Elizabeth Reed Sells 37,500 Shares of Travere Therapeutics (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Elizabeth Reed sold 37,500 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $62.34, for a total transaction of $2,337,750.00. Following the completion of the transaction, the insider owned 105,389 shares in the company, valued at $6,569,950.26. The trade was a 26.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Trading Up 2.0%

Shares of Travere Therapeutics stock traded up $1.26 during trading on Thursday, reaching $64.74. 1,384,694 shares of the stock were exchanged, 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. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of -140.74 and a beta of 1.05. Travere Therapeutics, Inc. has a 1 year low of $22.06 and a 1 year high of $68.73. The stock’s fifty day moving average is $61.63 and its 200 day moving average is $48.50.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The company had revenue of $169.58 million for the quarter, compared to the consensus estimate of $157.27 million. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.Travere Therapeutics’s revenue was up 48.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 EPS. As a group, equities research analysts expect that Travere Therapeutics, Inc. will post -0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TVTX has been the subject of a number of recent analyst reports. TD Cowen upped their target price on Travere Therapeutics from $60.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. HC Wainwright boosted their price objective on shares of Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Wells Fargo & Company upped their price objective on shares of Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Piper Sandler reaffirmed an “overweight” rating on shares of Travere Therapeutics in a research report on Monday, August 17th. Finally, Canaccord Genuity Group boosted their price target on shares of Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC purchased a new position in Travere Therapeutics in the 2nd quarter worth approximately $70,000. JW Asset Management LLC purchased a new stake in Travere Therapeutics during the 2nd quarter valued at $1,704,000. Nykredit A S bought a new position in Travere Therapeutics in the second quarter valued at about $237,000. Allianz Asset Management GmbH purchased a new position in shares of Travere Therapeutics in the second quarter worth approximately $2,441,000. Finally, Corient Private Wealth LP boosted its stake in shares of Travere Therapeutics by 1.4% during the 2nd quarter. Corient Private Wealth LP now owns 48,125 shares of the company’s stock worth $2,734,000 after acquiring an additional 648 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.