Key Points
- Insider Elizabeth Reed sold 10,000 shares on January 20 at an average price of $27.34 for $273,400, reducing her position by 9.97% to 90,270 shares (about $2.47M).
- Travere's stock opened at $28.25 after a quarter that beat expectations — $0.28 EPS vs. -$0.31 estimate and $164.9M revenue (+162% YoY) — but the company still shows negative ROE and net margin, with analysts holding a Moderate Buy consensus and a $38.86 average price target.
Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) insider Elizabeth Reed sold 10,000 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $27.34, for a total transaction of $273,400.00. Following the completion of the sale, the insider owned 90,270 shares of the company's stock, valued at approximately $2,467,981.80. The trade was a 9.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Travere Therapeutics Trading Up 1.1%
Travere Therapeutics stock opened at $28.25 on Thursday. Travere Therapeutics, Inc. has a 12 month low of $12.91 and a 12 month high of $42.13. The company has a quick ratio of 2.71, a current ratio of 2.75 and a debt-to-equity ratio of 4.23. The stock has a market cap of $2.53 billion, a P/E ratio of -26.65, a P/E/G ratio of 1.01 and a beta of 0.85. The company's fifty day simple moving average is $34.87 and its 200-day simple moving average is $26.75.
Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.59. Travere Therapeutics had a negative return on equity of 178.68% and a negative net margin of 20.32%.The business had revenue of $164.86 million during the quarter, compared to analyst estimates of $106.09 million. During the same period last year, the company earned ($0.70) earnings per share. Travere Therapeutics's quarterly revenue was up 162.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.
Analyst Ratings Changes
TVTX has been the topic of a number of research reports. HC Wainwright restated a "buy" rating and issued a $47.00 price objective on shares of Travere Therapeutics in a report on Friday, November 28th. Piper Sandler boosted their target price on shares of Travere Therapeutics from $26.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 4th. Guggenheim restated a "buy" rating and set a $49.00 price target on shares of Travere Therapeutics in a research note on Wednesday, January 14th. TD Cowen restated a "buy" rating on shares of Travere Therapeutics in a report on Friday, October 31st. Finally, Zacks Research cut shares of Travere Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 12th. Twelve research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $38.86.
Read Our Latest Report on TVTX
Institutional Trading of Travere Therapeutics
A number of institutional investors and hedge funds have recently modified their holdings of the company. Palisades Investment Partners LLC bought a new stake in shares of Travere Therapeutics during the 4th quarter worth $5,264,000. Hennion & Walsh Asset Management Inc. raised its holdings in Travere Therapeutics by 169.6% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 99,229 shares of the company's stock worth $3,792,000 after acquiring an additional 62,419 shares during the period. Assenagon Asset Management S.A. lifted its position in Travere Therapeutics by 347.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 417,742 shares of the company's stock worth $15,962,000 after acquiring an additional 324,387 shares during the last quarter. Diversified Trust Co. boosted its holdings in Travere Therapeutics by 5.7% during the fourth quarter. Diversified Trust Co. now owns 25,044 shares of the company's stock valued at $957,000 after acquiring an additional 1,349 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Travere Therapeutics in the fourth quarter valued at about $224,000.
About Travere Therapeutics
(
Get Free Report)
Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company's mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.
The company's lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.
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