Travere Therapeutics (NASDAQ:TVTX) Issues Earnings Results, Misses Expectations By $0.15 EPS

Travere Therapeutics (NASDAQ:TVTX) released its quarterly earnings results on Thursday. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15), Zacks reports. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%.

Travere Therapeutics Stock Performance

TVTX traded up $0.25 during midday trading on Thursday, reaching $23.58. The company’s stock had a trading volume of 1,324,115 shares, compared to its average volume of 1,592,714. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $25.29. The stock has a market cap of $1.84 billion, a P/E ratio of -5.18 and a beta of 0.72. The company has a fifty day simple moving average of $19.47 and a 200 day simple moving average of $16.43. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TVTX. Barclays lifted their price target on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Scotiabank raised their price objective on Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a report on Wednesday, February 12th. Canaccord Genuity Group lifted their price target on Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald started coverage on shares of Travere Therapeutics in a report on Friday, January 10th. They issued an “overweight” rating on the stock. Finally, Piper Sandler lifted their target price on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.77.

Insider Buying and Selling

In related news, SVP William E. Rote sold 5,200 shares of Travere Therapeutics stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $23.53, for a total value of $122,356.00. Following the completion of the transaction, the senior vice president now directly owns 98,519 shares of the company’s stock, valued at $2,318,152.07. The trade was a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Sandra Calvin sold 15,000 shares of Travere Therapeutics stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $17.22, for a total value of $258,300.00. Following the completion of the sale, the chief accounting officer now owns 54,927 shares of the company’s stock, valued at approximately $945,842.94. The trade was a 21.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 218,425 shares of company stock valued at $4,674,259. 3.75% of the stock is owned by company insiders.

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.