Key Points
- Travere Therapeutics director Jeffrey Meckler sold 20,000 shares at an average price of $67.31, totaling $1.35 million. The Rule 10b5-1 transaction reduced his direct ownership by 17.94% to 91,500 shares.
- Travere reported quarterly revenue of $169.58 million, up 48.2% year over year, and adjusted its loss to $0.10 per share, beating analyst expectations of a $0.13 loss.
- Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $68.00; multiple firms recently raised their targets to between $70 and $75.
Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) Director Jeffrey Meckler sold 20,000 shares of Travere Therapeutics stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $67.31, for a total transaction of $1,346,200.00. Following the transaction, the director directly owned 91,500 shares in the company, valued at approximately $6,158,865. This trade represents a 17.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Travere Therapeutics Price Performance
TVTX opened at $66.17 on Friday. Travere Therapeutics, Inc. has a 52-week low of $22.06 and a 52-week high of $68.73. The company has a 50 day moving average of $61.14 and a two-hundred day moving average of $47.42. The company has a market cap of $6.24 billion, a P/E ratio of -143.84 and a beta of 1.05. The company has a quick ratio of 3.99, a current ratio of 4.05 and a debt-to-equity ratio of 24.58.
Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $169.58 million for the quarter, compared to analyst estimates of $157.27 million. During the same quarter in the previous year, the business posted $0.13 EPS. The business's quarterly revenue was up 48.2% on a year-over-year basis. On average, analysts expect that Travere Therapeutics, Inc. will post -0.54 earnings per share for the current year.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on TVTX shares. Guggenheim upped their target price on Travere Therapeutics from $65.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Wells Fargo & Company raised their target price on Travere Therapeutics from $50.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, June 12th. Wedbush boosted their price target on Travere Therapeutics from $61.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Canaccord Genuity Group upped their price target on Travere Therapeutics from $62.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, TD Cowen increased their price objective on shares of Travere Therapeutics from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $68.00.
Check Out Our Latest Stock Report on TVTX
Hedge Funds Weigh In On Travere Therapeutics
Institutional investors and hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC purchased a new position in shares of Travere Therapeutics during the 2nd quarter valued at approximately $70,000. JW Asset Management LLC bought a new position in Travere Therapeutics during the 2nd quarter valued at $1,704,000. Nykredit A S bought a new position in Travere Therapeutics during the 2nd quarter valued at $237,000. Allianz Asset Management GmbH acquired a new position in Travere Therapeutics during the 2nd quarter worth $2,441,000. Finally, Corient Private Wealth LP increased its position in shares of Travere Therapeutics by 1.4% in 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 during the last quarter.
Travere Therapeutics Company Profile
(
Get Free Report)
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.
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