Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) traded down 7.6% during mid-day trading on Monday . The company traded as low as $24.19 and last traded at $23.37. 573,194 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 1,780,521 shares. The stock had previously closed at $25.30.
Analyst Ratings Changes
A number of equities research analysts have issued reports on TVTX shares. HC Wainwright reaffirmed a "buy" rating and set a $47.00 price objective on shares of Travere Therapeutics in a report on Friday, September 19th. Stifel Nicolaus raised their price objective on Travere Therapeutics from $20.00 to $25.00 and gave the company a "hold" rating in a research report on Friday, September 12th. Wells Fargo & Company raised their price objective on Travere Therapeutics from $27.00 to $35.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. Jefferies Financial Group set a $35.00 price target on Travere Therapeutics in a report on Wednesday, September 10th. Finally, Wall Street Zen cut Travere Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, September 20th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $34.20.
Get Our Latest Analysis on TVTX
Travere Therapeutics Stock Down 5.0%
The company has a 50-day simple moving average of $19.33 and a 200-day simple moving average of $17.71. The firm has a market cap of $2.14 billion, a PE ratio of -11.78 and a beta of 0.78. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98.
Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.28) by $0.14. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The company had revenue of $94.84 million during the quarter, compared to analysts' expectations of $100.18 million. During the same quarter in the previous year, the business earned ($0.65) EPS. Travere Therapeutics's revenue was up 111.5% compared to the same quarter last year. Analysts expect that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.
Insider Transactions at Travere Therapeutics
In related news, insider Elizabeth E. Reed sold 10,000 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $25.00, for a total value of $250,000.00. Following the completion of the sale, the insider owned 89,878 shares in the company, valued at approximately $2,246,950. The trade was a 10.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 11,388 shares of company stock valued at $272,548. 4.06% of the stock is owned by insiders.
Institutional Investors Weigh In On Travere Therapeutics
Hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Travere Therapeutics during the 2nd quarter worth $33,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Travere Therapeutics during the first quarter valued at about $62,000. Headlands Technologies LLC purchased a new stake in shares of Travere Therapeutics during the second quarter valued at about $73,000. KBC Group NV purchased a new stake in Travere Therapeutics during the first quarter valued at approximately $75,000. Finally, Atria Investments Inc purchased a new stake in Travere Therapeutics during the second quarter valued at approximately $154,000.
About Travere Therapeutics
(
Get Free Report)
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.
Further Reading
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