Timothy Coughlin Sells 10,000 Shares of Travere Therapeutics (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Timothy Coughlin sold 10,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.07, for a total transaction of $500,700.00. Following the completion of the transaction, the director owned 56,250 shares in the company, valued at approximately $2,816,437.50. This trade represents a 15.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Trading Up 1.4%

NASDAQ TVTX opened at $54.14 on Thursday. Travere Therapeutics, Inc. has a one year low of $13.88 and a one year high of $55.11. The company’s 50 day moving average price is $43.07 and its 200 day moving average price is $35.63. The company has a debt-to-equity ratio of 3.16, a quick ratio of 3.08 and a current ratio of 3.13. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of -235.38 and a beta of 1.13.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.05 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $127.20 million for the quarter, compared to analyst estimates of $136.23 million. During the same quarter last year, the firm posted ($0.47) earnings per share. Travere Therapeutics’s revenue for the quarter was up 55.6% compared to the same quarter last year. On average, sell-side analysts predict that Travere Therapeutics, Inc. will post -0.29 EPS for the current year.

Institutional Trading of Travere Therapeutics

A number of hedge funds have recently made changes to their positions in TVTX. Raymond James Financial Inc. acquired a new stake in shares of Travere Therapeutics during the second quarter worth approximately $33,000. Fifth Third Bancorp acquired a new stake in shares of Travere Therapeutics during the first quarter worth approximately $35,000. State of Wyoming acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth approximately $37,000. Torren Management LLC acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth approximately $38,000. Finally, Comerica Bank grew its position in shares of Travere Therapeutics by 77.5% during the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after buying an additional 492 shares in the last quarter.

Analyst Ratings Changes

Several analysts have issued reports on TVTX shares. HC Wainwright increased 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. Canaccord Genuity Group increased their price objective on shares of Travere Therapeutics from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Wedbush reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Travere Therapeutics in a research report on Wednesday, June 3rd. Weiss Ratings raised shares of Travere Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 21st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Travere Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $50.83.

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.