Travere Therapeutics, Inc. (NASDAQ:TVTX) CAO Sells $258,300.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CAO Sandra Calvin sold 15,000 shares of Travere Therapeutics stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $17.22, for a total value of $258,300.00. Following the sale, the chief accounting officer now directly owns 54,927 shares of the company’s stock, valued at approximately $945,842.94. This trade represents a 21.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Sandra Calvin also recently made the following trade(s):

• On Monday, November 25th, Sandra Calvin sold 12,090 shares of Travere Therapeutics stock. The shares were sold at an average price of $18.30, for a total transaction of $221,247.00.

Travere Therapeutics Stock Down 2.8 %

Shares of NASDAQ:TVTX traded down $0.50 during midday trading on Friday, reaching $17.28. The company had a trading volume of 669,097 shares, compared to its average volume of 1,387,978. Travere Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $20.33. The stock has a market cap of $1.35 billion, a PE ratio of -3.80 and a beta of 0.69. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The business’s 50 day moving average price is $18.11 and its 200 day moving average price is $13.35.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $60.87 million. During the same quarter in the previous year, the firm earned ($1.17) EPS. The business’s quarterly revenue was up 69.6% on a year-over-year basis. Research analysts forecast that Travere Therapeutics, Inc. will post -3.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Guggenheim increased their price target on Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Scotiabank lifted their price objective on Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $9.00 to $27.00 in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. upped their price target on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, September 13th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $23.67.

Institutional Trading of Travere Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TVTX. Bank of New York Mellon Corp increased its position in Travere Therapeutics by 18.3% during the second quarter. Bank of New York Mellon Corp now owns 264,816 shares of the company’s stock worth $2,177,000 after buying an additional 41,048 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in shares of Travere Therapeutics during the 2nd quarter worth approximately $747,000. Rhumbline Advisers raised its stake in Travere Therapeutics by 17.4% in the 2nd quarter. Rhumbline Advisers now owns 125,660 shares of the company’s stock valued at $1,033,000 after acquiring an additional 18,645 shares during the period. Acadian Asset Management LLC lifted its holdings in Travere Therapeutics by 202.6% during the 2nd quarter. Acadian Asset Management LLC now owns 144,901 shares of the company’s stock valued at $1,190,000 after purchasing an additional 97,020 shares during the last quarter. Finally, Quest Partners LLC boosted its position in Travere Therapeutics by 240.6% during the second quarter. Quest Partners LLC now owns 14,336 shares of the company’s stock worth $118,000 after purchasing an additional 10,127 shares during the period.

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.