Travere Therapeutics (NASDAQ:TVTX) Reaches New 1-Year High at $15.36

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) hit a new 52-week high on Monday . The stock 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

A number of equities research analysts have recently weighed in on TVTX shares. Piper Sandler raised their price target on Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Canaccord Genuity Group raised their price objective on shares of Travere Therapeutics from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Wedbush lifted their target price on shares of Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Guggenheim upgraded shares of Travere Therapeutics from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Monday, September 9th. Finally, Citigroup lifted their price objective on shares of Travere Therapeutics from $14.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.91.

Travere Therapeutics Stock Performance

The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. The stock’s 50-day simple moving average is $10.20 and its two-hundred day simple moving average is $8.23. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -7.24 and a beta of 0.71.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The business had revenue of $54.12 million during the quarter, compared to the consensus estimate of $49.50 million. Analysts forecast that Travere Therapeutics, Inc. will post -3.96 earnings per share for the current year.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $243,360.00. Following the completion of the sale, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Christopher R. Cline sold 2,490 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $28,684.80. Following the completion of the transaction, the chief financial officer now directly owns 74,595 shares in the company, valued at $859,334.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric M. Dube sold 21,125 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 value of $243,360.00. Following the completion of the transaction, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. The disclosure for this sale can be found here. Insiders sold a total of 30,707 shares of company stock worth $352,712 over the last three months. 3.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Forefront Analytics LLC boosted its position in shares of Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after acquiring an additional 1,237 shares in the last quarter. ProShare Advisors LLC lifted its stake in Travere Therapeutics by 9.2% during the first quarter. ProShare Advisors LLC now owns 18,421 shares of the company’s stock worth $142,000 after purchasing an additional 1,557 shares during the period. Rice Hall James & Associates LLC boosted its holdings in Travere Therapeutics by 3.8% during the second quarter. Rice Hall James & Associates LLC now owns 76,174 shares of the company’s stock valued at $626,000 after purchasing an additional 2,774 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Travere Therapeutics by 10.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,009 shares of the company’s stock valued at $240,000 after purchasing an additional 2,948 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Travere Therapeutics by 8.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,178 shares of the company’s stock valued at $387,000 after purchasing an additional 3,754 shares during the period.

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.