Travere Therapeutics (NASDAQ:TVTX) Sees Unusually-High Trading Volume Following Analyst Upgrade

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) saw unusually-high trading volume on Monday after Guggenheim upgraded the stock from a neutral rating to a buy rating. Guggenheim now has a $25.00 price target on the stock. Approximately 524,965 shares were traded during mid-day trading, a decline of 57% from the previous session’s volume of 1,221,198 shares.The stock last traded at $11.93 and had previously closed at $10.98.

A number of other equities research analysts have also issued reports on TVTX. JPMorgan Chase & Co. boosted their target price on Travere Therapeutics from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. HC Wainwright boosted their target price on Travere Therapeutics from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday. Piper Sandler boosted their target price on Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Bank of America boosted their target price on Travere Therapeutics from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Barclays boosted their target price on Travere Therapeutics from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.92.

Insider Activity at Travere Therapeutics

In related news, CEO Eric M. Dube sold 21,125 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $243,360.00. Following the transaction, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Eric M. Dube sold 21,125 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $243,360.00. Following the transaction, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher R. Cline sold 2,490 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $28,684.80. Following the transaction, the chief financial officer now directly owns 74,595 shares in the company, valued at $859,334.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,707 shares of company stock valued at $352,712. Company insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TVTX. EntryPoint Capital LLC acquired a new position in Travere Therapeutics in the 1st quarter worth about $32,000. DRW Securities LLC bought a new stake in shares of Travere Therapeutics during the 2nd quarter worth about $95,000. Forefront Analytics LLC boosted its stake in shares of Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after acquiring an additional 1,237 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Travere Therapeutics by 68.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock worth $113,000 after acquiring an additional 5,962 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in shares of Travere Therapeutics during the 2nd quarter worth about $117,000.

Travere Therapeutics Stock Performance

The company has a market cap of $979.02 million, a P/E ratio of -6.12 and a beta of 0.71. The firm has a 50 day moving average price of $9.30 and a 200-day moving average price of $7.86. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04.

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

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.