Travere Therapeutics (NASDAQ:TVTX) Insider Sells $7,146,790.50 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider William Rote sold 112,850 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $63.33, for a total transaction of $7,146,790.50. Following the completion of the transaction, the insider directly owned 98,197 shares of the company’s stock, valued at approximately $6,218,816.01. The trade was a 53.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Stock Up 2.0%

Shares of TVTX traded up $1.26 during midday trading on Thursday, hitting $64.74. The stock had a trading volume of 1,384,694 shares, compared to its average volume of 1,246,848. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of -140.74 and a beta of 1.05. The company has a 50 day simple moving average of $61.63 and a two-hundred day simple moving average of $48.50. Travere Therapeutics, Inc. has a twelve month low of $22.06 and a twelve month high of $68.73. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.99.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, topping 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 return on equity of 55.15% and a negative net margin of 7.35%.Travere Therapeutics’s revenue for the quarter was up 48.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share. On average, analysts anticipate that Travere Therapeutics, Inc. will post -0.54 EPS for the current year.

Analyst Upgrades and Downgrades

TVTX has been the subject of a number of analyst reports. Citigroup lifted their price objective on shares of Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. TD Cowen upped 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. Piper Sandler reiterated an “overweight” rating on shares of Travere Therapeutics in a report on Monday, August 17th. Weiss Ratings downgraded Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 23rd. Finally, Evercore set a $78.00 price objective on Travere Therapeutics in a research note on Monday, August 10th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.00.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds have recently bought and sold shares of TVTX. GAMMA Investing LLC boosted its holdings in Travere Therapeutics by 53.4% in 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 bought a new position in shares of Travere Therapeutics during the first quarter worth approximately $35,000. Allworth Financial LP acquired a new stake in shares of Travere Therapeutics in the second quarter valued at approximately $47,000. Integrated Wealth Concepts LLC bought a new stake in shares of Travere Therapeutics in the second quarter valued at approximately $70,000. Finally, IFP Advisors Inc grew its position in Travere Therapeutics by 11,770.0% during the fourth quarter. IFP Advisors Inc now owns 2,374 shares of the company’s stock worth $91,000 after buying an additional 2,354 shares in the last quarter.

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.