Travere Therapeutics (NASDAQ:TVTX) Insider Sells $5,988,325.50 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider William Rote sold 96,198 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $62.25, for a total value of $5,988,325.50. Following the transaction, the insider owned 98,197 shares of the company’s stock, valued at $6,112,763.25. This trade represents a 49.49% decrease in their ownership of the stock. The sale 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 Trading Up 2.0%

Travere Therapeutics stock traded up $1.26 during mid-day trading on Thursday, hitting $64.74. 1,384,694 shares of the stock were exchanged, compared to its average volume of 1,246,848. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of -140.74 and a beta of 1.05. Travere Therapeutics, Inc. has a 12 month low of $22.06 and a 12 month high of $68.73. The company has a quick ratio of 3.99, a current ratio of 4.05 and a debt-to-equity ratio of 24.58. The firm’s fifty day simple moving average is $61.63 and its two-hundred day simple moving average is $48.50.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) 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 for the quarter, compared to analyst estimates of $157.27 million. During the same period in the prior year, the firm posted $0.13 EPS. The company’s quarterly revenue was up 48.2% on a year-over-year basis. Analysts forecast that Travere Therapeutics, Inc. will post -0.54 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TVTX. Jupiter Topco LLC bought a new position in shares of Travere Therapeutics during the 2nd quarter worth approximately $643,299,000. Bank of America Corp DE bought a new position in shares of Travere Therapeutics in the second quarter valued at approximately $259,527,000. Perceptive Advisors LLC grew its holdings in shares of Travere Therapeutics by 12.7% in the fourth quarter. Perceptive Advisors LLC now owns 4,278,180 shares of the company’s stock valued at $163,469,000 after acquiring an additional 483,565 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Travere Therapeutics by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 2,143,495 shares of the company’s stock valued at $81,915,000 after acquiring an additional 5,465 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its holdings in 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 acquiring an additional 76,843 shares during the period.

Analyst Ratings Changes

TVTX has been the subject of several research analyst reports. Guggenheim lifted their price objective on Travere Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Piper Sandler reaffirmed an “overweight” rating on shares of Travere Therapeutics in a research note on Monday, August 17th. Weiss Ratings downgraded Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Evercore set a $78.00 price target on Travere Therapeutics in a research note on Monday, August 10th. Finally, Wells Fargo & Company increased their price target on Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $68.00.

About Travere Therapeutics

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.