Travere Therapeutics (NASDAQ:TVTX) CEO Eric Dube Sells 108,493 Shares

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric Dube sold 108,493 shares of the firm’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $64.61, for a total transaction of $7,009,732.73. Following the sale, the chief executive officer owned 432,886 shares of the company’s stock, valued at approximately $27,968,764.46. The trade was a 20.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Trading Up 2.0%

Shares of Travere Therapeutics stock traded up $1.26 during trading hours on Thursday, hitting $64.74. The company’s stock had a trading volume of 1,384,694 shares, compared to its average volume of 1,246,848. The stock has a market cap of $6.10 billion, a price-to-earnings 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 twelve month low of $22.06 and a twelve month high of $68.73. The firm has a fifty day moving average of $61.63 and a 200-day moving average of $48.50.

Travere Therapeutics (NASDAQ:TVTX) last posted 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 firm had revenue of $169.58 million during the quarter, compared to the consensus estimate of $157.27 million. During the same quarter last year, the firm earned $0.13 EPS. The firm’s revenue for the quarter was up 48.2% on a year-over-year basis. Research analysts forecast that Travere Therapeutics, Inc. will post -0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TVTX. Evercore set a $78.00 price objective on Travere Therapeutics in a research note on Monday, August 10th. Weiss Ratings downgraded shares of Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 23rd. Canaccord Genuity Group lifted their price target on shares of Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Piper Sandler reiterated an “overweight” rating on shares of Travere Therapeutics in a report on Monday, August 17th. Finally, Guggenheim increased their price objective on shares of Travere Therapeutics from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Travere Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Institutional Trading of Travere Therapeutics

A number of large investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake 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 raised its position in shares of Travere Therapeutics by 1.4% during the 2nd quarter. Corient Private Wealth LP now owns 48,125 shares of the company’s stock worth $2,734,000 after purchasing an additional 648 shares during the period. ProShare Advisors LLC lifted its holdings 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 worth $726,000 after purchasing an additional 756 shares during the last quarter. Allworth Financial LP acquired a new position in Travere Therapeutics during the 2nd quarter valued at approximately $47,000. Finally, Swiss National Bank boosted its position in Travere Therapeutics by 0.6% during the 1st quarter. Swiss National Bank now owns 168,100 shares of the company’s stock valued at $4,994,000 after purchasing an additional 1,000 shares during the period.

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.