Travere Therapeutics (NASDAQ:TVTX) Hits New 1-Year High – Here’s Why

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s share price hit a new 52-week high on Thursday . The stock traded as high as $18.72 and last traded at $18.57, with a volume of 279023 shares. The stock had previously closed at $18.05.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TVTX shares. Wedbush upped their target price on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. HC Wainwright dropped their price objective on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a report on Friday, September 27th. Guggenheim increased their price objective on shares of Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Scotiabank started coverage on shares of Travere Therapeutics in a report on Wednesday. They set a “sector outperform” rating and a $23.00 price objective for the company. Finally, Piper Sandler increased their price objective on shares of Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Travere Therapeutics Trading Up 1.1 %

The firm has a market capitalization of $1.39 billion, a PE ratio of -8.60 and a beta of 0.73. The stock’s 50-day moving average price is $12.32 and its 200 day moving average price is $9.18. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). The company had revenue of $54.12 million for the quarter, compared to analysts’ expectations of $49.50 million. Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. On average, sell-side analysts expect that Travere Therapeutics, Inc. will post -3.95 EPS for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other news, CEO Eric M. Dube sold 21,125 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the transaction, the chief executive officer now directly owns 361,975 shares in the company, valued at approximately $4,169,952. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Eric M. Dube sold 21,125 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the transaction, the chief executive officer now directly owns 361,975 shares in the company, valued at approximately $4,169,952. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary A. Lyons sold 40,000 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $14.73, for a total transaction of $589,200.00. Following the transaction, the director now owns 51,000 shares in the company, valued at approximately $751,230. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,707 shares of company stock valued at $1,504,312. 3.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors have recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new stake in shares of Travere Therapeutics during the first quarter worth $32,000. CWM LLC lifted its stake in shares of Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after buying an additional 3,065 shares during the period. Diversified Trust Co purchased a new position in shares of Travere Therapeutics during the third quarter worth $161,000. DRW Securities LLC purchased a new position in shares of Travere Therapeutics during the second quarter worth $95,000. Finally, Forefront Analytics LLC raised its holdings in shares of 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 purchasing an additional 1,237 shares during the last quarter.

About Travere Therapeutics

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.