Jeffrey Meckler Sells 20,000 Shares of Travere Therapeutics (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Jeffrey Meckler sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $67.31, for a total value of $1,346,200.00. Following the completion of the transaction, the director owned 91,500 shares in the company, valued at $6,158,865. This represents a 17.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Price Performance

Shares of NASDAQ TVTX traded down $1.36 during midday trading on Friday, hitting $66.15. 1,149,753 shares of the company’s stock were exchanged, compared to its average volume of 2,016,455. 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 business’s fifty day moving average price is $60.96 and its two-hundred day moving average price is $47.29. The company has a market cap of $6.24 billion, a price-to-earnings ratio of -143.80 and a beta of 1.05. Travere Therapeutics, Inc. has a 12-month low of $22.06 and a 12-month high of $68.73.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results 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. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The business had revenue of $169.58 million during the quarter, compared to analyst estimates of $157.27 million. During the same period in the previous year, the business posted $0.13 earnings per share. Travere Therapeutics’s revenue for the quarter was up 48.2% on a year-over-year basis. As a group, research analysts forecast that Travere Therapeutics, Inc. will post -0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Travere Therapeutics in the second quarter worth about $33,000. GAMMA Investing LLC increased its position in Travere Therapeutics by 53.4% during the 2nd quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after purchasing an additional 211 shares during the period. Fifth Third Bancorp purchased a new stake in shares of Travere Therapeutics in the 1st quarter worth about $35,000. State of Wyoming purchased a new position in shares of Travere Therapeutics during the fourth quarter valued at about $37,000. Finally, Comerica Bank boosted its position in Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after acquiring an additional 492 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Guggenheim boosted their target price on Travere Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. HC Wainwright lifted their price target on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Evercore set a $78.00 price objective on shares of Travere Therapeutics in a report on Monday, August 10th. TD Cowen increased their target price on shares of Travere Therapeutics from $60.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Wedbush lifted their target price on shares of Travere Therapeutics from $61.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $64.09.

Travere Therapeutics Company Profile

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.