Jula Inrig Sells 44,674 Shares of Travere Therapeutics (NASDAQ:TVTX) Stock

Key Points

• Executive sale: Travere Therapeutics EVP Jula Inrig sold 44,674 shares for approximately $2.78 million under a pre-arranged Rule 10b5-1 plan, reducing her direct ownership by 30.77% to 100,491 shares.
• Strong operating performance: The company reported quarterly revenue of $169.58 million, up 48.2% year over year, and an adjusted loss of $0.10 per share that beat analyst expectations.
• Positive market view: Shares recently traded at $64.74, while analysts maintained a “Moderate Buy” consensus with an average price target of $68.00; 10 of 12 analysts rate the stock a Buy.

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) EVP Jula Inrig sold 44,674 shares of the company's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $62.34, for a total transaction of $2,784,977.16. Following the completion of the transaction, the executive vice president directly owned 100,491 shares in the company, valued at $6,264,608.94. This trade represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Stock 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. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58. Travere Therapeutics, Inc. has a 1 year low of $22.06 and a 1 year high of $68.73. The business has a 50 day moving average price of $61.63 and a 200 day moving average price of $48.50. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of -140.74 and a beta of 1.05.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.03. The company had revenue of $169.58 million during the quarter, compared to the consensus estimate of $157.27 million. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.The business's quarterly revenue was up 48.2% on a year-over-year basis. During the same period last year, the business earned $0.13 EPS. On average, analysts forecast that Travere Therapeutics, Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TVTX shares. Evercore set a $78.00 target price on shares of Travere Therapeutics in a research note on Monday, August 10th. Citigroup lifted their price objective on shares of Travere Therapeutics from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Piper Sandler reiterated an "overweight" rating on shares of Travere Therapeutics in a report on Monday, August 17th. HC Wainwright upped their price target on Travere Therapeutics from $57.00 to $67.00 and gave the stock a "buy" rating in a research note on Tuesday, June 2nd. Finally, Guggenheim increased their price objective on Travere Therapeutics from $65.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $68.00.

Institutional Investors Weigh In On Travere Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Jupiter Topco LLC acquired a new stake in shares of Travere Therapeutics in the second quarter valued at about $643,299,000. Bank of America Corp DE bought a new stake in Travere Therapeutics during the 2nd quarter valued at approximately $259,527,000. Perceptive Advisors LLC grew its holdings in Travere Therapeutics by 12.7% in the 4th 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 last quarter. Wellington Management Group LLP grew its holdings in Travere Therapeutics by 50.0% in the 2nd quarter. Wellington Management Group LLP now owns 1,533,080 shares of the company's stock valued at $87,094,000 after buying an additional 510,808 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Travere Therapeutics by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 2,143,495 shares of the company's stock worth $81,915,000 after buying an additional 5,465 shares during the period.

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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