Travere Therapeutics (NASDAQ:TVTX) Hits New 52-Week High at $15.36

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $15.36 and last traded at $15.08, with a volume of 12975 shares. The stock had previously closed at $15.21.

Analyst Ratings Changes

Several research firms have commented on TVTX. Citigroup boosted their price target on shares of Travere Therapeutics from $14.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. HC Wainwright upped their price target on Travere Therapeutics from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, September 6th. JPMorgan Chase & Co. lifted their price objective on Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Barclays upped their target price on shares of Travere Therapeutics from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Piper Sandler boosted their price target on shares of Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.91.

Travere Therapeutics Stock Performance

The firm has a fifty day simple moving average of $10.38 and a 200-day simple moving average of $8.31. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The firm had revenue of $54.12 million for the quarter, compared to analyst estimates of $49.50 million. Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. Analysts predict that Travere Therapeutics, Inc. will post -3.95 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Christopher R. Cline sold 2,490 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $28,684.80. Following the completion of the sale, the chief financial officer now directly owns 74,595 shares of the company’s stock, valued at $859,334.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $50,538.24. Following the transaction, the senior vice president now directly owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher R. Cline sold 2,490 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $28,684.80. Following the completion of the sale, the chief financial officer now owns 74,595 shares of the company’s stock, valued at approximately $859,334.40. The disclosure for this sale can be found here. Insiders sold a total of 30,707 shares of company stock worth $352,712 in the last 90 days. Company insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

Several hedge funds have recently modified their holdings of the business. EntryPoint Capital LLC acquired a new stake in Travere Therapeutics in the first quarter valued at $32,000. DRW Securities LLC acquired a new stake in shares of Travere Therapeutics in the second quarter valued at about $95,000. Forefront Analytics LLC boosted its holdings in Travere Therapeutics by 10.2% during the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after buying an additional 1,237 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Travere Therapeutics by 68.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock worth $113,000 after buying an additional 5,962 shares during the period. Finally, Sei Investments Co. purchased a new position in Travere Therapeutics in the second quarter valued at about $117,000.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.