Travere Therapeutics (NASDAQ:TVTX) Director Sells $500,700.00 in 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 value of $500,700.00. Following the transaction, the director owned 56,250 shares of the company’s stock, valued at $2,816,437.50. This trade represents a 15.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Stock Performance

Shares of Travere Therapeutics stock opened at $55.15 on Friday. Travere Therapeutics, Inc. has a 52 week low of $13.97 and a 52 week high of $55.99. The company has a quick ratio of 3.08, a current ratio of 3.13 and a debt-to-equity ratio of 3.16. The business has a 50 day moving average price of $43.54 and a 200-day moving average price of $35.77. The company has a market cap of $5.13 billion, a PE ratio of -239.77 and a beta of 1.13.

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 return on equity of 26.16% and a negative net margin of 4.00%.The company had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $136.23 million. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. Travere Therapeutics’s quarterly revenue was up 55.6% on a year-over-year basis. Equities analysts anticipate that Travere Therapeutics, Inc. will post -0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TVTX. Piper Sandler upgraded shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 target price for the company in a research note on Tuesday, April 14th. JPMorgan Chase & Co. dropped their price target on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. 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 report on Monday. Wall Street Zen downgraded shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Canaccord Genuity Group increased their price objective on shares of Travere Therapeutics from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.83.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in shares of Travere Therapeutics during the 2nd quarter worth $33,000. Fifth Third Bancorp purchased a new stake in Travere Therapeutics during the first quarter worth about $35,000. State of Wyoming purchased a new stake in Travere Therapeutics during the fourth quarter worth about $37,000. Torren Management LLC bought a new stake in Travere Therapeutics in the fourth quarter worth about $38,000. Finally, Comerica Bank boosted its stake in Travere Therapeutics by 77.5% in the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after acquiring an additional 492 shares during the last quarter.

Travere Therapeutics Company Profile

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.