Travere Therapeutics (NASDAQ:TVTX) Trading Down 6%

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) traded down 6% on Monday . The stock traded as low as $7.25 and last traded at $7.25. 249,563 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 1,219,567 shares. The stock had previously closed at $7.71.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wedbush reaffirmed an "outperform" rating and issued a $13.00 price objective on shares of Travere Therapeutics in a report on Friday, February 16th. Wells Fargo & Company upped their price target on shares of Travere Therapeutics from $8.00 to $9.00 and gave the company an "equal weight" rating in a report on Friday, February 16th. Stifel Nicolaus upped their price target on shares of Travere Therapeutics from $8.00 to $10.00 and gave the company a "hold" rating in a report on Monday, December 18th. Guggenheim reissued a "neutral" rating on shares of Travere Therapeutics in a report on Wednesday, March 27th. Finally, Citigroup raised shares of Travere Therapeutics from a "neutral" rating to a "buy" rating and upped their price target for the company from $7.00 to $10.00 in a report on Tuesday, December 5th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $17.85.

Travere Therapeutics Stock Performance

The stock has a market capitalization of $556.36 million, a P/E ratio of -4.54 and a beta of 0.58. The firm has a 50-day moving average of $8.19 and a 200 day moving average of $8.04. The company has a quick ratio of 3.41, a current ratio of 3.47 and a debt-to-equity ratio of 1.88.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings data on Thursday, February 15th. The company reported ($1.16) earnings per share (EPS) 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 analyst estimates of $41.25 million. Research analysts anticipate that Travere Therapeutics, Inc. will post -3.1 EPS for the current fiscal year.

Insider Activity

In related news, CEO Eric M. Dube sold 7,873 shares of Travere Therapeutics stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $8.96, for a total value of $70,542.08. Following the completion of the sale, the chief executive officer now directly owns 234,722 shares in the company, valued at $2,103,109.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Eric M. Dube sold 7,873 shares of Travere Therapeutics stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $8.96, for a total value of $70,542.08. Following the completion of the sale, the chief executive officer now directly owns 234,722 shares in the company, valued at $2,103,109.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric M. Dube sold 19,122 shares of Travere Therapeutics stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $8.70, for a total value of $166,361.40. Following the completion of the sale, the chief executive officer now owns 350,600 shares of the company's stock, valued at $3,050,220. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,045 shares of company stock worth $439,024. 4.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TVTX. Signaturefd LLC boosted 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 worth $27,000 after buying an additional 2,849 shares during the last quarter. US Bancorp DE boosted its holdings in Travere Therapeutics by 1,372.3% during the first quarter. US Bancorp DE now owns 1,487 shares of the company's stock worth $38,000 after buying an additional 1,386 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Travere Therapeutics by 968.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,650 shares of the company's stock worth $51,000 after buying an additional 5,121 shares during the last quarter. Tower Research Capital LLC TRC boosted 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 worth $71,000 after buying an additional 1,876 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Travere Therapeutics by 353.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,690 shares of the company's stock worth $78,000 after buying an additional 6,773 shares during the last quarter.

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.