Travere Therapeutics (NASDAQ:TVTX) Sets New 52-Week High - Time to Buy?

Key Points

• Shares of Travere Therapeutics reached a new 52-week high of $43.70 and were last trading around $43.51 on volume of 289,338, while MarketBeat shows a consensus rating of Moderate Buy with a $42.67 price target.
• Company insiders have been net sellers — including CEO Eric Dube's sale of 64,000 shares — with insiders selling 453,169 shares (~$16.37M) in the past 90 days, though many trades were executed under pre-arranged Rule 10b5‑1 plans.
• Institutional investors have been increasing stakes (notably State Street, Wellington and Stephens) even as Travere shows a $4.06B market cap, a negative P/E (−146.52) and a debt-to-equity ratio of 2.71.

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $43.70 and last traded at $43.5070, with a volume of 289338 shares trading hands. The stock had previously closed at $42.12.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TVTX. JPMorgan Chase & Co. decreased their target price on shares of Travere Therapeutics from $44.00 to $41.00 and set an "overweight" rating for the company in a research report on Wednesday, March 25th. Wall Street Zen downgraded Travere Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 21st. HC Wainwright reissued a "buy" rating and issued a $47.00 price objective on shares of Travere Therapeutics in a report on Tuesday, April 14th. Weiss Ratings restated a "sell (e+)" rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Finally, Piper Sandler raised Travere Therapeutics from a "neutral" rating to an "overweight" rating and set a $49.00 target price on the stock in a report on Tuesday, April 14th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Travere Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.67.

Travere Therapeutics Price Performance

The company has a current ratio of 2.74, a quick ratio of 2.70 and a debt-to-equity ratio of 2.71. The stock has a 50-day moving average price of $32.02 and a 200 day moving average price of $32.50. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of -146.52 and a beta of 0.86.

Insider Buying and Selling

In related news, insider William E. Rote sold 9,100 shares of the business's stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $39.09, for a total value of $355,719.00. Following the completion of the sale, the insider owned 113,987 shares of the company's stock, valued at approximately $4,455,751.83. The trade was a 7.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric M. Dube sold 64,000 shares of the company's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $41.09, for a total transaction of $2,629,760.00. Following the transaction, the chief executive officer owned 432,886 shares of the company's stock, valued at $17,787,285.74. This represents a 12.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 453,169 shares of company stock valued at $16,369,723 in the last 90 days. Corporate insiders own 4.44% of the company's stock.

Institutional Trading of Travere Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Stephens Investment Management Group LLC acquired a new position in shares of Travere Therapeutics during the 3rd quarter worth about $38,232,000. State Street Corp increased its stake in Travere Therapeutics by 47.8% during the 4th quarter. State Street Corp now owns 4,756,666 shares of the company's stock worth $181,752,000 after buying an additional 1,538,827 shares in the last quarter. Wellington Management Group LLP increased its stake in Travere Therapeutics by 3,331.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company's stock worth $28,715,000 after buying an additional 1,166,460 shares in the last quarter. Fiera Capital Corp acquired a new position in shares of Travere Therapeutics during the fourth quarter valued at approximately $33,398,000. Finally, Perceptive Advisors LLC acquired a new position in shares of Travere Therapeutics during the second quarter valued at approximately $12,347,000.

About Travere Therapeutics

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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