Travere Therapeutics (NASDAQ:TVTX) Posts Earnings Results, Beats Expectations By $0.08 EPS

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.47) EPS for the quarter, beating analysts' consensus estimates of ($0.55) by $0.08, Zacks reports. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The business had revenue of $81.73 million during the quarter, compared to the consensus estimate of $77.44 million. During the same quarter in the prior year, the company posted ($1.76) earnings per share. The firm's revenue was up 83.3% on a year-over-year basis.

Travere Therapeutics Stock Up 1.9 %

Shares of TVTX traded up $0.39 during mid-day trading on Friday, hitting $21.15. 2,333,802 shares of the company's stock were exchanged, compared to its average volume of 1,523,808. The company has a 50-day simple moving average of $18.08 and a 200 day simple moving average of $18.74. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The company has a market cap of $1.88 billion, a PE ratio of -5.16 and a beta of 0.84. Travere Therapeutics has a 52 week low of $6.01 and a 52 week high of $25.29.

Insider Buying and Selling

In other news, SVP William E. Rote sold 8,951 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $19.78, for a total transaction of $177,050.78. Following the completion of the transaction, the senior vice president now directly owns 95,719 shares in the company, valued at $1,893,321.82. This represents a 8.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jula Inrig sold 4,207 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $20.12, for a total value of $84,644.84. Following the completion of the transaction, the insider now owns 85,236 shares of the company's stock, valued at $1,714,948.32. The trade was a 4.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 156,330 shares of company stock worth $3,507,377. 4.06% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Evercore ISI upped their price target on Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Bank of America increased their target price on shares of Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Cantor Fitzgerald restated an "overweight" rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. Wedbush reaffirmed an "outperform" rating and set a $30.00 price objective on shares of Travere Therapeutics in a research note on Friday. Finally, Guggenheim reissued a "buy" rating and issued a $47.00 target price on shares of Travere Therapeutics in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Travere Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.79.

Travere Therapeutics Company Profile

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.

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