Travere Therapeutics (NASDAQ:TVTX) CFO Sells 50,508 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CFO Christopher Cline sold 50,508 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $62.34, for a total value of $3,148,668.72. Following the sale, the chief financial officer owned 87,508 shares of the company’s stock, valued at $5,455,248.72. The trade was a 36.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Price Performance

TVTX traded up $1.26 on Thursday, hitting $64.74. 1,384,694 shares of the company’s stock were exchanged, compared to its average volume of 1,246,848. The firm has a 50-day moving average price of $61.63 and a 200-day moving average price of $48.50. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of -140.74 and a beta of 1.05. Travere Therapeutics, Inc. has a fifty-two week low of $22.06 and a fifty-two week high of $68.73.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.03. The company had revenue of $169.58 million during the quarter, compared to analysts’ expectations of $157.27 million. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. Travere Therapeutics’s revenue was up 48.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.13 EPS. As a group, equities analysts anticipate that Travere Therapeutics, Inc. will post -0.54 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TVTX. GAMMA Investing LLC increased its position in shares of Travere Therapeutics by 53.4% during the second quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after acquiring an additional 211 shares during the last quarter. Allworth Financial LP acquired a new position in shares of Travere Therapeutics in the 2nd quarter worth approximately $47,000. Fifth Third Bancorp purchased a new position in shares of Travere Therapeutics during the 1st quarter worth approximately $35,000. Integrated Wealth Concepts LLC acquired a new stake in Travere Therapeutics in the 2nd quarter valued at approximately $70,000. Finally, IFP Advisors Inc raised its position in Travere Therapeutics by 11,770.0% in the fourth quarter. IFP Advisors Inc now owns 2,374 shares of the company’s stock valued at $91,000 after purchasing an additional 2,354 shares during the period.

Analysts Set New Price Targets

A number of brokerages recently commented on TVTX. Citigroup lifted their price objective on Travere Therapeutics from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Evercore set a $78.00 price target on shares of Travere Therapeutics in a research report on Monday, August 10th. Piper Sandler restated an “overweight” rating on shares of Travere Therapeutics in a research report on Monday, August 17th. Wells Fargo & Company lifted their target price on shares of Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Finally, HC Wainwright boosted their target price on shares of Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.00.

About Travere Therapeutics

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare kidney and immune-mediated diseases. The company’s work is centered on conditions with significant unmet medical needs, including diseases that can lead to progressive kidney damage and kidney failure.

Travere’s principal commercial product is FILSPARI (sparsentan), an oral therapy for adults with primary immunoglobulin A nephropathy, or IgA nephropathy, who are at risk of disease progression.