Travere Therapeutics (NASDAQ:TVTX) Shares Gap Down to $7.57

Travere Therapeutics, Inc. (NASDAQ:TVTXGet Free Report)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $7.57, but opened at $7.11. Travere Therapeutics shares last traded at $7.87, with a volume of 211,116 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TVTX. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Travere Therapeutics in a research note on Friday, February 16th. HC Wainwright reissued a “buy” rating and issued a $17.00 price target on shares of Travere Therapeutics in a research note on Wednesday, March 13th. Citigroup raised Travere Therapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $7.00 to $10.00 in a research report on Tuesday, December 5th. Stifel Nicolaus increased their target price on Travere Therapeutics from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Monday, December 18th. Finally, Wells Fargo & Company lifted their price target on Travere Therapeutics from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Friday, February 16th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.85.

Check Out Our Latest Stock Analysis on Travere Therapeutics

Travere Therapeutics Stock Up 0.5 %

The company has a debt-to-equity ratio of 1.88, a current ratio of 3.47 and a quick ratio of 3.41. The business’s fifty day moving average is $8.24 and its two-hundred day moving average is $8.21.

Travere Therapeutics (NASDAQ:TVTXGet Free Report) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($1.16) earnings per share for the quarter, topping the consensus estimate of ($1.27) by $0.11. Travere Therapeutics had a negative return on equity of 177.97% and a negative net margin of 56.02%. The firm had revenue of $45.06 million during the quarter, compared to analysts’ expectations of $41.25 million. Sell-side analysts expect that Travere Therapeutics, Inc. will post -3.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other news, CEO Eric M. Dube sold 7,873 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $8.96, for a total transaction of $70,542.08. Following the completion of the transaction, the chief executive officer now directly owns 234,722 shares of the company’s stock, valued at $2,103,109.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Travere Therapeutics news, SVP William E. Rote sold 4,764 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $8.71, for a total value of $41,494.44. Following the transaction, the senior vice president now owns 80,720 shares of the company’s stock, valued at $703,071.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric M. Dube sold 7,873 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $8.96, for a total value of $70,542.08. Following the sale, the chief executive officer now owns 234,722 shares of the company’s stock, valued at $2,103,109.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,045 shares of company stock worth $439,024. Company insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Institutional investors have recently made changes to their positions in the business. Signaturefd LLC increased its holdings in Travere Therapeutics by 1,656.4% during the fourth quarter. Signaturefd LLC now owns 3,021 shares of the company’s stock valued at $27,000 after buying an additional 2,849 shares during the last quarter. Huntington National Bank increased its stake in shares of Travere Therapeutics by 57.8% in the 2nd quarter. Huntington National Bank now owns 1,943 shares of the company’s stock worth $30,000 after purchasing an additional 712 shares in the last quarter. US Bancorp DE raised its holdings in Travere Therapeutics by 1,372.3% in the 1st quarter. US Bancorp DE now owns 1,487 shares of the company’s stock worth $38,000 after purchasing an additional 1,386 shares during the period. Nisa Investment Advisors LLC lifted its position in Travere Therapeutics by 968.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,650 shares of the company’s stock valued at $51,000 after purchasing an additional 5,121 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in Travere Therapeutics by 31.0% during the third quarter. Tower Research Capital LLC TRC now owns 7,929 shares of the company’s stock valued at $71,000 after purchasing an additional 1,876 shares during the period.

About Travere Therapeutics

(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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