Insider Selling: Travere Therapeutics (NASDAQ:TVTX) EVP Sells $2,784,977.16 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) EVP Jula Inrig sold 44,674 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $62.34, for a total transaction of $2,784,977.16. Following the transaction, the executive vice president directly owned 100,491 shares in the company, valued at $6,264,608.94. This trade represents a 30.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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. The company had a trading volume of 1,384,694 shares, compared to its average volume of 1,246,848. The company has a quick ratio of 3.99, a current ratio of 4.05 and a debt-to-equity ratio of 24.58. Travere Therapeutics, Inc. has a 52 week low of $22.06 and a 52 week high of $68.73. The company has a 50 day moving average of $61.63 and a 200-day moving average of $48.50. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of -140.74 and a beta of 1.05.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping 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 company had revenue of $169.58 million for the quarter, compared to analyst estimates of $157.27 million. During the same period last year, the business posted $0.13 EPS. The business’s quarterly revenue was up 48.2% on a year-over-year basis. On average, sell-side analysts expect that Travere Therapeutics, Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TVTX shares. Wedbush upped their price target on Travere Therapeutics from $61.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. TD Cowen boosted their price objective on Travere Therapeutics from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Canaccord Genuity Group raised their target price on Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Citigroup lifted their price target on shares of Travere Therapeutics from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, HC Wainwright raised their price objective on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus 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 modified their holdings of the stock. GAMMA Investing LLC grew its position in Travere Therapeutics by 53.4% in the second quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after acquiring an additional 211 shares during the period. Corient Private Wealth LP lifted its holdings in shares of Travere Therapeutics by 1.4% during the second quarter. Corient Private Wealth LP now owns 48,125 shares of the company’s stock valued at $2,734,000 after acquiring an additional 648 shares during the period. ProShare Advisors LLC boosted its stake in shares of Travere Therapeutics by 4.1% in the 4th quarter. ProShare Advisors LLC now owns 19,007 shares of the company’s stock valued at $726,000 after purchasing an additional 756 shares in the last quarter. Allworth Financial LP bought a new stake in shares of Travere Therapeutics in the 2nd quarter worth about $47,000. Finally, Swiss National Bank grew its holdings in shares of Travere Therapeutics by 0.6% in the 1st quarter. Swiss National Bank now owns 168,100 shares of the company’s stock worth $4,994,000 after purchasing an additional 1,000 shares during 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.