Insider Selling: Travere Therapeutics (NASDAQ:TVTX) CEO Sells $244,131.35 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric Dube sold 8,135 shares of Travere Therapeutics stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $30.01, for a total transaction of $244,131.35. Following the transaction, the chief executive officer directly owned 419,173 shares in the company, valued at $12,579,381.73. The trade was a 1.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Travere Therapeutics Trading Up 5.6%

TVTX opened at $31.99 on Friday. The firm’s fifty day moving average is $34.30 and its two-hundred day moving average is $27.27. The firm has a market cap of $2.86 billion, a PE ratio of -30.18, a price-to-earnings-growth ratio of 0.99 and a beta of 0.85. Travere Therapeutics, Inc. has a twelve month low of $12.91 and a twelve month 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 released its quarterly earnings data on Thursday, October 30th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.59. The business had revenue of $164.86 million during the quarter, compared to analysts’ expectations of $106.09 million. Travere Therapeutics had a negative net margin of 20.32% and a negative return on equity of 178.68%. The firm’s quarterly revenue was up 162.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.70) EPS. Equities research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup lifted their price objective on Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a report on Friday, October 31st. Piper Sandler upped their price target on shares of Travere Therapeutics from $26.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Zacks Research downgraded shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Wall Street Zen raised shares of Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Twelve investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Travere Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $38.86.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in Travere Therapeutics during the 2nd quarter worth about $33,000. First Horizon Corp acquired a new stake in shares of Travere Therapeutics in the third quarter valued at about $36,000. Comerica Bank increased its position in shares of Travere Therapeutics by 77.5% in the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after acquiring an additional 492 shares during the last quarter. Headlands Technologies LLC bought a new stake in Travere Therapeutics during the second quarter worth about $73,000. Finally, Atria Investments Inc acquired a new position in Travere Therapeutics during the second quarter valued at approximately $154,000.

About Travere Therapeutics

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.