Travere Therapeutics (NASDAQ:TVTX) CAO Sells $335,023.75 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CAO Sandra Calvin sold 5,375 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $62.33, for a total value of $335,023.75. Following the sale, the chief accounting officer directly owned 42,353 shares of the company’s stock, valued at approximately $2,639,862.49. This represents a 11.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Stock Performance

Travere Therapeutics stock traded up $1.26 during mid-day trading on Thursday, reaching $64.74. 1,384,694 shares of the company were exchanged, compared to its average volume of 1,246,848. The firm’s 50-day simple moving average is $61.63 and its two-hundred day simple moving average is $48.50. Travere Therapeutics, Inc. has a twelve month low of $22.06 and a twelve month high of $68.73. The firm has a market cap of $6.10 billion, a PE ratio of -140.74 and a beta of 1.05. The company has a debt-to-equity ratio of 24.58, a quick ratio of 3.99 and a current ratio of 4.05.

Travere Therapeutics (NASDAQ:TVTX) last released 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. The business had revenue of $169.58 million for the quarter, compared to analyst estimates of $157.27 million. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.The company’s revenue for the quarter was up 48.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 earnings per share. Equities analysts predict that Travere Therapeutics, Inc. will post -0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Travere Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC purchased a new position in shares of Travere Therapeutics in the 2nd quarter valued at about $70,000. JW Asset Management LLC acquired a new stake in shares of Travere Therapeutics in the second quarter valued at about $1,704,000. Nykredit A S acquired a new stake in shares of Travere Therapeutics in the second quarter valued at about $237,000. Allianz Asset Management GmbH purchased a new stake in Travere Therapeutics during the second quarter worth about $2,441,000. Finally, Corient Private Wealth LP boosted its holdings in Travere Therapeutics by 1.4% during the second quarter. Corient Private Wealth LP now owns 48,125 shares of the company’s stock worth $2,734,000 after buying an additional 648 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TVTX shares. TD Cowen boosted their price target on shares of Travere Therapeutics from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. HC Wainwright raised their price objective 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. Guggenheim lifted their price objective on Travere Therapeutics from $65.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Evercore set a $78.00 target price on Travere Therapeutics in a research report on Monday, August 10th. Finally, Wells Fargo & Company increased their target price on Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

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.