Investors Purchase Large Volume of Travere Therapeutics Call Options (NASDAQ:TVTX)

Travere Therapeutics, Inc. (NASDAQ:TVTX) was the target of unusually large options trading activity on Friday. Stock investors acquired 2,322 call options on the stock. This represents an increase of approximately 66% compared to the typical daily volume of 1,399 call options.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TVTX. Zacks Research lowered shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. HC Wainwright reissued a “buy” rating and issued a $47.00 price objective on shares of Travere Therapeutics in a research note on Friday, November 28th. Wells Fargo & Company lifted their target price on shares of Travere Therapeutics from $27.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Cowen reaffirmed a “buy” rating on shares of Travere Therapeutics in a report on Friday, October 31st. Finally, Piper Sandler raised their price target on Travere Therapeutics from $26.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Thirteen investment 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. According to MarketBeat.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $38.71.

Insider Activity

In other news, CFO Christopher R. Cline sold 20,000 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $35.01, for a total value of $700,200.00. Following the completion of the sale, the chief financial officer directly owned 92,083 shares in the company, valued at $3,223,825.83. This represents a 17.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Eric M. Dube sold 27,128 shares of Travere Therapeutics stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $30.12, for a total value of $817,095.36. Following the transaction, the chief executive officer owned 419,173 shares in the company, valued at $12,625,490.76. This trade represents a 6.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 233,368 shares of company stock worth $7,660,972. Company insiders own 4.19% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in shares of Travere Therapeutics by 7.2% during the 1st quarter. Northern Trust Corp now owns 808,687 shares of the company’s stock worth $14,492,000 after acquiring an additional 54,292 shares in the last quarter. Hsbc Holdings PLC increased its position in Travere Therapeutics by 10.4% in the first quarter. Hsbc Holdings PLC now owns 30,737 shares of the company’s stock worth $542,000 after purchasing an additional 2,902 shares during the last quarter. MetLife Investment Management LLC raised its stake in Travere Therapeutics by 10.2% during the first quarter. MetLife Investment Management LLC now owns 49,288 shares of the company’s stock valued at $883,000 after purchasing an additional 4,577 shares in the last quarter. Corebridge Financial Inc. lifted its position in Travere Therapeutics by 9.7% during the first quarter. Corebridge Financial Inc. now owns 41,211 shares of the company’s stock valued at $739,000 after purchasing an additional 3,646 shares during the last quarter. Finally, Ieq Capital LLC lifted its position in Travere Therapeutics by 60.6% during the first quarter. Ieq Capital LLC now owns 33,323 shares of the company’s stock valued at $597,000 after purchasing an additional 12,574 shares during the last quarter.

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX opened at $39.64 on Friday. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of -37.40 and a beta of 0.89. The firm has a fifty day moving average price of $34.14 and a 200 day moving average price of $24.37. Travere Therapeutics has a fifty-two week low of $12.91 and a fifty-two week high of $42.13. The company has a debt-to-equity ratio of 4.23, a quick ratio of 2.71 and a current ratio of 2.75.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.59. Travere Therapeutics had a negative net margin of 20.32% and a negative return on equity of 178.68%. The company had revenue of $164.86 million for the quarter, compared to the consensus estimate of $106.09 million. During the same period in the previous year, the firm posted ($0.70) EPS. Travere Therapeutics’s revenue for the quarter was up 162.1% compared to the same quarter last year. As a group, sell-side analysts expect that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Travere Therapeutics Company Profile

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.