Insider Selling: Travere Therapeutics (NASDAQ:TVTX) CAO Sells $335,023.75 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) CAO Sandra Calvin sold 5,375 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $62.33, for a total transaction of $335,023.75. Following the completion of the sale, the chief accounting officer directly owned 42,353 shares in the company, valued at approximately $2,639,862.49. This trade represents a 11.26% decrease in their position. The sale was disclosed in a 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 Stock Up 2.0%

Travere Therapeutics stock traded up $1.26 during trading on Thursday, reaching $64.74. The stock 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 stock has a market cap of $6.10 billion, a PE ratio of -140.74 and a beta of 1.05. The business has a 50 day moving average price of $61.63 and a 200 day moving average price of $48.50.

Travere Therapeutics (NASDAQ:TVTX) last announced 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 the consensus estimate 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% compared to the same quarter last year. On average, analysts predict that Travere Therapeutics, Inc. will post -0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TVTX. Evercore set a $78.00 price target on Travere Therapeutics in a research note on Monday, August 10th. Guggenheim upped 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 restated an “overweight” rating on shares of Travere Therapeutics in a research note on Monday, August 17th. Canaccord Genuity Group upped their price target on Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, TD Cowen increased their price target on shares of Travere Therapeutics from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Travere Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $68.00.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds have recently made changes to their positions in the company. Jupiter Topco LLC purchased a new position in shares of Travere Therapeutics during the second quarter worth approximately $643,299,000. Bank of America Corp DE acquired a new stake in Travere Therapeutics during the 2nd quarter worth $259,527,000. Fiera Capital Corp purchased a new position in Travere Therapeutics during the 4th quarter worth $33,398,000. Wellington Management Group LLP grew its position in Travere Therapeutics by 50.0% during the 2nd quarter. Wellington Management Group LLP now owns 1,533,080 shares of the company’s stock worth $87,094,000 after purchasing an additional 510,808 shares during the last quarter. Finally, Perceptive Advisors LLC increased its stake in 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 purchasing an additional 483,565 shares during the period.

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.