Christopher R. Cline Sells 865 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Christopher R. Cline sold 865 shares of the firm’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 transaction of $16,383.10. Following the transaction, the chief financial officer now directly owns 73,730 shares of the company’s stock, valued at $1,396,446.20. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock opened at $20.31 on Friday. The company has a 50-day simple moving average of $18.33 and a two-hundred day simple moving average of $14.91. Travere Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $21.56. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -4.46 and a beta of 0.70. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The firm had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. During the same quarter last year, the company earned ($1.17) EPS. The company’s revenue was up 69.6% on a year-over-year basis. Analysts forecast that Travere Therapeutics, Inc. will post -3.92 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TVTX shares. Barclays boosted their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. HC Wainwright raised their price target on Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Guggenheim upped their price objective on Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Wedbush raised their target price on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Finally, Cantor Fitzgerald initiated coverage on shares of Travere Therapeutics in a research note on Friday, January 10th. They issued an “overweight” rating for the company. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Hedge Funds Weigh In On Travere Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in TVTX. Federated Hermes Inc. acquired a new position in Travere Therapeutics during the second quarter valued at approximately $343,000. XTX Topco Ltd grew its position in Travere Therapeutics by 110.5% in the second quarter. XTX Topco Ltd now owns 54,262 shares of the company’s stock valued at $446,000 after acquiring an additional 28,480 shares during the last quarter. Sei Investments Co. acquired a new position in Travere Therapeutics during the second quarter worth about $117,000. DRW Securities LLC bought a new position in shares of Travere Therapeutics in the second quarter worth about $95,000. Finally, Bank of Montreal Can acquired a new stake in shares of Travere Therapeutics in the 2nd quarter valued at approximately $625,000.

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.