Insider Selling: Travere Therapeutics (NASDAQ:TVTX) EVP Sells $538,909.74 in Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) EVP Peter Heerma sold 8,282 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $65.07, for a total value of $538,909.74. Following the sale, the executive vice president owned 117,066 shares of the company’s stock, valued at approximately $7,617,484.62. The trade was a 6.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Peter Heerma also recently made the following trade(s):

• 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.
• On Wednesday, September 16th, Peter Heerma sold 172,717 shares of Travere Therapeutics stock. The shares were sold at an average price of $63.43, for a total value of $10,955,439.31.

Travere Therapeutics Trading Up 2.0%

TVTX stock traded up $1.26 during midday trading on Thursday, reaching $64.74. The stock had a trading volume of 1,384,694 shares, compared to its average volume of 1,246,848. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of -140.74 and a beta of 1.05. Travere Therapeutics, Inc. has a twelve month low of $22.06 and a twelve month high of $68.73. The company has a quick ratio of 3.99, a current ratio of 4.05 and a debt-to-equity ratio of 24.58. The business has a fifty day simple moving average of $61.63 and a two-hundred day simple moving average of $48.50.

Travere Therapeutics (NASDAQ:TVTX) last released 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. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The company had revenue of $169.58 million for the quarter, compared to the consensus estimate of $157.27 million. During the same period in the prior year, the company posted $0.13 EPS. The company’s revenue was up 48.2% compared to the same quarter last year. As a group, research analysts expect that Travere Therapeutics, Inc. will post -0.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Travere Therapeutics

Several large investors have recently modified their holdings of TVTX. Integrated Wealth Concepts LLC acquired a new stake in shares of Travere Therapeutics during the second quarter worth about $70,000. JW Asset Management LLC bought a new position in shares of Travere Therapeutics during the 2nd quarter valued at about $1,704,000. Nykredit A S acquired a new position in shares of Travere Therapeutics in the 2nd quarter valued at approximately $237,000. Allianz Asset Management GmbH acquired a new position in shares of Travere Therapeutics in the 2nd quarter valued at approximately $2,441,000. Finally, Corient Private Wealth LP increased its stake in Travere Therapeutics by 1.4% during the 2nd quarter. Corient Private Wealth LP now owns 48,125 shares of the company’s stock worth $2,734,000 after purchasing an additional 648 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. HC Wainwright increased their price target on Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Canaccord Genuity Group raised their target price on Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. TD Cowen boosted their target price on Travere Therapeutics from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Citigroup boosted their target price on Travere Therapeutics from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, Guggenheim increased 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. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

About Travere Therapeutics

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.