Peter Heerma Sells 102,190 Shares of Travere Therapeutics (NASDAQ:TVTX) Stock

Key Points

• Executive Peter Heerma sold 102,190 Travere Therapeutics shares for approximately $6.36 million at an average price of $62.26, reducing his ownership by 46.61% to 117,066 shares. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Heerma also sold 172,717 shares for roughly $10.96 million on September 16 and 8,282 shares for about $539,000 on September 17, bringing his recent sales to approximately $17.86 million.
• Travere shares recently traded at $64.74, near their 12-month high of $68.73. Analysts maintain a “Moderate Buy” consensus with an average price target of $68, while the company reported revenue growth of 48.2% year over year in its latest quarter.

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) EVP Peter Heerma sold 102,190 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 value of $6,362,349.40. Following the completion of the sale, the executive vice president owned 117,066 shares of the company's stock, valued at $7,288,529.16. The trade was a 46.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Peter Heerma also recently made the following trade(s):

• On Thursday, September 17th, Peter Heerma sold 8,282 shares of Travere Therapeutics stock. The shares were sold at an average price of $65.07, for a total transaction of $538,909.74.
• On Wednesday, September 16th, Peter Heerma sold 172,717 shares of Travere Therapeutics stock. The shares were sold at an average price of $63.43, for a total value of $10,955,439.31.

Travere Therapeutics Stock Performance

Shares of TVTX traded up $1.26 on Thursday, reaching $64.74. The company's stock had a trading volume of 1,384,694 shares, compared to its average volume of 1,246,848. The stock's 50 day simple moving average is $61.63 and its two-hundred day simple 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. The stock has a market capitalization of $6.10 billion, a P/E ratio of -140.74 and a beta of 1.05. Travere Therapeutics, Inc. has a 12-month low of $22.06 and a 12-month high of $68.73.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, topping 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 analysts' expectations of $157.27 million. During the same quarter in the prior year, the business posted $0.13 earnings per share. The business's quarterly revenue was up 48.2% on a year-over-year basis. Research analysts forecast that Travere Therapeutics, Inc. will post -0.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on TVTX shares. Evercore set a $78.00 target price on Travere Therapeutics in a research report on Monday, August 10th. Wells Fargo & Company increased their price objective on shares of Travere Therapeutics from $50.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, June 12th. TD Cowen lifted their price target on shares of Travere Therapeutics from $60.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Canaccord Genuity Group raised their price objective on Travere Therapeutics from $62.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Finally, Wedbush lifted 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. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $68.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Jupiter Topco LLC bought a new position in Travere Therapeutics in the second quarter worth approximately $643,299,000. Bank of America Corp DE bought a new position in shares of Travere Therapeutics during the 2nd quarter worth $259,527,000. Perceptive Advisors LLC grew its position in shares of Travere Therapeutics by 12.7% during the 4th quarter. Perceptive Advisors LLC now owns 4,278,180 shares of the company's stock worth $163,469,000 after buying an additional 483,565 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Travere Therapeutics by 50.0% during the second 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 period. Finally, Geode Capital Management LLC increased its stake in shares of Travere Therapeutics by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 2,143,495 shares of the company's stock valued at $81,915,000 after buying an additional 5,465 shares during the period.

About Travere Therapeutics

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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