Key Points
- Director Timothy Coughlin sold 10,000 shares of Travere Therapeutics at an average price of $50.07, for proceeds of about $500,700. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Coughlin still owned 56,250 shares, valued at roughly $2.82 million, which marked a 15.09% decrease in his holdings.
- Travere Therapeutics recently posted better-than-expected earnings, reporting $0.05 EPS versus estimates for a loss, while analysts maintain a Moderate Buy consensus with an average target price of $50.83.
Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) Director Roy Baynes sold 4,500 shares of the business's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.00, for a total value of $225,000.00. Following the transaction, the director owned 41,500 shares in the company, valued at $2,075,000. This represents a 9.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Travere Therapeutics Trading Down 0.8%
TVTX stock opened at $53.38 on Wednesday. Travere Therapeutics, Inc. has a 1-year low of $13.88 and a 1-year high of $54.38. The firm has a market cap of $4.96 billion, a P/E ratio of -232.08 and a beta of 1.13. The business's 50 day moving average is $42.63 and its 200-day moving average is $35.50. The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16.
Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.29. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The company had revenue of $127.20 million for the quarter, compared to analyst estimates of $136.23 million. During the same period in the prior year, the company posted ($0.47) EPS. The company's revenue was up 55.6% compared to the same quarter last year. Equities analysts anticipate that Travere Therapeutics, Inc. will post -0.29 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group upped their price objective on Travere Therapeutics from $47.00 to $56.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. Wells Fargo & Company upped their price objective on Travere Therapeutics from $50.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, June 12th. Wedbush reiterated an "outperform" rating and issued a $55.00 price objective on shares of Travere Therapeutics in a research note on Wednesday, June 3rd. Wall Street Zen lowered Travere Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Weiss Ratings upgraded Travere Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, May 21st. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.83.
Get Our Latest Report on TVTX
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of TVTX. Raymond James Financial Inc. acquired a new position in shares of Travere Therapeutics in the 2nd quarter worth approximately $33,000. Fifth Third Bancorp acquired a new position in shares of Travere Therapeutics in the 1st quarter worth approximately $35,000. State of Wyoming acquired a new position in shares of Travere Therapeutics in the 4th quarter worth approximately $37,000. Torren Management LLC acquired a new position in shares of Travere Therapeutics in the 4th quarter worth approximately $38,000. Finally, Comerica Bank boosted its holdings in shares of Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company's stock worth $43,000 after acquiring an additional 492 shares in the last quarter.
Travere Therapeutics Company Profile
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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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