Insider Selling: Travere Therapeutics (NASDAQ:TVTX) EVP Sells $6,362,349.40 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) EVP Peter Heerma sold 102,190 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $62.26, for a total value of $6,362,349.40. Following the sale, the executive vice president directly owned 117,066 shares in the company, valued at approximately $7,288,529.16. The trade was a 46.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Peter Heerma also recently made the following trade(s):

• On Thursday, September 17th, Peter Heerma sold 8,282 shares of Travere Therapeutics stock. The stock was sold at an average price of $65.07, for a total value of $538,909.74.
• On Wednesday, September 16th, Peter Heerma sold 172,717 shares of Travere Therapeutics stock. The shares were sold at an average price of $63.43, for a total value of $10,955,439.31.

Travere Therapeutics Stock Performance

Shares of Travere Therapeutics stock traded up $1.26 during midday trading on Thursday, hitting $64.74. The company had a trading volume of 1,384,694 shares, compared to its average volume of 1,246,848. The company has a fifty day simple moving average of $61.63 and a 200 day simple moving average of $48.50. 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 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 12-month low of $22.06 and a 12-month high of $68.73.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly 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 return on equity of 55.15% and a negative net margin of 7.35%.The business had revenue of $169.58 million for the quarter, compared to the consensus estimate of $157.27 million. During the same quarter in the previous year, the business earned $0.13 EPS. The company’s quarterly revenue was up 48.2% compared to the same quarter last year. As a group, analysts predict that Travere Therapeutics, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Travere Therapeutics

A number of hedge funds have recently modified their holdings of the company. S&CO Inc. acquired a new position in Travere Therapeutics in the 2nd quarter valued at about $3,181,000. Artia Global Partners LP acquired a new stake in shares of Travere Therapeutics during the 2nd quarter worth approximately $19,260,000. Profund Advisors LLC increased its holdings 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 buying an additional 42,366 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Travere Therapeutics by 354.4% during the 1st quarter. Quantinno Capital Management LP now owns 68,317 shares of the company’s stock valued at $2,030,000 after buying an additional 53,283 shares during the period. Finally, Elmind Capital LP purchased a new stake in shares of Travere Therapeutics during the 2nd quarter valued at approximately $16,622,606.

Analyst Ratings Changes

A number of research firms have weighed in on TVTX. TD Cowen lifted their price objective on shares of Travere Therapeutics from $60.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Guggenheim lifted their price target on Travere Therapeutics from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Canaccord Genuity Group upped their price target on Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Wells Fargo & Company raised their price objective on Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Finally, HC Wainwright upped their target price on Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

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.