Travere Therapeutics (NASDAQ:TVTX) CEO Sells $12,426,111.45 in Stock

Key Points

• CEO Eric Dube sold 195,841 Travere Therapeutics shares for approximately $12.43 million at an average price of $63.45 under a pre-arranged Rule 10b5-1 trading plan, reducing his direct stake by 31.15%.
• Travere shares rose 2.0% to $64.74, near their 52-week high of $68.73. The company reported quarterly revenue of $169.58 million, up 48.2% year over year, and exceeded analyst expectations on adjusted earnings.
• Analyst sentiment remains favorable, with 10 Buy ratings, one Hold, and one Sell; the stock has a “Moderate Buy” consensus and an average price target of $68.00.

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) CEO Eric Dube sold 195,841 shares of the company's stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $63.45, for a total transaction of $12,426,111.45. Following the sale, the chief executive officer directly owned 432,886 shares of the company's stock, valued at approximately $27,466,616.70. This represents a 31.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Trading Up 2.0%

Shares of TVTX stock traded up $1.26 during trading on Thursday, hitting $64.74. 1,384,694 shares of the stock traded hands, compared to its average volume of 1,246,848. The firm 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 52-week low of $22.06 and a 52-week high of $68.73. 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 firm's fifty day moving average price is $61.63 and its 200-day moving average price is $48.50.

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

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jupiter Topco LLC acquired a new stake in Travere Therapeutics during the 2nd quarter worth $643,299,000. Bank of America Corp DE acquired a new position in Travere Therapeutics in the second quarter valued at $259,527,000. Perceptive Advisors LLC raised its holdings in shares of Travere Therapeutics by 12.7% in 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 last quarter. Wellington Management Group LLP raised its holdings in shares of Travere Therapeutics by 50.0% in 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 last quarter. Finally, Geode Capital Management LLC boosted 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 worth $81,915,000 after buying an additional 5,465 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of Travere Therapeutics from $50.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, June 12th. Evercore set a $78.00 price target on Travere Therapeutics in a report on Monday, August 10th. TD Cowen raised their price target on Travere Therapeutics from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Canaccord Genuity Group boosted their price objective on shares of Travere Therapeutics from $62.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Finally, Citigroup increased their target price on shares of Travere Therapeutics from $70.00 to $85.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Travere Therapeutics presently has an average 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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