Travere Therapeutics (NASDAQ:TVTX) Director Sells $500,700.00 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Timothy Coughlin sold 10,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.07, for a total transaction of $500,700.00. Following the sale, the director owned 56,250 shares in the company, valued at $2,816,437.50. This represents a 15.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Price Performance

Shares of NASDAQ TVTX traded down $0.37 during mid-day trading on Tuesday, hitting $53.43. 2,088,537 shares of the company’s stock traded hands, compared to its average volume of 2,212,919. The company’s 50-day moving average is $42.17 and its two-hundred day moving average is $35.38. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08. The company has a market capitalization of $4.97 billion, a P/E ratio of -232.29 and a beta of 1.13. Travere Therapeutics, Inc. has a 1 year low of $13.88 and a 1 year high of $54.38.

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. The firm had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $136.23 million. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The business’s revenue was up 55.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.47) EPS. On average, equities analysts anticipate that Travere Therapeutics, Inc. will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Travere Therapeutics by 10.3% during the third quarter. Vanguard Group Inc. now owns 6,613,368 shares of the company’s stock valued at $158,059,000 after purchasing an additional 619,085 shares in the last quarter. State Street Corp boosted its stake in shares of Travere Therapeutics by 47.8% during the fourth quarter. State Street Corp now owns 4,756,666 shares of the company’s stock valued at $181,752,000 after purchasing an additional 1,538,827 shares in the last quarter. Perceptive Advisors LLC boosted its stake in shares of Travere Therapeutics by 12.7% during 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 in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Travere Therapeutics by 27.4% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company’s stock valued at $41,203,000 after purchasing an additional 599,102 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Travere Therapeutics by 28.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,246,779 shares of the company’s stock valued at $85,849,000 after purchasing an additional 494,665 shares in the last quarter.

Analysts Set New Price Targets

TVTX has been the topic of a number of recent analyst reports. Piper Sandler raised shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price objective on the stock in a research report on Tuesday, April 14th. Wells Fargo & Company increased their price objective on shares of Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday. HC Wainwright increased their price objective on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Wall Street Zen lowered shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Guggenheim increased their price objective on shares of Travere Therapeutics from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.83.

About Travere Therapeutics

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.