Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) rose 6.7% during mid-day trading on Wednesday . The stock traded as high as $19.11 and last traded at $19.35. Approximately 167,073 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 1,619,552 shares. The stock had previously closed at $18.13.
Analyst Upgrades and Downgrades
TVTX has been the subject of several recent research reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Travere Therapeutics in a research note on Friday, February 21st. Citigroup boosted their price objective on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a "buy" rating in a research report on Monday, February 24th. Canaccord Genuity Group boosted their price objective on shares of Travere Therapeutics from $22.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Evercore ISI boosted their price objective on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Finally, HC Wainwright boosted their price objective 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. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.62.
Get Our Latest Report on TVTX
Travere Therapeutics Price Performance
The company has a 50 day moving average price of $20.33 and a 200-day moving average price of $17.71. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -4.81 and a beta of 0.75.
Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.15). Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The firm had revenue of $74.79 million during the quarter, compared to analyst estimates of $72.38 million. As a group, equities research analysts predict that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.
Insider Activity at Travere Therapeutics
In related news, insider Peter Heerma sold 1,584 shares of the company's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total value of $30,000.96. Following the sale, the insider now directly owns 106,374 shares in the company, valued at $2,014,723.56. This represents a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Sandra Calvin sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $17.22, for a total value of $258,300.00. Following the completion of the sale, the chief accounting officer now owns 54,927 shares in the company, valued at $945,842.94. The trade was a 21.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,335 shares of company stock worth $4,453,012 over the last ninety days. Insiders own 3.75% of the company's stock.
Hedge Funds Weigh In On Travere Therapeutics
A number of institutional investors and hedge funds have recently modified their holdings of TVTX. GF Fund Management CO. LTD. bought a new position in shares of Travere Therapeutics during the 4th quarter worth approximately $31,000. Sterling Capital Management LLC boosted its holdings in shares of Travere Therapeutics by 859.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock worth $41,000 after buying an additional 2,115 shares in the last quarter. R Squared Ltd bought a new position in shares of Travere Therapeutics during the 4th quarter worth approximately $53,000. Gen Wealth Partners Inc bought a new position in shares of Travere Therapeutics during the 4th quarter worth approximately $73,000. Finally, Quarry LP bought a new position in shares of Travere Therapeutics during the 3rd quarter worth approximately $105,000.
About Travere Therapeutics
(
Get Free Report)
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.
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