Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Jeffrey A. Meckler Sells 40,000 Shares

by · The Markets Daily

Travere Therapeutics, Inc. (NASDAQ:TVTX – Get Free Report) Director Jeffrey A. Meckler sold 40,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $14.06, for a total value of $562,400.00. Following the sale, the director now owns 81,000 shares of the company’s stock, valued at approximately $1,138,860. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $13.99 on Wednesday. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -6.66 and a beta of 0.71. Travere Therapeutics, Inc. has a one year low of $5.12 and a one year high of $15.36. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. The business’s 50-day simple moving average is $10.83 and its 200 day simple moving average is $8.54.

Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last released 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 analysts’ expectations 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, sell-side analysts predict that Travere Therapeutics, Inc. will post -3.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. raised its stake in shares of Travere Therapeutics by 912.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock valued at $18,200,000 after purchasing an additional 1,995,419 shares in the last quarter. Parkman Healthcare Partners LLC increased its holdings in Travere Therapeutics by 76.4% in the fourth quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock valued at $9,159,000 after buying an additional 441,318 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Travere Therapeutics by 79.2% during the first quarter. Russell Investments Group Ltd. now owns 184,623 shares of the company’s stock valued at $1,423,000 after buying an additional 81,611 shares in the last quarter. GSA Capital Partners LLP bought a new position in Travere Therapeutics during the 1st quarter worth approximately $452,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Travere Therapeutics in the 4th quarter worth approximately $5,711,000.

Analyst Ratings Changes

TVTX has been the subject of several research reports. Piper Sandler boosted their price objective on shares of Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Bank of America decreased their price target on shares of Travere Therapeutics from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, September 27th. HC Wainwright cut their price objective on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Canaccord Genuity Group reduced their price objective on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Barclays increased their target price on Travere Therapeutics from $14.00 to $18.00 and gave the company an “overweight” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Travere Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $17.09.

Get Our Latest Stock Report on TVTX

Travere Therapeutics Company Profile

(Get Free Report)

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.

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