William Rote Sells 112,850 Shares of Travere Therapeutics (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider William Rote sold 112,850 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $63.33, for a total value of $7,146,790.50. Following the completion of the transaction, the insider directly owned 98,197 shares of the company’s stock, valued at approximately $6,218,816.01. This trade represents a 53.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Price Performance

NASDAQ:TVTX traded up $1.26 during mid-day trading on Thursday, hitting $64.74. The company’s stock had a trading volume of 1,384,694 shares, compared to its average volume of 1,246,848. Travere Therapeutics, Inc. has a fifty-two week low of $22.06 and a fifty-two week high of $68.73. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of -140.74 and a beta of 1.05. The stock has a fifty day moving average of $61.63 and a 200-day moving average of $48.50.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.03. The company had revenue of $169.58 million for the quarter, compared to the consensus estimate of $157.27 million. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The firm’s revenue for the quarter was up 48.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.13 EPS. As a group, equities analysts forecast that Travere Therapeutics, Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TVTX. Evercore set a $78.00 target price on shares of Travere Therapeutics in a research report on Monday, August 10th. Canaccord Genuity Group raised their price target on shares of Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wedbush boosted 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. TD Cowen upped their price objective on Travere Therapeutics from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, HC Wainwright increased their price objective on Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TVTX. Jupiter Topco LLC bought a new position in shares of Travere Therapeutics during the second quarter worth $643,299,000. Bank of America Corp DE bought a new stake in shares of Travere Therapeutics in the 2nd quarter valued at $259,527,000. Perceptive Advisors LLC increased its position in shares of Travere Therapeutics by 12.7% in the 4th quarter. Perceptive Advisors LLC now owns 4,278,180 shares of the company’s stock valued at $163,469,000 after buying an additional 483,565 shares in the last quarter. Wellington Management Group LLP raised its stake in Travere Therapeutics by 50.0% during the 2nd quarter. Wellington Management Group LLP now owns 1,533,080 shares of the company’s stock worth $87,094,000 after buying an additional 510,808 shares during the period. Finally, Geode Capital Management LLC raised its stake in Travere Therapeutics by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 2,143,495 shares of the company’s stock worth $81,915,000 after buying an additional 5,465 shares during the period.

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.