Travere Therapeutics (NASDAQ:TVTX) CFO Sells $3,148,668.72 in Stock

Key Points

• CFO Christopher Cline sold 50,508 Travere Therapeutics shares for approximately $3.15 million at an average price of $62.34 under a pre-arranged Rule 10b5-1 plan, reducing his direct holdings by 36.6%.
• Travere reported stronger-than-expected quarterly results, with adjusted EPS of negative $0.10 versus estimates of negative $0.13 and revenue of $169.58 million, up 48.2% year over year.
• Analysts remain broadly positive on TVTX, with a “Moderate Buy” consensus and an average price target of $68; recent targets range from $65 to $85.

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) CFO Christopher Cline sold 50,508 shares of Travere Therapeutics stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $62.34, for a total value of $3,148,668.72. Following the sale, the chief financial officer directly owned 87,508 shares of the company's stock, valued at approximately $5,455,248.72. This represents a 36.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Stock Performance

Shares of TVTX stock traded up $1.26 during mid-day trading 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 1-year low of $22.06 and a 1-year high of $68.73. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of -140.74 and a beta of 1.05. The business's fifty day moving average is $61.63 and its 200-day moving average is $48.50.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $157.27 million. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The business's revenue for the quarter was up 48.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 EPS. On average, research analysts forecast that Travere Therapeutics, Inc. will post -0.54 earnings per share for the current year.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in Travere Therapeutics by 53.4% during the second quarter. GAMMA Investing LLC now owns 606 shares of the company's stock worth $34,000 after acquiring an additional 211 shares during the period. Fifth Third Bancorp purchased a new stake in shares of Travere Therapeutics during the first quarter worth about $35,000. Allworth Financial LP acquired a new position in shares of Travere Therapeutics during the 2nd quarter worth about $47,000. Integrated Wealth Concepts LLC purchased a new position in Travere Therapeutics in the 2nd quarter valued at about $70,000. Finally, IFP Advisors Inc boosted its holdings in Travere Therapeutics by 11,770.0% in the 4th quarter. IFP Advisors Inc now owns 2,374 shares of the company's stock worth $91,000 after buying an additional 2,354 shares during the last quarter.

Wall Street Analysts Forecast Growth

TVTX has been the topic of a number of recent research reports. Guggenheim upped their target price on Travere Therapeutics from $65.00 to $75.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Piper Sandler reaffirmed an "overweight" rating on shares of Travere Therapeutics in a research note on Monday, August 17th. Wells Fargo & Company boosted their target price on shares of Travere Therapeutics from $50.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, June 12th. Wedbush increased their price target on shares of Travere Therapeutics from $61.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Finally, Citigroup raised their price target 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 investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Travere Therapeutics currently has an average rating of "Moderate Buy" and a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.