Travere Therapeutics (NASDAQ:TVTX) Shares Down 8% – What’s Next?

Travere Therapeutics, Inc. (NASDAQ:TVTX) shares were down 8% on Monday . The company traded as low as $17.60 and last traded at $18.10. Approximately 284,601 shares changed hands during trading, a decline of 81% from the average daily volume of 1,473,363 shares. The stock had previously closed at $19.68.

Analyst Ratings Changes

TVTX has been the topic of several research reports. Citigroup upped their target price on Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Canaccord Genuity Group increased their price objective on Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. raised their price objective on Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Travere Therapeutics in a research report on Friday, February 21st. Finally, Scotiabank increased their price target on shares of Travere Therapeutics from $27.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.62.

Travere Therapeutics Trading Down 10.6 %

The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The company’s 50-day moving average is $20.76 and its 200 day moving average is $18.53. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -4.29 and a beta of 0.75.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Thursday, February 20th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). The business had revenue of $74.79 million for the quarter, compared to analyst estimates of $72.38 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. Research analysts predict that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Insider Transactions at Travere Therapeutics

In other news, insider Peter Heerma sold 1,584 shares of Travere Therapeutics stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total value of $30,000.96. Following the sale, the insider now directly owns 106,374 shares of the company’s stock, valued at $2,014,723.56. The trade was a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jula Inrig sold 2,066 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $19.10, for a total transaction of $39,460.60. Following the sale, the insider now directly owns 59,883 shares of the company’s stock, valued at $1,143,765.30. The trade was a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,335 shares of company stock valued at $4,194,712 in the last three months. 3.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Driehaus Capital Management LLC boosted its stake in Travere Therapeutics by 608.1% during the fourth quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company’s stock worth $38,637,000 after buying an additional 1,904,733 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Travere Therapeutics during the 4th quarter worth $21,075,000. RA Capital Management L.P. acquired a new position in shares of Travere Therapeutics during the 4th quarter valued at about $20,033,000. Jennison Associates LLC acquired a new position in shares of Travere Therapeutics during the 4th quarter valued at about $14,222,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Travere Therapeutics by 36.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company’s stock valued at $37,875,000 after purchasing an additional 583,836 shares during the period.

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.