Travere Therapeutics, Inc. (NASDAQ:TVTX) Insider Jula Inrig Sells 2,066 Shares

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Jula Inrig sold 2,066 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $19.10, for a total transaction of $39,460.60. Following the completion of the transaction, the insider now directly owns 59,883 shares in the company, valued at $1,143,765.30. This represents a 3.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Jula Inrig also recently made the following trade(s):

• On Monday, January 6th, Jula Inrig sold 440 shares of Travere Therapeutics stock. The stock was sold at an average price of $18.76, for a total transaction of $8,254.40.

Travere Therapeutics Stock Performance

Shares of NASDAQ TVTX opened at $18.71 on Tuesday. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $20.33. The company has a 50 day simple moving average of $18.14 and a two-hundred day simple moving average of $13.90. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -4.11 and a beta of 0.70.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The business had revenue of $62.90 million during the quarter, compared to analysts’ expectations of $60.87 million. During the same period in the previous year, the business posted ($1.17) EPS. The business’s quarterly revenue was up 69.6% compared to the same quarter last year. As a group, analysts predict that Travere Therapeutics, Inc. will post -3.94 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Canaccord Genuity Group cut their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Barclays raised their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Bank of America raised their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Guggenheim raised their price target on shares of Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Citigroup lowered their price target on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, September 27th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Travere Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $23.67.

Institutional Trading of Travere Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of TVTX. Bank of New York Mellon Corp lifted its stake in Travere Therapeutics by 18.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 264,816 shares of the company’s stock valued at $2,177,000 after acquiring an additional 41,048 shares during the period. Rhumbline Advisers increased its holdings in shares of Travere Therapeutics by 17.4% during the 2nd quarter. Rhumbline Advisers now owns 125,660 shares of the company’s stock valued at $1,033,000 after purchasing an additional 18,645 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Travere Therapeutics by 202.6% during the 2nd quarter. Acadian Asset Management LLC now owns 144,901 shares of the company’s stock valued at $1,190,000 after purchasing an additional 97,020 shares in the last quarter. Quest Partners LLC increased its holdings in shares of Travere Therapeutics by 240.6% during the 2nd quarter. Quest Partners LLC now owns 14,336 shares of the company’s stock valued at $118,000 after purchasing an additional 10,127 shares in the last quarter. Finally, Rice Hall James & Associates LLC increased its holdings in shares of Travere Therapeutics by 3.8% during the 2nd quarter. Rice Hall James & Associates LLC now owns 76,174 shares of the company’s stock valued at $626,000 after purchasing an additional 2,774 shares in the last quarter.

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.