Key Points
- Insider sale: Director William Rote sold 60,000 shares at an average price of $40.10 for proceeds of $2.406 million, reducing his stake by 37.16% to 101,443 shares.
- Strong quarterly results: Travere posted EPS of $0.28 (vs. a -$0.31 consensus) and revenue of $164.86M—up 162.1% year-over-year—surpassing analyst expectations.
- Analyst sentiment & trading: The street averages a "Moderate Buy" rating with a $38.71 target (13 Buys, 3 Holds, 1 Sell), and the stock trades near its 52-week high (opened $38.88; 52-week high $42.13) with a $3.48B market cap.
Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) insider Peter Heerma sold 4,980 shares of the stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $40.00, for a total value of $199,200.00. Following the transaction, the insider owned 113,013 shares in the company, valued at $4,520,520. The trade was a 4.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Peter Heerma also recently made the following trade(s):
- On Friday, October 31st, Peter Heerma sold 5,591 shares of Travere Therapeutics stock. The shares were sold at an average price of $35.00, for a total transaction of $195,685.00.
- On Tuesday, October 28th, Peter Heerma sold 2,662 shares of Travere Therapeutics stock. The stock was sold at an average price of $30.00, for a total transaction of $79,860.00.
Travere Therapeutics Stock Performance
NASDAQ TVTX opened at $38.88 on Tuesday. The company has a quick ratio of 2.71, a current ratio of 2.75 and a debt-to-equity ratio of 4.23. The company has a market capitalization of $3.48 billion, a P/E ratio of -36.68 and a beta of 0.89. Travere Therapeutics, Inc. has a 12-month low of $12.91 and a 12-month high of $42.13. The firm has a 50-day moving average price of $34.36 and a two-hundred day moving average price of $24.61.
Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its earnings results on Thursday, October 30th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of ($0.31) by $0.59. Travere Therapeutics had a negative net margin of 20.32% and a negative return on equity of 178.68%. The company had revenue of $164.86 million for the quarter, compared to analysts' expectations of $106.09 million. During the same period last year, the firm earned ($0.70) earnings per share. The business's revenue for the quarter was up 162.1% on a year-over-year basis. Analysts anticipate that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.
Institutional Investors Weigh In On Travere Therapeutics
Hedge funds have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. grew its holdings in shares of Travere Therapeutics by 479.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,184,898 shares of the company's stock valued at $39,153,000 after purchasing an additional 1,808,098 shares during the last quarter. Stephens Investment Management Group LLC acquired a new stake in Travere Therapeutics in the third quarter valued at approximately $38,232,000. Armistice Capital LLC grew its stake in shares of Travere Therapeutics by 20.6% during the first quarter. Armistice Capital LLC now owns 8,872,000 shares of the company's stock worth $158,986,000 after buying an additional 1,514,000 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Travere Therapeutics by 3,331.9% during the third quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company's stock worth $28,715,000 after buying an additional 1,166,460 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. bought a new position in shares of Travere Therapeutics in the 2nd quarter valued at $14,831,000.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on TVTX. HC Wainwright reaffirmed a "buy" rating and issued a $47.00 price objective on shares of Travere Therapeutics in a report on Friday, November 28th. Piper Sandler boosted their price target on Travere Therapeutics from $26.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, November 4th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Travere Therapeutics in a research note on Wednesday, October 8th. Citigroup raised their target price on shares of Travere Therapeutics from $34.00 to $48.00 and gave the company a "buy" rating in a report on Friday, October 31st. Finally, Wells Fargo & Company upped their price target on shares of Travere Therapeutics from $27.00 to $35.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Thirteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.71.
Get Our Latest Report on TVTX
Travere Therapeutics Company Profile
(
Get Free Report)
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.
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