Travere Therapeutics (NASDAQ:TVTX) EVP Sells $10,955,439.31 in Stock

Key Points

• Executive sale: Travere Therapeutics EVP Peter Heerma sold 172,717 shares for approximately $10.96 million under a pre-arranged Rule 10b5-1 plan, reducing his holdings by 59.6% to 117,066 shares.
• Stock performance: TVTX shares rose 2.0% to $64.74, trading near their 12-month high of $68.73 and well above the 200-day moving average of $48.50.
• Analyst outlook and results: Travere beat quarterly revenue and EPS expectations, while analysts maintain a “Moderate Buy” consensus with an average price target of $68.00.

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) EVP Peter Heerma sold 172,717 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $63.43, for a total transaction of $10,955,439.31. Following the completion of the sale, the executive vice president owned 117,066 shares in the company, valued at approximately $7,425,496.38. This trade represents a 59.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 value of $538,909.74.
• On Tuesday, September 15th, Peter Heerma sold 102,190 shares of Travere Therapeutics stock. The stock was sold at an average price of $62.26, for a total transaction of $6,362,349.40.

Travere Therapeutics Stock Up 2.0%

Shares of TVTX traded up $1.26 during midday trading on Thursday, hitting $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 50 day simple moving average of $61.63 and a two-hundred day simple moving average of $48.50. Travere Therapeutics, Inc. has a twelve month low of $22.06 and a twelve month high of $68.73. 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 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) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.03. The company had revenue of $169.58 million during the quarter, compared to analysts' expectations of $157.27 million. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.Travere Therapeutics's revenue for the quarter was up 48.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 EPS. On average, analysts anticipate that Travere Therapeutics, Inc. will post -0.54 EPS for the current year.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. S&CO Inc. acquired a new stake in shares of Travere Therapeutics during the 2nd quarter valued at $3,181,000. Artia Global Partners LP acquired a new position in Travere Therapeutics in the 2nd quarter worth about $19,260,000. Profund Advisors LLC raised its position in Travere Therapeutics by 209.3% in the fourth quarter. Profund Advisors LLC now owns 62,604 shares of the company's stock valued at $2,392,000 after purchasing an additional 42,366 shares during the last quarter. Quantinno Capital Management LP raised its position in Travere Therapeutics by 354.4% in the first quarter. Quantinno Capital Management LP now owns 68,317 shares of the company's stock valued at $2,030,000 after purchasing an additional 53,283 shares during the last quarter. Finally, Elmind Capital LP acquired a new stake in shares of Travere Therapeutics during the second quarter valued at about $16,622,606.

Wall Street Analysts Forecast Growth

TVTX has been the topic of several research analyst reports. Weiss Ratings cut shares of Travere Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, June 23rd. Wells Fargo & Company boosted their price objective on Travere Therapeutics from $50.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. Evercore set a $78.00 target price on Travere Therapeutics in a research report on Monday, August 10th. Citigroup increased their target price on Travere Therapeutics from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, HC Wainwright lifted their price target on Travere Therapeutics from $57.00 to $67.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. 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 company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $68.00.

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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