Roy D. Baynes Sells 16,000 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Roy D. Baynes sold 16,000 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $20.00, for a total transaction of $320,000.00. Following the completion of the sale, the director now owns 31,000 shares in the company, valued at $620,000. This represents a 34.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Travere Therapeutics Trading Up 6.9 %

Shares of NASDAQ TVTX traded up $1.35 during mid-day trading on Thursday, hitting $20.81. The company’s stock had a trading volume of 2,031,403 shares, compared to its average volume of 1,331,242. Travere Therapeutics, Inc. has a one year low of $5.12 and a one year high of $20.89. The company’s fifty day simple moving average is $18.28 and its 200-day simple moving average is $14.79. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -4.57 and a beta of 0.70.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.01. The firm 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 revenue for the quarter was up 69.6% on a year-over-year basis. During the same period last year, the firm earned ($1.17) earnings per share. On average, sell-side analysts anticipate that Travere Therapeutics, Inc. will post -3.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors have recently made changes to their positions in TVTX. Baader Bank Aktiengesellschaft bought a new stake in Travere Therapeutics in the fourth quarter valued at approximately $192,000. R Squared Ltd bought a new stake in shares of Travere Therapeutics in the 4th quarter valued at $53,000. Diversified Trust Co raised its stake in Travere Therapeutics by 27.5% during the 4th quarter. Diversified Trust Co now owns 14,701 shares of the company’s stock worth $256,000 after buying an additional 3,169 shares during the period. Virtu Financial LLC acquired a new stake in Travere Therapeutics during the 3rd quarter worth $301,000. Finally, Geode Capital Management LLC lifted its holdings in Travere Therapeutics by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock worth $24,222,000 after acquiring an additional 64,744 shares in the last quarter.

Wall Street Analysts Forecast Growth

TVTX has been the topic of several research analyst reports. Canaccord Genuity Group decreased 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. Citigroup dropped their price target on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 27th. Piper Sandler boosted their price objective on Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Wedbush raised their target price on Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Finally, HC Wainwright upped their price target on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.00.

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.