Travere Therapeutics (NASDAQ:TVTX) Reaches New 12-Month High – Should You Buy?

Travere Therapeutics, Inc. (NASDAQ:TVTX) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $62.75 and last traded at $61.9330, with a volume of 5037 shares. The stock had previously closed at $56.02.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wall Street Zen lowered Travere Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Canaccord Genuity Group upped their price objective on Travere Therapeutics from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. 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 note on Tuesday, April 14th. Guggenheim reaffirmed a “buy” rating on shares of Travere Therapeutics in a report on Wednesday. Finally, TD Cowen lifted their target price on shares of Travere Therapeutics from $45.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $52.58.

Travere Therapeutics Stock Performance

The company has a debt-to-equity ratio of 3.16, a quick ratio of 3.08 and a current ratio of 3.13. The firm has a market capitalization of $5.96 billion, a PE ratio of -278.68 and a beta of 1.12. The firm’s 50 day moving average price is $54.00 and its 200-day moving average price is $40.65.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.29. The firm had revenue of $127.20 million during the quarter, compared to analyst estimates of $136.23 million. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.Travere Therapeutics’s revenue for the quarter was up 55.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.47) EPS. On average, research analysts expect that Travere Therapeutics, Inc. will post -0.56 EPS for the current year.

Insider Activity at Travere Therapeutics

In other news, Director Roy D. Baynes sold 4,500 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $50.00, for a total transaction of $225,000.00. Following the transaction, the director owned 41,500 shares in the company, valued at $2,075,000. This trade represents a 9.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $2,816,437.50. This trade represents a 15.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.44% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Travere Therapeutics

A number of large investors have recently added to or reduced their stakes in TVTX. Stephens Investment Management Group LLC grew its position in shares of Travere Therapeutics by 7.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,721,623 shares of the company’s stock valued at $65,783,000 after purchasing an additional 121,955 shares during the period. Profund Advisors LLC raised its position in shares of Travere Therapeutics by 209.3% during the 4th quarter. Profund Advisors LLC now owns 62,604 shares of the company’s stock worth $2,392,000 after purchasing an additional 42,366 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in Travere Therapeutics in the 4th quarter valued at about $1,104,000. Perceptive Advisors LLC lifted its stake in Travere Therapeutics by 12.7% in the 4th quarter. Perceptive Advisors LLC now owns 4,278,180 shares of the company’s stock valued at $163,469,000 after buying an additional 483,565 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its holdings in Travere Therapeutics by 196.6% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 117,361 shares of the company’s stock worth $3,487,000 after buying an additional 77,793 shares during the last quarter.

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.