Key Points
- Elizabeth Reed sold 44,715 shares for $1.8427M at an average of $41.21 under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested awards, reducing her stake ~28.5% to 111,996 shares (≈$4.62M).
- Filspari approval — full FDA approval for Filspari in FSGS expanded Travere’s U.S. addressable market by ~30,000 patients and sparked a ~37% rally, though the stock was trading down ~2.8% in the latest session.
- Institutional buying (e.g., State Street, Wellington, Stephens) and mostly favorable analyst revisions have driven momentum; consensus is a Moderate Buy with an average price target of about $42.50, despite some cautious/sell notes.
Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) CFO Christopher Cline sold 1,014 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $42.61, for a total value of $43,206.54. Following the transaction, the chief financial officer owned 116,899 shares of the company's stock, valued at approximately $4,981,066.39. This trade represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Travere Therapeutics Stock Performance
Travere Therapeutics stock opened at $40.95 on Thursday. The stock has a market cap of $3.78 billion, a P/E ratio of -136.50 and a beta of 0.86. The company has a current ratio of 2.74, a quick ratio of 2.70 and a debt-to-equity ratio of 2.71. The stock has a 50 day moving average of $29.57 and a 200-day moving average of $31.37. Travere Therapeutics, Inc. has a 52 week low of $13.88 and a 52 week high of $43.31.
Hedge Funds Weigh In On Travere Therapeutics
Several large investors have recently added to or reduced their stakes in TVTX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Travere Therapeutics by 13.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,777 shares of the company's stock worth $1,029,000 after purchasing an additional 6,831 shares during the last quarter. Norges Bank bought a new position in Travere Therapeutics during the second quarter worth $1,051,000. First Trust Advisors LP bought a new position in Travere Therapeutics during the second quarter worth $3,538,000. Cresset Asset Management LLC lifted its stake in Travere Therapeutics by 26.5% during the second quarter. Cresset Asset Management LLC now owns 28,875 shares of the company's stock worth $427,000 after purchasing an additional 6,047 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in Travere Therapeutics by 106.2% during the second quarter. Qube Research & Technologies Ltd now owns 604,128 shares of the company's stock worth $8,941,000 after purchasing an additional 311,137 shares during the last quarter.
Wall Street Analyst Weigh In
Several research firms have recently commented on TVTX. Wall Street Zen cut Travere Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 21st. Guggenheim increased their target price on Travere Therapeutics from $49.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday. Piper Sandler upgraded Travere Therapeutics from a "neutral" rating to an "overweight" rating and set a $49.00 target price for the company in a research note on Tuesday. JPMorgan Chase & Co. reduced their target price on Travere Therapeutics from $44.00 to $41.00 and set an "overweight" rating for the company in a research note on Wednesday, March 25th. Finally, Canaccord Genuity Group raised their price objective on Travere Therapeutics from $47.00 to $56.00 and gave the stock a "buy" rating in a research note on Tuesday. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.50.
Check Out Our Latest Analysis on Travere Therapeutics
Key Stories Impacting Travere Therapeutics
Here are the key news stories impacting Travere Therapeutics this week:
- Positive Sentiment: FDA grants full approval for Filspari in focal segmental glomerulosclerosis (FSGS), expanding Travere’s rare kidney-disease franchise, adding an estimated ~30,000 patients to the U.S. addressable market and supporting multi-year revenue/earnings upside. Article Title
- Positive Sentiment: Market reacted strongly to the approval — shares jumped about ~37% on the news as investors priced in first-mover status, premium pricing potential and material volume-driven revenue growth for Filspari. Article Title
- Positive Sentiment: Multiple brokerages raised ratings/price targets following the approval (examples: Canaccord to $56, Guggenheim to $54, Piper Sandler to $49 overweight, Wedbush to $44, HC Wainwright reaffirmed buy). These upgrades signal increased analyst confidence in TAM expansion and revenue trajectory. Article Title
- Neutral Sentiment: Guggenheim issued a positive forecast note on TVTX that accompanies their price-target lift; this is incremental institutional support but not a guarantee of sustained momentum. Article Title
- Neutral Sentiment: Unusually high options activity and elevated trading volume were reported around the approval-related move, indicating heightened short-term speculation and positioning that can amplify volatility. Article Title
- Neutral Sentiment: Company-hosted commentary/transcripts and mainstream coverage (Seeking Alpha slides/transcript, MSN health reports) are providing more detail on label scope and commercial plans; useful for modeling uptake but not yet concrete sales figures. Article Title
- Negative Sentiment: Some analysts caution that recent earnings-estimate revision trends may limit further near-term upside despite the approval; elevated expectations and heavy short-term speculative flows raise the risk of a pullback or consolidation. Article Title
About Travere Therapeutics
(
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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