Travere Therapeutics (NASDAQ:TVTX) Director Timothy Coughlin Sells 10,000 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Timothy Coughlin sold 10,000 shares of Travere Therapeutics stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.07, for a total transaction of $500,700.00. Following the completion of the sale, the director owned 56,250 shares in the company, valued at approximately $2,816,437.50. This trade represents a 15.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Stock Down 0.8%

Shares of NASDAQ TVTX opened at $53.38 on Wednesday. The company’s 50-day simple moving average is $42.63 and its 200-day simple moving average is $35.50. Travere Therapeutics, Inc. has a 52-week low of $13.88 and a 52-week high of $54.38. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of -232.08 and a beta of 1.13. The company has a quick ratio of 3.08, a current ratio of 3.13 and a debt-to-equity ratio of 3.16.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.29. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The business had revenue of $127.20 million for the quarter, compared to analyst estimates of $136.23 million. During the same quarter last year, the business earned ($0.47) earnings per share. The company’s revenue for the quarter was up 55.6% compared to the same quarter last year. Equities analysts predict that Travere Therapeutics, Inc. will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Travere Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of TVTX. State Street Corp lifted its holdings in shares of Travere Therapeutics by 47.8% in the 4th quarter. State Street Corp now owns 4,756,666 shares of the company’s stock worth $181,752,000 after acquiring an additional 1,538,827 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Travere Therapeutics by 3,331.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock worth $28,715,000 after acquiring an additional 1,166,460 shares during the last quarter. Fiera Capital Corp acquired a new position in shares of Travere Therapeutics in the 4th quarter worth approximately $33,398,000. Perceptive Advisors LLC acquired a new position in shares of Travere Therapeutics in the 2nd quarter worth approximately $12,347,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Travere Therapeutics in the 2nd quarter worth approximately $10,348,000.

Analyst Ratings Changes

Several brokerages have recently issued reports on TVTX. HC Wainwright lifted their target price on shares of Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Citigroup boosted their price target on shares of Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday. Wells Fargo & Company boosted their price target on shares of Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Wall Street Zen lowered shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Guggenheim boosted their price target on shares of Travere Therapeutics from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.83.

About Travere Therapeutics

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.