Travere Therapeutics (NASDAQ:TVTX) Shares Gap Up - What's Next?

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $17.87, but opened at $19.12. Travere Therapeutics shares last traded at $18.51, with a volume of 133,475 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. HC Wainwright decreased their price objective on shares of Travere Therapeutics from $23.00 to $18.00 and set a "buy" rating for the company in a research report on Friday, September 27th. Citigroup lowered their price objective on Travere Therapeutics from $23.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, September 27th. Leerink Partners reissued an "outperform" rating and issued a $20.00 price objective on shares of Travere Therapeutics in a research note on Tuesday, October 8th. Wedbush raised their target price on Travere Therapeutics from $17.00 to $25.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their price target on Travere Therapeutics from $20.00 to $23.00 and gave the stock an "overweight" rating in a report on Friday, September 13th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $21.38.

Travere Therapeutics Stock Performance

The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. The company's fifty day moving average price is $12.71 and its 200 day moving average price is $9.35. The company has a market cap of $1.38 billion, a PE ratio of -8.62 and a beta of 0.73.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The firm had revenue of $54.12 million during the quarter, compared to the consensus estimate of $49.50 million. On average, equities research analysts predict that Travere Therapeutics, Inc. will post -3.95 earnings per share for the current year.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CFO Christopher R. Cline sold 2,490 shares of the business's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $28,684.80. Following the transaction, the chief financial officer now owns 74,595 shares of the company's stock, valued at approximately $859,334.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Christopher R. Cline sold 2,490 shares of the firm's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $28,684.80. Following the completion of the sale, the chief financial officer now owns 74,595 shares in the company, valued at approximately $859,334.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gary A. Lyons sold 40,000 shares of the business's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $14.73, for a total transaction of $589,200.00. Following the completion of the transaction, the director now owns 51,000 shares in the company, valued at approximately $751,230. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,707 shares of company stock valued at $1,504,312. 3.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Travere Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in shares of Travere Therapeutics in the fourth quarter valued at $175,000. Los Angeles Capital Management LLC purchased a new stake in Travere Therapeutics during the first quarter valued at about $720,000. Hennion & Walsh Asset Management Inc. boosted its position in Travere Therapeutics by 14.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 40,790 shares of the company's stock worth $314,000 after purchasing an additional 5,123 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Travere Therapeutics by 8.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,178 shares of the company's stock worth $387,000 after purchasing an additional 3,754 shares in the last quarter. Finally, Oak Ridge Investments LLC raised its position in shares of Travere Therapeutics by 13.3% in the first quarter. Oak Ridge Investments LLC now owns 65,926 shares of the company's stock valued at $508,000 after purchasing an additional 7,744 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.