Travere Therapeutics, Inc. (NASDAQ:TVTX – Get Free Report)’s share price gapped down prior to trading on Friday after Evercore ISI lowered their price target on the stock from $30.00 to $14.00. The stock had previously closed at $7.64, but opened at $7.38. Travere Therapeutics shares last traded at $7.66, with a volume of 667,955 shares traded.
Several other research firms have also commented on TVTX. JPMorgan Chase & Co. assumed coverage on Travere Therapeutics in a research report on Friday, July 21st. They issued an “overweight” rating and a $26.00 price objective on the stock. Canaccord Genuity Group dropped their target price on Travere Therapeutics from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, July 18th. William Blair cut Travere Therapeutics from an “outperform” rating to a “market perform” rating in a report on Thursday. Bank of America dropped their price objective on shares of Travere Therapeutics from $41.00 to $27.00 in a research note on Friday. Finally, Piper Sandler decreased their target price on shares of Travere Therapeutics from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, August 18th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.77.
Insiders Place Their Bets
In other news, CEO Eric M. Dube sold 4,455 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $14.71, for a total value of $65,533.05. Following the sale, the chief executive officer now owns 242,595 shares in the company, valued at approximately $3,568,572.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Eric M. Dube sold 4,455 shares of Travere Therapeutics stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $14.71, for a total value of $65,533.05. Following the completion of the transaction, the chief executive officer now owns 242,595 shares in the company, valued at approximately $3,568,572.45. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP William E. Rote sold 1,815 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $14.71, for a total value of $26,698.65. Following the sale, the senior vice president now directly owns 61,173 shares in the company, valued at $899,854.83. The disclosure for this sale can be found here. Insiders sold a total of 6,727 shares of company stock valued at $98,954 in the last ninety days. Corporate insiders own 3.75% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of TVTX. Envestnet Asset Management Inc. boosted its stake in Travere Therapeutics by 13.4% in the first quarter. Envestnet Asset Management Inc. now owns 10,362 shares of the company’s stock valued at $267,000 after acquiring an additional 1,224 shares during the period. US Bancorp DE increased its position in Travere Therapeutics by 1,372.3% in the first quarter. US Bancorp DE now owns 1,487 shares of the company’s stock worth $38,000 after buying an additional 1,386 shares during the period. MetLife Investment Management LLC lifted its stake in Travere Therapeutics by 58.5% in the first quarter. MetLife Investment Management LLC now owns 33,799 shares of the company’s stock valued at $871,000 after buying an additional 12,475 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Travere Therapeutics by 3.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,099,058 shares of the company’s stock valued at $28,321,000 after acquiring an additional 40,555 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in shares of Travere Therapeutics by 43.1% during the first quarter. Canada Pension Plan Investment Board now owns 731,000 shares of the company’s stock worth $18,838,000 after acquiring an additional 220,000 shares during the last quarter.
Travere Therapeutics Stock Performance
The firm has a market cap of $574.58 million, a price-to-earnings ratio of -1.64 and a beta of 0.42. The stock’s fifty day moving average is $14.59 and its two-hundred day moving average is $17.21. The company has a debt-to-equity ratio of 3.23, a quick ratio of 3.86 and a current ratio of 3.99.
Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The company reported ($1.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.03. Travere Therapeutics had a negative return on equity of 273.80% and a negative net margin of 136.00%. The company had revenue of $59.70 million for the quarter, compared to analysts’ expectations of $53.93 million. On average, analysts expect that Travere Therapeutics, Inc. will post -4.59 earnings per share for the current fiscal year.
Travere Therapeutics Company Profile
Travere Therapeutics, Inc, a biopharmaceutical company, focuses on the identification, development, commercialization, and delivering of therapies for the treatment of rare diseases. Its marketed products include Chenodal, a synthetic oral form of chenodeoxycholic acid for the treatment of radiolucent stones in gallbladders; Cholbam, a cholic acid capsule to treat pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects, as well as for adjunctive treatment of patients with peroxisomal disorders; and Thiola and Thiola EC, a tiopronin tablet for the treatment of homozygous cystinuria.