Travere Therapeutics (NASDAQ:TVTX) Stock Price Down 4.2% - Here's Why

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) fell 4.2% during mid-day trading on Tuesday . The company traded as low as $17.81 and last traded at $17.81. 88,018 shares traded hands during trading, a decline of 92% from the average session volume of 1,071,796 shares. The stock had previously closed at $18.59.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. Guggenheim boosted their price target on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Bank of America increased their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. HC Wainwright lowered their price objective on shares of Travere Therapeutics from $23.00 to $18.00 and set a "buy" rating on the stock in a research note on Friday, September 27th. Finally, Scotiabank upped their target price on Travere Therapeutics from $23.00 to $27.00 and gave the stock a "sector outperform" rating in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $23.67.

Travere Therapeutics Price Performance

The stock has a 50-day moving average of $18.22 and a two-hundred day moving average of $14.28. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -3.75 and a beta of 0.70. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The company had revenue of $62.90 million during the quarter, compared to analysts' expectations of $60.87 million. During the same period last year, the company posted ($1.17) earnings per share. The business's revenue for the quarter was up 69.6% on a year-over-year basis. On average, analysts anticipate that Travere Therapeutics, Inc. will post -3.94 EPS for the current year.

Insider Buying and Selling at Travere Therapeutics

In related news, CAO Sandra Calvin sold 12,090 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $18.30, for a total value of $221,247.00. Following the transaction, the chief accounting officer now directly owns 54,927 shares in the company, valued at approximately $1,005,164.10. This trade represents a 18.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jula Inrig sold 2,066 shares of the firm's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $19.10, for a total value of $39,460.60. Following the completion of the sale, the insider now directly owns 59,883 shares in the company, valued at $1,143,765.30. This trade represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,596 shares of company stock valued at $527,262 in the last three months. 3.75% of the stock is currently owned by company insiders.

Institutional Trading of Travere Therapeutics

A number of large investors have recently bought and sold shares of TVTX. Creative Planning grew its holdings in Travere Therapeutics by 4.3% during the 3rd quarter. Creative Planning now owns 23,938 shares of the company's stock worth $335,000 after acquiring an additional 995 shares during the last quarter. Forefront Analytics LLC boosted its stake in Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company's stock worth $109,000 after acquiring an additional 1,237 shares during the last quarter. CWM LLC boosted its position in shares of Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company's stock worth $70,000 after purchasing an additional 3,065 shares in the last quarter. Diversified Trust Co grew its stake in Travere Therapeutics by 27.5% in the fourth quarter. Diversified Trust Co now owns 14,701 shares of the company's stock valued at $256,000 after acquiring an additional 3,169 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Travere Therapeutics by 20.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,969 shares of the company's stock valued at $279,000 after purchasing an additional 3,458 shares during the period.

Travere Therapeutics Company Profile

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.