Travere Therapeutics (NASDAQ:TVTX) CEO Sells $12,426,111.45 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric Dube sold 195,841 shares of Travere Therapeutics stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $63.45, for a total transaction of $12,426,111.45. Following the completion of the transaction, the chief executive officer owned 432,886 shares in the company, valued at approximately $27,466,616.70. This trade represents a 31.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 trading hours on Thursday, reaching $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 cap of $6.10 billion, a P/E 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, Inc. has a 52-week low of $22.06 and a 52-week high of $68.73. The firm’s 50 day moving average is $61.63 and its 200 day moving average is $48.50.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, beating 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 business had revenue of $169.58 million for the quarter, compared to the consensus estimate of $157.27 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. The business’s quarterly revenue was up 48.2% compared to the same quarter last year. Analysts predict that Travere Therapeutics, Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wedbush lifted their price objective on Travere Therapeutics from $61.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. 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. Guggenheim lifted their price target on Travere Therapeutics from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Citigroup upped their price objective on Travere Therapeutics from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Canaccord Genuity Group increased their price objective on Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $68.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TVTX. Jupiter Topco LLC purchased a new position in Travere Therapeutics in the second quarter valued at about $643,299,000. Bank of America Corp DE acquired a new stake in shares of Travere Therapeutics in the 2nd quarter worth approximately $259,527,000. Perceptive Advisors LLC grew its holdings in shares of Travere Therapeutics by 12.7% in the 4th quarter. Perceptive Advisors LLC now owns 4,278,180 shares of the company’s stock worth $163,469,000 after acquiring an additional 483,565 shares during the period. Geode Capital Management LLC increased its stake in Travere Therapeutics by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 2,143,495 shares of the company’s stock valued at $81,915,000 after purchasing an additional 5,465 shares in the last quarter. Finally, Stephens Investment Management Group LLC raised 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 purchasing an additional 76,843 shares during the last quarter.

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.