Travere Therapeutics (NASDAQ:TVTX) Announces Quarterly Earnings Results

Travere Therapeutics (NASDAQ:TVTX) announced its quarterly earnings results on Thursday. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15), Zacks reports. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%.

Travere Therapeutics Stock Performance

Shares of NASDAQ:TVTX traded up $0.25 during trading on Thursday, hitting $23.58. The stock had a trading volume of 1,320,310 shares, compared to its average volume of 1,582,407. The stock has a 50-day simple moving average of $19.47 and a two-hundred day simple moving average of $16.43. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -5.18 and a beta of 0.72. Travere Therapeutics has a 12-month low of $5.12 and a 12-month high of $25.29. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Insider Buying and Selling

In other Travere Therapeutics news, CAO Sandra Calvin sold 12,090 shares of Travere Therapeutics stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $18.30, for a total transaction of $221,247.00. Following the completion of the transaction, the chief accounting officer now owns 54,927 shares in the company, valued at approximately $1,005,164.10. This trade represents a 18.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Eric M. Dube sold 10,736 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $208,922.56. Following the completion of the sale, the chief executive officer now owns 351,239 shares in the company, valued at $6,835,110.94. The trade was a 2.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 218,425 shares of company stock worth $4,674,259. 3.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TVTX. Piper Sandler raised their price objective on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. HC Wainwright lifted their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Cantor Fitzgerald began coverage on shares of Travere Therapeutics in a research report on Friday, January 10th. They set an “overweight” rating for the company. Evercore ISI raised their target price on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Scotiabank upped their price target on Travere Therapeutics from $27.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.77.

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.