Travere Therapeutics (NASDAQ:TVTX) Stock Price Up 4.6% - Here's What Happened

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report)'s share price rose 4.6% during mid-day trading on Monday . The stock traded as high as $15.83 and last traded at $15.61. Approximately 317,871 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 1,518,105 shares. The stock had previously closed at $14.92.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Travere Therapeutics from $45.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, April 10th. Scotiabank reaffirmed an "outperform" rating on shares of Travere Therapeutics in a research note on Friday, April 11th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Travere Therapeutics in a research report on Wednesday. HC Wainwright lifted their target price on Travere Therapeutics from $18.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. Finally, Bank of America upped their price target 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. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.08.

Travere Therapeutics Trading Up 4.0 %

The stock has a market capitalization of $1.63 billion, a P/E ratio of -4.47 and a beta of 0.84. The stock's 50 day moving average price is $18.25 and its 200-day moving average price is $18.63. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.73) earnings per share for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.15). The company had revenue of $74.79 million for the quarter, compared to the consensus estimate of $72.38 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. As a group, equities research analysts expect that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Sandra Calvin sold 3,348 shares of Travere Therapeutics stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $20.12, for a total transaction of $67,361.76. Following the completion of the sale, the chief accounting officer now owns 63,654 shares of the company's stock, valued at $1,280,718.48. The trade was a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher R. Cline sold 5,192 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $20.12, for a total transaction of $104,463.04. Following the completion of the transaction, the chief financial officer now owns 90,038 shares in the company, valued at approximately $1,811,564.56. This trade represents a 5.45 % 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 valued at $3,507,377. 3.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Travere Therapeutics

Large investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new position in shares of Travere Therapeutics during the fourth quarter worth $31,000. Sterling Capital Management LLC raised its stake in shares of Travere Therapeutics by 859.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock valued at $41,000 after buying an additional 2,115 shares during the last quarter. R Squared Ltd acquired a new position in shares of Travere Therapeutics in the 4th quarter valued at about $53,000. Gen Wealth Partners Inc acquired a new position in shares of Travere Therapeutics in the 4th quarter valued at about $73,000. Finally, KBC Group NV purchased a new stake in shares of Travere Therapeutics in the first quarter worth about $75,000.

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.