Travere Therapeutics (NASDAQ:TVTX) Posts Quarterly Earnings Results, Beats Estimates By $999.24 EPS

Key Points

• Travere reported an outsized headline EPS of $999.00 for the quarter, beating consensus of ($0.24) by $999.24, though the company still shows a negative return on equity (40.24%) and a negative net margin (5.21%), suggesting the result may reflect one‑time items.
• The stock traded up to $44.95 (market cap ~$4.15B), while insiders have been selling—CEO Eric Dube sold 100,087 shares and insiders sold 453,169 shares worth about $16.37M over the last three months, leaving insiders with roughly 4.44% ownership.
• Large institutional investors have been increasing positions (e.g., State Street, Adage, Renaissance, Wellington), and analysts hold a consensus "Moderate Buy" rating with an average price target of $42.67.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) posted its earnings results on Monday. The company reported $999.00 earnings per share for the quarter, topping analysts' consensus estimates of ($0.24) by $999.24, Zacks reports. Travere Therapeutics had a negative return on equity of 40.24% and a negative net margin of 5.21%.

Travere Therapeutics Stock Performance

Shares of TVTX traded up $0.83 during trading hours on Monday, hitting $44.95. The company had a trading volume of 1,890,011 shares, compared to its average volume of 2,142,074. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of -149.83 and a beta of 1.13. The business has a fifty day moving average of $32.02 and a 200-day moving average of $32.59. Travere Therapeutics has a 12 month low of $13.88 and a 12 month high of $45.43. The company has a quick ratio of 2.70, a current ratio of 2.74 and a debt-to-equity ratio of 2.71.

Insider Buying and Selling

In related news, CEO Eric M. Dube sold 100,087 shares of the company's stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $32.28, for a total value of $3,230,808.36. Following the transaction, the chief executive officer directly owned 432,886 shares in the company, valued at approximately $13,973,560.08. This represents a 18.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Roy D. Baynes sold 32,750 shares of the company's stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $41.29, for a total transaction of $1,352,247.50. Following the completion of the transaction, the director owned 37,500 shares in the company, valued at $1,548,375. This trade represents a 46.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 453,169 shares of company stock valued at $16,369,723. 4.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Travere Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp grew its stake in shares of Travere Therapeutics by 47.8% in the fourth quarter. State Street Corp now owns 4,756,666 shares of the company's stock valued at $181,752,000 after acquiring an additional 1,538,827 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of Travere Therapeutics by 27.4% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company's stock valued at $41,203,000 after acquiring an additional 599,102 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Travere Therapeutics by 28.2% in the fourth quarter. Renaissance Technologies LLC now owns 2,246,779 shares of the company's stock valued at $85,849,000 after acquiring an additional 494,665 shares in the last quarter. Rock Springs Capital Management LP grew its stake in shares of Travere Therapeutics by 2.1% in the fourth quarter. Rock Springs Capital Management LP now owns 2,210,322 shares of the company's stock valued at $84,456,000 after acquiring an additional 45,549 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Travere Therapeutics by 3,331.9% in the third quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company's stock valued at $28,715,000 after acquiring an additional 1,166,460 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TVTX shares. HC Wainwright reaffirmed a "buy" rating and set a $47.00 price objective on shares of Travere Therapeutics in a research report on Tuesday, April 14th. Wall Street Zen lowered shares of Travere Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 21st. Piper Sandler raised shares of Travere Therapeutics from a "neutral" rating to an "overweight" rating and set a $49.00 price objective on the stock in a research report on Tuesday, April 14th. Wedbush increased their price objective on shares of Travere Therapeutics from $39.00 to $44.00 and gave the company an "outperform" rating in a research report on Tuesday, April 14th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Travere Therapeutics in a research report on Wednesday, January 21st. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.67.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc NASDAQ: TVTX is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company's mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company's lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.

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