Travere Therapeutics (NASDAQ:TVTX) Trading Up 6.7% - What's Next?

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) were up 6.7% during trading on Wednesday . The company traded as high as $19.11 and last traded at $19.35. Approximately 167,073 shares traded hands 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 Ratings Changes

Several equities analysts have recently issued reports on the company. Evercore ISI boosted their price objective on Travere Therapeutics from $33.00 to $45.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Travere Therapeutics in a report on Friday, February 21st. Canaccord Genuity Group boosted their target price on shares of Travere Therapeutics from $22.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. upped their price target on shares of Travere Therapeutics from $42.00 to $44.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Finally, Citigroup increased their target price on shares of Travere Therapeutics from $31.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Travere Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $30.62.

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Travere Therapeutics Trading Up 3.1 %

The stock has a market cap of $1.75 billion, a P/E ratio of -4.81 and a beta of 0.75. 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 business's 50 day simple moving average is $20.33 and its 200 day simple moving average is $17.77.

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

Insider Activity

In related news, SVP William E. Rote sold 2,437 shares of the business's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total value of $47,424.02. Following the sale, the senior vice president now directly owns 83,170 shares of the company's stock, valued at approximately $1,618,488.20. The trade was a 2.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sandra Calvin sold 54,244 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the sale, the chief accounting officer now directly owns 54,410 shares in the company, valued at $1,360,250. This trade represents a 49.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,335 shares of company stock worth $4,453,012. Insiders own 3.75% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TVTX. Driehaus Capital Management LLC lifted its stake in 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 purchasing an additional 1,904,733 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Travere Therapeutics in the 4th quarter valued at approximately $21,075,000. RA Capital Management L.P. bought a new position in Travere Therapeutics in the 4th quarter valued at approximately $20,033,000. Jennison Associates LLC bought a new position in shares of Travere Therapeutics during the fourth quarter valued at $14,222,000. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Travere Therapeutics by 36.7% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company's stock worth $37,875,000 after buying an additional 583,836 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.