Travere Therapeutics (NASDAQ:TVTX) Trading Up 4.6% - Here's What Happened

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) shares traded up 4.6% during trading on Monday . The stock traded as high as $15.83 and last traded at $15.61. 317,871 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 1,518,105 shares. The stock had previously closed at $14.92.

Analysts Set New Price Targets

TVTX has been the subject of several research analyst reports. Bank of America upped their target price on Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. Evercore ISI increased their price objective on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. HC Wainwright lifted their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. Cantor Fitzgerald restated an "overweight" rating on shares of Travere Therapeutics in a research report on Wednesday. Finally, Scotiabank reiterated an "outperform" rating on shares of Travere Therapeutics in a report on Friday, April 11th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Travere Therapeutics has an average rating of "Moderate Buy" and an average price target of $32.08.

Travere Therapeutics Stock Performance

The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -4.40 and a beta of 0.84. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The firm has a fifty day moving average of $18.34 and a 200 day moving average of $18.61.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.15). The company had revenue of $74.79 million during the quarter, compared to analyst estimates of $72.38 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. As a group, sell-side analysts forecast that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Insiders Place Their Bets

In other news, SVP William E. Rote sold 8,951 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $19.78, for a total transaction of $177,050.78. Following the completion of the sale, the senior vice president now owns 95,719 shares in the company, valued at $1,893,321.82. This trade represents a 8.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sandra Calvin sold 54,244 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total value of $1,356,100.00. Following the completion of the transaction, the chief accounting officer now owns 54,410 shares in the company, valued at $1,360,250. This represents a 49.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 156,330 shares of company stock valued at $3,507,377 over the last ninety days. Company insiders own 3.75% of the company's stock.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds have recently modified their holdings of the business. Rock Springs Capital Management LP lifted its position in Travere Therapeutics by 6.2% in the fourth quarter. Rock Springs Capital Management LP now owns 4,973,649 shares of the company's stock valued at $86,641,000 after buying an additional 289,173 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Travere Therapeutics by 28.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company's stock worth $41,974,000 after purchasing an additional 534,500 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Travere Therapeutics by 608.1% in the 4th quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company's stock valued at $38,637,000 after buying an additional 1,904,733 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Travere Therapeutics by 36.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company's stock worth $37,875,000 after acquiring an additional 583,836 shares in the last quarter. Finally, Emerald Advisers LLC boosted its holdings in Travere Therapeutics by 8.4% during the 4th quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company's stock valued at $37,030,000 after acquiring an additional 165,085 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.