Up 7.5 %

The stock has a 50-day moving average of $19.73 and a 200 day moving average of $18.57. The company has a market capitalization of $1.29 billion, a PE ratio of -3.54 and a beta of 0.84. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.15). The business had revenue of $74.79 million for the quarter, compared to analysts’ expectations of $72.38 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. Sell-side analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Eric M. Dube sold 10,736 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total value of $208,922.56. Following the sale, the chief executive officer now owns 351,239 shares of the company’s stock, valued at $6,835,110.94. The trade was a 2.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Peter Heerma sold 1,584 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total value of $30,000.96. Following the sale, the insider now owns 106,374 shares in the company, valued at approximately $2,014,723.56. This represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 188,829 shares of company stock valued at $4,146,997. Company insiders own 4.06% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. lifted its holdings in shares of Travere Therapeutics by 9.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company’s stock worth $138,000 after buying an additional 667 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in Travere Therapeutics during the 4th quarter worth approximately $31,000. Sterling Capital Management LLC lifted its stake in Travere Therapeutics by 859.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock worth $41,000 after purchasing an additional 2,115 shares in the last quarter. Rhumbline Advisers boosted its holdings in Travere Therapeutics by 2.2% in the 4th quarter. Rhumbline Advisers now owns 121,248 shares of the company’s stock valued at $2,112,000 after purchasing an additional 2,640 shares during the period. Finally, Arizona State Retirement System grew its position in shares of Travere Therapeutics by 13.5% during the 4th quarter. Arizona State Retirement System now owns 22,396 shares of the company’s stock valued at $390,000 after purchasing an additional 2,666 shares in 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.