Travere Therapeutics (NASDAQ:TVTX) Releases Earnings Results, Beats Estimates By $0.01 EPS

Travere Therapeutics (NASDAQ:TVTX) issued its quarterly earnings data on Thursday. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.01, Briefing.com reports. Travere Therapeutics had a negative return on equity of 360.96% and a negative net margin of 172.75%. The company had revenue of $62.90 million during the quarter, compared to analyst estimates of $60.87 million. During the same quarter in the previous year, the company posted ($1.17) earnings per share. Travere Therapeutics’s revenue was up 69.6% compared to the same quarter last year.

Travere Therapeutics Trading Up 0.4 %

Shares of TVTX opened at $17.57 on Friday. The company’s fifty day simple moving average is $14.53 and its 200-day simple moving average is $10.09. The company has a market cap of $1.34 billion, a P/E ratio of -3.86 and a beta of 0.70. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $19.25.

Insider Buying and Selling

In related news, Director Gary A. Lyons sold 40,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $14.73, for a total value of $589,200.00. Following the sale, the director now directly owns 51,000 shares of the company’s stock, valued at $751,230. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Christopher R. Cline sold 2,490 shares of Travere Therapeutics stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $28,684.80. Following the completion of the sale, the chief financial officer now directly owns 74,595 shares in the company, valued at approximately $859,334.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary A. Lyons sold 40,000 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $14.73, for a total transaction of $589,200.00. Following the completion of the transaction, the director now owns 51,000 shares in the company, valued at approximately $751,230. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,707 shares of company stock valued at $1,504,312. Company insiders own 3.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TVTX shares. Guggenheim raised their target price on Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Canaccord Genuity Group cut their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Barclays upped their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $9.00 to $27.00 in a research note on Monday, October 21st. Finally, Wedbush upped their price objective on Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.85.

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.