Travere Therapeutics, Inc. (NASDAQ:TVTX – Get Free Report)’s share price traded up 5.5% during trading on Wednesday . The stock traded as high as $45.46 and last traded at $45.31. 760,793 shares traded hands during trading, a decline of 65% from the average session volume of 2,203,089 shares. The stock had previously closed at $42.96.
Analyst Ratings Changes
Several research firms recently weighed in on TVTX. JPMorgan Chase & Co. reduced their price objective on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, March 25th. Canaccord Genuity Group upped their price objective on shares of Travere Therapeutics from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. TD Cowen upped their price objective on shares of Travere Therapeutics from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. HC Wainwright upped their price objective on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Citigroup upped their price objective on shares of Travere Therapeutics from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.92.
View Our Latest Report on Travere Therapeutics
Travere Therapeutics Stock Up 2.2%
Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.29. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The company had revenue of $127.20 million during the quarter, compared to the consensus estimate of $136.23 million. During the same period in the prior year, the company earned ($0.47) EPS. Travere Therapeutics’s revenue was up 55.6% on a year-over-year basis. On average, sell-side analysts anticipate that Travere Therapeutics, Inc. will post -0.26 EPS for the current year.
Insider Buying and Selling
In other Travere Therapeutics news, insider Elizabeth E. Reed sold 2,076 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $43.95, for a total value of $91,240.20. Following the completion of the sale, the insider directly owned 105,211 shares of the company’s stock, valued at approximately $4,624,023.45. This represents a 1.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William E. Rote sold 2,763 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $43.95, for a total transaction of $121,433.85. Following the completion of the sale, the insider directly owned 115,474 shares of the company’s stock, valued at $5,075,082.30. The trade was a 2.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 400,015 shares of company stock worth $15,895,428 in the last ninety days. Insiders own 4.44% of the company’s stock.
Institutional Investors Weigh In On Travere Therapeutics
Institutional investors and hedge funds have recently bought and sold shares of the business. Palisades Investment Partners LLC purchased a new stake in Travere Therapeutics during the fourth quarter valued at about $5,264,000. Essex Investment Management Co. LLC purchased a new stake in Travere Therapeutics during the third quarter valued at about $3,872,000. Hennion & Walsh Asset Management Inc. lifted its stake in Travere Therapeutics by 169.6% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 99,229 shares of the company’s stock valued at $3,792,000 after buying an additional 62,419 shares in the last quarter. Apis Capital Advisors LLC purchased a new stake in Travere Therapeutics during the third quarter valued at about $3,967,000. Finally, Assenagon Asset Management S.A. lifted its stake in Travere Therapeutics by 347.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 417,742 shares of the company’s stock valued at $15,962,000 after buying an additional 324,387 shares in the last quarter.
Travere Therapeutics Company Profile
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.
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