Travere Therapeutics (NASDAQ:TVTX) Stock Price Down 8% – Here’s What Happened

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Scotiabank lifted their price objective on Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Wednesday, February 12th. Citigroup upped their price target on shares of Travere Therapeutics from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. HC Wainwright increased their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Travere Therapeutics in a report on Friday, February 21st. Finally, Evercore ISI increased their price target on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.62.

Travere Therapeutics Price Performance

The firm has a market cap of $1.56 billion, a PE ratio of -4.29 and a beta of 0.75. 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 firm’s fifty day simple moving average is $20.76 and its two-hundred day simple moving average is $18.53.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) 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 analysts’ expectations 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, research analysts expect that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Insider Buying and Selling

In related news, insider Peter Heerma sold 1,584 shares of Travere Therapeutics stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $18.94, for a total transaction of $30,000.96. Following the completion of the transaction, the insider now directly owns 106,374 shares of the company’s stock, valued at approximately $2,014,723.56. The trade was a 1.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William E. Rote sold 5,200 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $23.53, for a total transaction of $122,356.00. Following the completion of the sale, the senior vice president now directly owns 98,519 shares of the company’s stock, valued at approximately $2,318,152.07. The trade was a 5.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,335 shares of company stock worth $4,194,712. Corporate insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

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

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.