Travere Therapeutics (NASDAQ:TVTX) Director Jeffrey Meckler Sells 20,000 Shares

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Jeffrey Meckler sold 20,000 shares of Travere Therapeutics stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $67.31, for a total value of $1,346,200.00. Following the completion of the transaction, the director owned 91,500 shares in the company, valued at $6,158,865. This trade represents a 17.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $66.17 on Friday. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.99. The business has a 50 day simple moving average of $61.14 and a 200-day simple moving average of $47.42. Travere Therapeutics, Inc. has a 12 month low of $22.06 and a 12 month high of $68.73. The stock has a market capitalization of $6.24 billion, a PE ratio of -143.84 and a beta of 1.05.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The firm had revenue of $169.58 million for the quarter, compared to analyst estimates of $157.27 million. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. Travere Therapeutics’s quarterly revenue was up 48.2% on a year-over-year basis. During the same period last year, the firm posted $0.13 EPS. Equities analysts predict that Travere Therapeutics, Inc. will post -0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TVTX has been the subject of a number of research analyst reports. Guggenheim increased their price target on shares of Travere Therapeutics from $65.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings downgraded shares of Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Wedbush increased their target price on Travere Therapeutics from $61.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Citigroup upped their price objective on Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, HC Wainwright increased their price objective on Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Travere Therapeutics by 13.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,777 shares of the company’s stock worth $1,029,000 after buying an additional 6,831 shares during the last quarter. Norges Bank acquired a new position in Travere Therapeutics in the second quarter valued at $1,051,000. First Trust Advisors LP acquired a new position in Travere Therapeutics in the second quarter valued at $3,538,000. Cresset Asset Management LLC grew its position in Travere Therapeutics by 26.5% during the second quarter. Cresset Asset Management LLC now owns 28,875 shares of the company’s stock valued at $427,000 after acquiring an additional 6,047 shares during the period. Finally, Qube Research & Technologies Ltd increased its stake in Travere Therapeutics by 106.2% during the second quarter. Qube Research & Technologies Ltd now owns 604,128 shares of the company’s stock worth $8,941,000 after acquiring an additional 311,137 shares during the last quarter.

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.