Travere Therapeutics (NASDAQ:TVTX) Posts Earnings Results, Misses Expectations By $0.21 EPS

Key Points

• Travere Therapeutics missed earnings expectations: The company reported a quarterly loss of $0.31 per share, $0.21 worse than analysts’ expected loss of $0.10. Revenue of $224.56 million exceeded estimates of $195.29 million.
• Shares fell 2.2% to $49.26 following the results. The company posted a negative net margin of 7.35% and a negative return on equity of 55.15%.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $69.50, although insiders sold approximately 1.29 million shares worth $79.5 million over the past three months.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) issued its quarterly earnings results on Monday. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.21), FiscalAI reports. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The firm had revenue of $224.56 million for the quarter, compared to analyst estimates of $195.29 million.

Travere Therapeutics Stock Down 2.2%

TVTX traded down $1.13 during trading on Monday, reaching $49.26. The company had a trading volume of 2,761,343 shares, compared to its average volume of 2,009,096. The company has a market cap of $4.64 billion, a P/E ratio of -107.08 and a beta of 1.11. Travere Therapeutics has a 12 month low of $22.59 and a 12 month high of $68.73. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.99. The business's fifty day moving average price is $59.06 and its 200 day moving average price is $46.46.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, EVP Peter Heerma sold 8,282 shares of the stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $65.07, for a total transaction of $538,909.74. Following the completion of the transaction, the executive vice president owned 117,066 shares in the company, valued at approximately $7,617,484.62. This represents a 6.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William E. Rote sold 112,850 shares of Travere Therapeutics stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $63.33, for a total value of $7,146,790.50. Following the completion of the sale, the insider directly owned 98,197 shares in the company, valued at $6,218,816.01. This represents a 53.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,294,029 shares of company stock valued at $79,454,261 over the last three months. Insiders own 4.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on TVTX shares. Evercore set a $78.00 target price on shares of Travere Therapeutics in a research report on Monday, August 10th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Travere Therapeutics in a research note on Friday, September 18th. HC Wainwright reiterated a "buy" rating and issued a $67.00 target price on shares of Travere Therapeutics in a report on Tuesday, September 22nd. TD Cowen lifted their price target on shares of Travere Therapeutics from $60.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Finally, Piper Sandler reissued an "overweight" rating on shares of Travere Therapeutics in a research report on Monday, August 17th. Ten analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $69.50.

About Travere Therapeutics

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare diseases, with an emphasis on serious kidney conditions. The company's work centers on addressing diseases with limited treatment options and improving outcomes for patients with progressive renal disorders.

Travere's lead commercial product is FILSPARI (sparsentan), an oral treatment for adults with primary immunoglobulin A nephropathy (IgA nephropathy) who are at risk of disease progression.

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