Travere Therapeutics Sees Unusually Large Options Volume (NASDAQ:TVTX)

Key Points

• Travere Therapeutics saw a **300% increase** in call options trading, with **4,027 call options** purchased compared to the average of **1,006**.
• Wall Street analysts are optimistic about Travere, with **thirteen analysts** rating it as a **Buy** and a price target averaging **$33.43**.
• The company's quarterly revenue reached **$94.84 million**, surpassing estimates, and reflected a **111.5% increase** compared to the same quarter last year.

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) was the recipient of unusually large options trading on Monday. Stock investors purchased 4,027 call options on the stock. This is an increase of 300% compared to the average daily volume of 1,006 call options.

Wall Street Analysts Forecast Growth

TVTX has been the subject of several research reports. HC Wainwright reaffirmed a "buy" rating and set a $47.00 price objective on shares of Travere Therapeutics in a report on Wednesday. Stifel Nicolaus raised their price target on Travere Therapeutics from $20.00 to $25.00 and gave the stock a "hold" rating in a research report on Friday. Wall Street Zen raised Travere Therapeutics from a "hold" rating to a "buy" rating in a research report on Monday, September 1st. Jefferies Financial Group set a $35.00 price target on Travere Therapeutics in a research report on Wednesday. Finally, Citigroup reissued a "buy" rating on shares of Travere Therapeutics in a research report on Sunday, August 10th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $34.20.

Travere Therapeutics Trading Down 6.1%

Shares of NASDAQ:TVTX traded down $1.53 during midday trading on Friday, reaching $23.47. The company's stock had a trading volume of 2,942,088 shares, compared to its average volume of 2,571,546. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -11.50 and a beta of 0.79. The company has a quick ratio of 1.98, a current ratio of 2.00 and a debt-to-equity ratio of 9.50. Travere Therapeutics has a 1 year low of $12.57 and a 1 year high of $28.69. The business has a 50 day moving average price of $17.72 and a 200 day moving average price of $17.40.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.28) by $0.14. The business had revenue of $94.84 million during the quarter, compared to the consensus estimate of $100.18 million. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The business's revenue for the quarter was up 111.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.65) earnings per share. Research analysts forecast that Travere Therapeutics will post -1.4 EPS for the current year.

Institutional Investors Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in TVTX. GF Fund Management CO. LTD. purchased a new stake in shares of Travere Therapeutics in the fourth quarter valued at $31,000. Raymond James Financial Inc. purchased a new stake in shares of Travere Therapeutics in the second quarter valued at $33,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Travere Therapeutics in the first quarter valued at $62,000. Gen Wealth Partners Inc purchased a new stake in shares of Travere Therapeutics in the fourth quarter valued at $73,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Travere Therapeutics in the second quarter valued at $73,000.

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.