Insider Selling: Travere Therapeutics (NASDAQ:TVTX) CEO Sells $5,956,165.16 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX – Get Free Report) CEO Eric Dube sold 95,666 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $62.26, for a total value of $5,956,165.16. Following the completion of the sale, the chief executive officer directly owned 432,886 shares of the company’s stock, valued at $26,951,482.36. This represents a 18.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Stock Performance

Travere Therapeutics stock traded up $1.26 during trading hours on Thursday, reaching $64.74. 1,384,694 shares of the company were exchanged, compared to its average volume of 1,246,848. The stock has a 50-day moving average of $61.63 and a 200 day moving average of $48.50. The company has a current ratio of 4.05, a quick ratio of 3.99 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. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of -140.74 and a beta of 1.05.

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Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last posted its 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 business 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 revenue was up 48.2% compared to the same quarter last year. During the same period last year, the business posted $0.13 EPS. As a group, research analysts anticipate that Travere Therapeutics, Inc. will post -0.54 earnings per share for the current year.

Analysts Set New Price Targets

TVTX has been the subject of several recent research reports. HC Wainwright upped their price target on Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Canaccord Genuity Group raised their target price on Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Guggenheim upped their target price 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. Piper Sandler reissued an “overweight” rating on shares of Travere Therapeutics in a research note on Monday, August 17th. Finally, Wedbush increased their price objective on shares of Travere Therapeutics from $61.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Travere Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Read Our Latest Stock Analysis on TVTX

Institutional Trading of Travere Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Jupiter Topco LLC bought a new position in Travere Therapeutics during the 2nd quarter worth $643,299,000. Bank of America Corp DE acquired a new stake in shares of Travere Therapeutics during the 2nd quarter worth approximately $259,527,000. Perceptive Advisors LLC raised its holdings in shares of Travere Therapeutics by 12.7% during the 4th quarter. Perceptive Advisors LLC now owns 4,278,180 shares of the company’s stock worth $163,469,000 after buying an additional 483,565 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Travere Therapeutics by 50.0% in the second quarter. Wellington Management Group LLP now owns 1,533,080 shares of the company’s stock worth $87,094,000 after acquiring an additional 510,808 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Travere Therapeutics by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 2,143,495 shares of the company’s stock valued at $81,915,000 after buying an additional 5,465 shares in the last quarter.

About Travere Therapeutics

(Get Free Report)

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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