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

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Jula Inrig sold 2,066 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $19.10, for a total transaction of $39,460.60. Following the sale, the insider now directly owns 59,883 shares of the company’s stock, valued at approximately $1,143,765.30. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $18.76, for a total transaction of $8,254.40.

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX opened at $18.71 on Tuesday. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The firm has a fifty day moving average price of $18.14 and a 200 day moving average price of $13.90. Travere Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $20.33. The firm 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 issued its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $62.90 million during the quarter, compared to analyst estimates of $60.87 million. During the same quarter in the prior year, the business earned ($1.17) earnings per share. Travere Therapeutics’s revenue for the quarter was up 69.6% on a year-over-year basis. As a group, sell-side analysts expect that Travere Therapeutics, Inc. will post -3.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Travere Therapeutics

Institutional investors have recently bought and sold shares of the business. Aigen Investment Management LP bought a new position in Travere Therapeutics during the third quarter valued at $170,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Travere Therapeutics in the third quarter valued at $673,000. Acadian Asset Management LLC raised its stake in shares of Travere Therapeutics by 202.6% in the second quarter. Acadian Asset Management LLC now owns 144,901 shares of the company’s stock valued at $1,190,000 after acquiring an additional 97,020 shares during the period. Millennium Management LLC raised its stake in shares of Travere Therapeutics by 33.9% in the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after acquiring an additional 747,406 shares during the period. Finally, FMR LLC raised its stake in shares of Travere Therapeutics by 27.5% in the third quarter. FMR LLC now owns 147,416 shares of the company’s stock valued at $2,062,000 after acquiring an additional 31,772 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wells Fargo & Company raised shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $9.00 to $27.00 in a report on Monday, October 21st. Canaccord Genuity Group reduced their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a report on Monday, September 30th. Scotiabank upped their target price on shares of Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. Wedbush upped their target price on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Travere Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $23.67.

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.