Travere Therapeutics (NASDAQ:TVTX) Stock: Insider Eric Dube Sells 243,735 Shares

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric Dube sold 243,735 shares of the business’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $53.82, for a total transaction of $13,117,817.70. Following the sale, the chief executive officer directly owned 432,886 shares in the company, valued at approximately $23,297,924.52. This represents a 36.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Price Performance

TVTX traded up $0.89 on Monday, hitting $50.49. 1,296,193 shares of the company were exchanged, compared to its average volume of 1,999,176. The company has a debt-to-equity ratio of 24.58, a quick ratio of 3.99 and a current ratio of 4.05. The business’s fifty day moving average is $61.45 and its 200 day moving average is $52.78. Travere Therapeutics, Inc. has a fifty-two week low of $22.59 and a fifty-two week high of $68.73. The firm has a market capitalization of $4.76 billion, a P/E ratio of -109.76 and a beta of 1.13.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $169.58 million during the quarter, compared to analysts’ expectations of $157.27 million. During the same period last year, the company posted $0.13 earnings per share. The firm’s quarterly revenue was up 48.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Travere Therapeutics, Inc. will post -0.54 EPS for the current year.

Hedge Funds Weigh In On Travere Therapeutics

A number of institutional investors have recently modified their holdings of TVTX. Jupiter Topco LLC acquired a new stake in Travere Therapeutics during the second quarter worth approximately $643,299,000. Bank of America Corp DE purchased a new stake in Travere Therapeutics in the 2nd quarter worth approximately $259,527,000. Wellington Management Group LLP raised its holdings in Travere Therapeutics by 50.0% in the 2nd quarter. Wellington Management Group LLP now owns 1,533,080 shares of the company’s stock valued at $87,094,000 after acquiring an additional 510,808 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Travere Therapeutics by 168.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,145,414 shares of the company’s stock worth $67,442,000 after purchasing an additional 718,109 shares during the period. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of Travere Therapeutics by 4.5% during the first quarter. Stephens Investment Management Group LLC now owns 1,798,466 shares of the company’s stock worth $53,432,000 after purchasing an additional 76,843 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TVTX. Piper Sandler restated an “overweight” rating on shares of Travere Therapeutics in a report on Monday, August 17th. Wedbush reaffirmed an “outperform” rating and set a $76.00 price objective on shares of Travere Therapeutics in a report on Tuesday, September 22nd. Evercore set a $78.00 target price on Travere Therapeutics in a research report on Monday, August 10th. Guggenheim lifted their price target on Travere Therapeutics from $75.00 to $89.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th. Finally, TD Cowen boosted their price objective on shares of Travere Therapeutics from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.50.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare diseases, with an emphasis on serious kidney conditions. The company’s work centers on addressing diseases with limited treatment options and improving outcomes for patients with progressive renal disorders.

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