Travere Therapeutics, Inc. (NASDAQ:TVTX – Get Free Report) EVP Peter Heerma sold 172,717 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $63.43, for a total value of $10,955,439.31. Following the transaction, the executive vice president directly owned 117,066 shares of the company’s stock, valued at approximately $7,425,496.38. This represents a 59.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $65.07, for a total transaction of $538,909.74.
- On Tuesday, September 15th, Peter Heerma sold 102,190 shares of Travere Therapeutics stock. The shares were sold at an average price of $62.26, for a total value of $6,362,349.40.
Travere Therapeutics Trading Up 2.0%
Shares of TVTX stock traded up $1.26 during trading hours on Thursday, hitting $64.74. 1,384,694 shares of the company were exchanged, compared to its average volume of 1,246,848. The company has a 50 day simple moving average of $61.63 and a two-hundred day simple moving average of $48.50. The firm has a market cap of $6.10 billion, a P/E ratio of -140.74 and a beta of 1.05. The company has a debt-to-equity ratio of 24.58, a quick ratio of 3.99 and a current ratio of 4.05. Travere Therapeutics, Inc. has a fifty-two week low of $22.06 and a fifty-two week high of $68.73.
Institutional Trading of Travere Therapeutics
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC purchased a new stake in Travere Therapeutics during the 2nd quarter worth about $70,000. JW Asset Management LLC bought a new stake in shares of Travere Therapeutics during the second quarter valued at about $1,704,000. Nykredit A S bought a new stake in shares of Travere Therapeutics during the second quarter valued at about $237,000. Allianz Asset Management GmbH purchased a new stake in shares of Travere Therapeutics in the second quarter worth about $2,441,000. Finally, Corient Private Wealth LP boosted its position in shares of Travere Therapeutics by 1.4% in the second quarter. Corient Private Wealth LP now owns 48,125 shares of the company’s stock valued at $2,734,000 after acquiring an additional 648 shares during the period.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on TVTX shares. Wedbush lifted their price target on shares of Travere Therapeutics from $61.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Canaccord Genuity Group raised their price objective on shares of Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Guggenheim raised their price target on shares of Travere Therapeutics from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Wells Fargo & Company lifted 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. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Travere Therapeutics in a research report on Monday, August 17th. 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.00.
Check Out Our Latest Stock Analysis on TVTX
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.
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