Key Points
- CEO Eric Dube sold 243,735 Travere Therapeutics shares at an average price of $53.82, generating approximately $13.1 million. The Rule 10b5-1 transaction reduced his ownership by 36.02% to 432,886 shares.
- Travere reported quarterly revenue of $169.58 million, up 48.2% year over year, and an adjusted loss of $0.10 per share that beat analysts’ expectations.
- Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $69.50, compared with the stock’s reported opening price of $50.49.
Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) CEO Eric Dube sold 243,735 shares of the stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $53.82, for a total transaction of $13,117,817.70. Following the completion of the sale, the chief executive officer owned 432,886 shares in the company, valued at approximately $23,297,924.52. This trade represents a 36.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Travere Therapeutics Trading Up 1.8%
NASDAQ TVTX opened at $50.49 on Tuesday. Travere Therapeutics, Inc. has a one year low of $22.59 and a one year high of $68.73. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.99. The firm has a market cap of $4.76 billion, a P/E ratio of -109.76 and a beta of 1.13. The stock's 50-day moving average is $61.24 and its 200-day moving average is $52.92.
Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.03. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%. The firm had revenue of $169.58 million during the quarter, compared to analysts' expectations of $157.27 million. During the same quarter in the prior year, the company earned $0.13 EPS. The company's revenue was up 48.2% on a year-over-year basis. Sell-side analysts anticipate that Travere Therapeutics, Inc. will post -0.54 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on TVTX shares. Piper Sandler restated an "overweight" rating on shares of Travere Therapeutics in a research note on Monday, August 17th. Wedbush reissued an "outperform" rating and issued a $76.00 price target on shares of Travere Therapeutics in a report on Tuesday, September 22nd. HC Wainwright restated a "buy" rating and set a $67.00 price objective on shares of Travere Therapeutics in a report on Tuesday, September 22nd. Evercore set a $78.00 price objective on Travere Therapeutics in a report on Monday, August 10th. Finally, Guggenheim upped their target price on Travere Therapeutics from $75.00 to $89.00 and gave the company a "buy" rating in a research report on Thursday, September 24th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $69.50.
Check Out Our Latest Stock Analysis on Travere Therapeutics
Hedge Funds Weigh In On Travere Therapeutics
A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of Travere Therapeutics by 53.4% during the 2nd quarter. GAMMA Investing LLC now owns 606 shares of the company's stock valued at $34,000 after acquiring an additional 211 shares during the period. Corient Private Wealth LP boosted its stake in Travere Therapeutics by 1.4% during the second quarter. Corient Private Wealth LP now owns 48,125 shares of the company's stock worth $2,734,000 after acquiring an additional 648 shares in the last quarter. Allworth Financial LP bought a new position in Travere Therapeutics during the second quarter worth $47,000. Swiss National Bank grew its holdings in Travere Therapeutics by 0.6% in the first quarter. Swiss National Bank now owns 168,100 shares of the company's stock worth $4,994,000 after purchasing an additional 1,000 shares during the period. Finally, Fifth Third Bancorp acquired a new stake in Travere Therapeutics in the first quarter worth $35,000.
About Travere Therapeutics
(
Get Free Report)
Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare diseases, with an emphasis on serious kidney conditions. The company's work centers on addressing diseases with limited treatment options and improving outcomes for patients with progressive renal disorders.
Travere's lead commercial product is FILSPARI (sparsentan), an oral treatment for adults with primary immunoglobulin A nephropathy (IgA nephropathy) who are at risk of disease progression.
Further Reading
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