Travere Therapeutics (NASDAQ:TVTX) Reaches New 1-Year High – Here’s What Happened

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $20.33 and last traded at $20.19, with a volume of 864715 shares trading hands. The stock had previously closed at $19.46.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Scotiabank boosted their price target on Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. HC Wainwright boosted their price target on Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Barclays boosted their price target on Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Guggenheim boosted their price objective on Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Leerink Partners reiterated an “outperform” rating and set a $20.00 price objective on shares of Travere Therapeutics in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Travere Therapeutics Stock Up 6.9 %

The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The firm has a market capitalization of $1.62 billion, a P/E ratio of -4.57 and a beta of 0.70. The company has a 50 day simple moving average of $18.23 and a two-hundred day simple moving average of $14.75.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.01. The business had revenue of $62.90 million for the quarter, compared to analysts’ expectations of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The company’s revenue for the quarter was up 69.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.17) EPS. On average, equities analysts predict that Travere Therapeutics, Inc. will post -3.92 EPS for the current fiscal year.

Insider Transactions at Travere Therapeutics

In related news, CAO Sandra Calvin sold 15,000 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $17.22, for a total transaction of $258,300.00. Following the sale, the chief accounting officer now owns 54,927 shares in the company, valued at approximately $945,842.94. This represents a 21.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jula Inrig sold 2,066 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $19.10, for a total value of $39,460.60. Following the sale, the insider now owns 59,883 shares in the company, valued at $1,143,765.30. The trade was a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,596 shares of company stock valued at $527,262 in the last ninety days. Corporate insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning grew its position in shares of Travere Therapeutics by 4.3% during the 3rd quarter. Creative Planning now owns 23,938 shares of the company’s stock worth $335,000 after buying an additional 995 shares in the last quarter. Forefront Analytics LLC boosted its position in Travere Therapeutics by 10.2% during the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after purchasing an additional 1,237 shares in the last quarter. R Squared Ltd purchased a new stake in Travere Therapeutics in the fourth quarter valued at about $53,000. CWM LLC raised its stake in Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after buying an additional 3,065 shares during the last quarter. Finally, Diversified Trust Co raised its stake in shares of Travere Therapeutics by 27.5% in the fourth quarter. Diversified Trust Co now owns 14,701 shares of the company’s stock worth $256,000 after purchasing an additional 3,169 shares during the last quarter.

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.