Travere Therapeutics (NASDAQ:TVTX) Reaches New 1-Year High - Still a Buy?

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $67.50 and last traded at $67.12, with a volume of 1214397 shares changing hands. The stock had previously closed at $67.01.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Weiss Ratings cut shares of Travere Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, June 23rd. Wells Fargo & Company increased their price target on shares of Travere Therapeutics from $50.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, June 12th. Wall Street Zen lowered shares of Travere Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. TD Cowen upped their target price on Travere Therapeutics from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Finally, Canaccord Genuity Group raised their price target on shares of Travere Therapeutics from $62.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $61.67.

Travere Therapeutics Stock Performance

The firm's 50 day moving average price is $58.88 and its two-hundred day moving average price is $44.43. The company has a debt-to-equity ratio of 24.58, a quick ratio of 3.99 and a current ratio of 4.05. The firm has a market cap of $6.33 billion, a PE ratio of -145.91 and a beta of 1.12.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.03. The firm had revenue of $169.58 million for 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 company's quarterly revenue was up 48.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 EPS. On average, research analysts forecast that Travere Therapeutics, Inc. will post -0.56 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Timothy Coughlin sold 10,000 shares of the business's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.07, for a total value of $500,700.00. Following the sale, the director directly owned 56,250 shares in the company, valued at $2,816,437.50. The trade was a 15.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy D. Baynes sold 4,500 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $50.00, for a total transaction of $225,000.00. Following the sale, the director directly owned 41,500 shares in the company, valued at $2,075,000. This represents a 9.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.44% of the company's stock.

Hedge Funds Weigh In On Travere Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in TVTX. GAMMA Investing LLC lifted its stake in shares of Travere Therapeutics by 53.4% in the 2nd quarter. GAMMA Investing LLC now owns 606 shares of the company's stock valued at $34,000 after purchasing an additional 211 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Travere Therapeutics by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company's stock worth $45,000 after buying an additional 487 shares during the period. Comerica Bank increased its stake in shares of Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company's stock worth $43,000 after acquiring an additional 492 shares in the last quarter. ProShare Advisors LLC grew its holdings in Travere Therapeutics by 4.1% in the fourth quarter. ProShare Advisors LLC now owns 19,007 shares of the company's stock worth $726,000 after purchasing an additional 756 shares during the period. Finally, Allworth Financial LP bought a new stake in shares of Travere Therapeutics in the 2nd quarter worth approximately $47,000.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc NASDAQ: TVTX is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company's mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company's lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.

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