Travere Therapeutics (NASDAQ:TVTX) Stock Price Up 7.2% – Still a Buy?

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) rose 7.2% on Thursday . The company traded as high as $18.67 and last traded at $18.67. Approximately 606,293 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 1,383,476 shares. The stock had previously closed at $17.42.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TVTX shares. Canaccord Genuity Group cut their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $9.00 to $27.00 in a report on Monday, October 21st. Wedbush raised their price objective on Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Citigroup decreased their target price on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Finally, Barclays increased their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.67.

Travere Therapeutics Stock Up 7.6 %

The stock has a market capitalization of $1.46 billion, a PE ratio of -4.12 and a beta of 0.69. The stock’s fifty day simple moving average is $18.07 and its 200-day simple moving average is $13.61. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The firm had revenue of $62.90 million for the quarter, compared to analysts’ expectations of $60.87 million. During the same period in the previous year, the company earned ($1.17) earnings per share. The company’s quarterly revenue was up 69.6% on a year-over-year basis. As a group, sell-side analysts forecast that Travere Therapeutics, Inc. will post -3.94 EPS for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other news, 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 sale, the director now directly owns 51,000 shares in the company, valued at $751,230. This represents a 43.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Sandra Calvin sold 15,000 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $17.22, for a total transaction of $258,300.00. Following the transaction, the chief accounting officer now owns 54,927 shares of the company’s stock, valued at $945,842.94. This trade represents a 21.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,090 shares of company stock valued at $1,068,747 over the last three months. 3.75% of the stock is currently owned by insiders.

Institutional Trading of Travere Therapeutics

A number of large investors have recently modified their holdings of TVTX. Virtu Financial LLC bought a new stake in Travere Therapeutics during the third quarter valued at approximately $301,000. Geode Capital Management LLC increased its stake in Travere Therapeutics by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock valued at $24,222,000 after acquiring an additional 64,744 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Travere Therapeutics by 30.2% during the third quarter. Two Sigma Advisers LP now owns 720,400 shares of the company’s stock worth $10,078,000 after purchasing an additional 167,100 shares during the last quarter. Quarry LP purchased a new position in shares of Travere Therapeutics in the 3rd quarter worth about $105,000. Finally, Parkman Healthcare Partners LLC raised its holdings in shares of Travere Therapeutics by 12.0% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,086,067 shares of the company’s stock valued at $15,194,000 after buying an additional 116,175 shares in the last quarter.

About Travere Therapeutics

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.