Insider Selling: Travere Therapeutics (NASDAQ:TVTX) CEO Sells $5,956,165.16 in Stock

Key Points

• CEO Eric Dube sold 95,666 Travere Therapeutics shares at an average price of $62.26, generating approximately $5.96 million. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his stake by 18.1%.
• Travere shares rose 2.0% to $64.74, near their 12-month high of $68.73. The company reported quarterly revenue of $169.58 million, up 48.2% year over year, and narrower-than-expected losses.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $68; several firms recently raised their targets as high as $85.

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) CEO Eric Dube sold 95,666 shares of Travere Therapeutics stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $62.26, for a total transaction of $5,956,165.16. Following the transaction, the chief executive officer owned 432,886 shares of the company's stock, valued at approximately $26,951,482.36. The trade was a 18.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Trading Up 2.0%

NASDAQ:TVTX traded up $1.26 on Thursday, reaching $64.74. The stock had a trading volume of 1,384,694 shares, compared to its average volume of 1,246,848. Travere Therapeutics, Inc. has a 12-month low of $22.06 and a 12-month high of $68.73. The company has a market cap of $6.10 billion, a price-to-earnings ratio of -140.74 and a beta of 1.05. The firm's fifty day moving average is $61.63 and its two-hundred day moving average is $48.50. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.99.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, beating 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 business had revenue of $169.58 million during the quarter, compared to the consensus estimate of $157.27 million. During the same quarter in the previous year, the business earned $0.13 earnings per share. The business's revenue for the quarter was up 48.2% on a year-over-year basis. Equities analysts expect that Travere Therapeutics, Inc. will post -0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Travere Therapeutics

Several hedge funds have recently modified their holdings of TVTX. Jupiter Topco LLC bought a new position in Travere Therapeutics during the second quarter valued at about $643,299,000. Bank of America Corp DE purchased a new position in Travere Therapeutics during the 2nd quarter worth approximately $259,527,000. Perceptive Advisors LLC raised its position in Travere Therapeutics by 12.7% during the fourth quarter. Perceptive Advisors LLC now owns 4,278,180 shares of the company's stock valued at $163,469,000 after buying an additional 483,565 shares during the period. Geode Capital Management LLC lifted its position in shares of Travere Therapeutics by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 2,143,495 shares of the company's stock worth $81,915,000 after purchasing an additional 5,465 shares in the last quarter. Finally, Stephens Investment Management Group LLC grew its holdings in shares of Travere Therapeutics by 4.5% during the 1st quarter. Stephens Investment Management Group LLC now owns 1,798,466 shares of the company's stock valued at $53,432,000 after acquiring an additional 76,843 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Canaccord Genuity Group boosted their price target on Travere Therapeutics from $62.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Guggenheim lifted their target price on Travere Therapeutics from $65.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Citigroup upped their price target on shares of Travere Therapeutics from $70.00 to $85.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Wedbush increased their target price on Travere Therapeutics from $61.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Finally, Wells Fargo & Company increased their price objective on shares of Travere Therapeutics from $50.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, June 12th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Travere Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $68.00.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare kidney and immune-mediated diseases. The company's work is centered on conditions with significant unmet medical needs, including diseases that can lead to progressive kidney damage and kidney failure.

Travere's principal commercial product is FILSPARI (sparsentan), an oral therapy for adults with primary immunoglobulin A nephropathy, or IgA nephropathy, who are at risk of disease progression.

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