Eric M. Dube Sells 21,125 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric M. Dube sold 21,125 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the completion of the transaction, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Travere Therapeutics Stock Performance

Shares of TVTX opened at $12.86 on Tuesday. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96. The firm’s fifty day simple moving average is $9.30 and its two-hundred day simple moving average is $7.86. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $14.62. The stock has a market capitalization of $979.02 million, a P/E ratio of -6.12 and a beta of 0.71.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The business had revenue of $54.12 million for the quarter, compared to the consensus estimate of $49.50 million. Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. As a group, analysts predict that Travere Therapeutics, Inc. will post -3.96 EPS for the current year.

Institutional Trading of Travere Therapeutics

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Travere Therapeutics by 13.6% during the first quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock worth $48,310,000 after acquiring an additional 750,686 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Travere Therapeutics by 33.9% during the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after purchasing an additional 747,406 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Travere Therapeutics by 912.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock worth $18,200,000 after purchasing an additional 1,995,419 shares in the last quarter. Kynam Capital Management LP grew its stake in shares of Travere Therapeutics by 105.6% in the 4th quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock valued at $17,980,000 after buying an additional 1,027,398 shares during the period. Finally, Finepoint Capital LP increased its position in Travere Therapeutics by 60.2% in the 4th quarter. Finepoint Capital LP now owns 1,435,321 shares of the company’s stock valued at $12,904,000 after buying an additional 539,500 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. HC Wainwright upped their price target on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Friday. Bank of America upped their target price on Travere Therapeutics from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. lifted their price target on Travere Therapeutics from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Citigroup upped their price objective on Travere Therapeutics from $14.00 to $23.00 and gave the company a “buy” rating in a research note on Friday. Finally, Piper Sandler lifted their target price on shares of Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.92.

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.