Travere Therapeutics (NASDAQ:TVTX) Stock Price Up 4.6% – Here’s What Happened

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TVTX shares. Evercore ISI raised their price target on shares of Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Bank of America raised their target price on shares of Travere Therapeutics from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. Scotiabank restated an “outperform” rating on shares of Travere Therapeutics in a research report on Friday, April 11th. HC Wainwright boosted their price objective on Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Travere Therapeutics in a report on Thursday, April 3rd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $32.08.

Travere Therapeutics Stock Up 3.4 %

The firm has a 50-day moving average of $18.89 and a two-hundred day moving average of $18.62. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The firm has a market capitalization of $1.37 billion, a PE ratio of -3.76 and a beta of 0.84.

Travere Therapeutics (NASDAQ:TVTX) 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). Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The firm had revenue of $74.79 million for the quarter, compared to analysts’ expectations of $72.38 million. On average, equities research analysts forecast that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Insider Buying and Selling

In other Travere Therapeutics news, SVP William E. Rote sold 5,200 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $23.53, for a total value of $122,356.00. Following the completion of the transaction, the senior vice president now owns 98,519 shares in the company, valued at approximately $2,318,152.07. This represents a 5.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sandra Calvin sold 54,244 shares of Travere Therapeutics stock in a transaction 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 sale, the chief accounting officer now directly owns 54,410 shares in the company, valued at $1,360,250. The trade was a 49.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 188,877 shares of company stock worth $4,147,627. Corporate insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

Institutional investors have recently made changes to their positions in the stock. 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 worth $86,641,000 after purchasing an additional 289,173 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Travere Therapeutics by 28.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company’s stock valued at $41,974,000 after buying an additional 534,500 shares during the period. Driehaus Capital Management LLC boosted its stake in Travere Therapeutics by 608.1% during the fourth 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 in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in 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 acquiring an additional 583,836 shares during the period. Finally, Emerald Advisers LLC raised its position in Travere Therapeutics by 8.4% in the fourth quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company’s stock worth $37,030,000 after acquiring an additional 165,085 shares in the last quarter.

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.