Travere Therapeutics (NASDAQ:TVTX) Reaches New 52-Week High – Should You Buy?

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $25.29 and last traded at $24.23, with a volume of 1089963 shares traded. The stock had previously closed at $21.10.

Wall Street Analysts Forecast Growth

TVTX has been the topic of a number of recent research reports. Evercore ISI upped their target price on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday. HC Wainwright upped their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Barclays lifted their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $9.00 to $27.00 in a research note on Monday, October 21st. Finally, Canaccord Genuity Group raised their price objective on Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.77.

Travere Therapeutics Stock Down 2.3 %

The company has a 50 day simple moving average of $19.06 and a 200 day simple moving average of $15.95. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Insider Buying and Selling

In other Travere Therapeutics news, CEO Eric M. Dube sold 11,375 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $24.04, for a total transaction of $273,455.00. Following the completion of the sale, the chief executive officer now directly owns 419,173 shares in the company, valued at $10,076,918.92. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP William E. Rote sold 5,200 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $23.53, for a total transaction of $122,356.00. Following the completion of the sale, the senior vice president now directly owns 98,519 shares of the company’s stock, valued at $2,318,152.07. The trade was a 5.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 218,425 shares of company stock valued at $4,674,259. 3.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning grew its stake in shares of Travere Therapeutics by 4.3% in the third quarter. Creative Planning now owns 23,938 shares of the company’s stock valued at $335,000 after buying an additional 995 shares in the last quarter. Rhumbline Advisers boosted its holdings in Travere Therapeutics by 2.2% in the 4th quarter. Rhumbline Advisers now owns 121,248 shares of the company’s stock worth $2,112,000 after acquiring an additional 2,640 shares during the period. Arizona State Retirement System grew its position in Travere Therapeutics by 13.5% in the fourth quarter. Arizona State Retirement System now owns 22,396 shares of the company’s stock valued at $390,000 after acquiring an additional 2,666 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Travere Therapeutics during the fourth quarter valued at approximately $53,000. Finally, CWM LLC lifted its position in shares of Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after purchasing an additional 3,065 shares in the last quarter.

About Travere Therapeutics

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.