Travere Therapeutics (NASDAQ:TVTX) Trading 7.1% Higher - Time to Buy?

Key Points

• Shares jumped ~7.1% intraday to about $31.02 on Monday, though trading volume was unusually light at ~370,881 shares (down ~81% vs. the average session).
• Analysts collectively rate Travere as a “Moderate Buy” with an average target of $38.27 (nine Buys, three Holds, one Sell), and recent targets range from $35–$49 across firms like Piper Sandler, JPMorgan and Guggenheim.
• Insiders have been net sellers: the CEO sold 60,000 shares (~$1.86M) under a 10b5-1 plan and insiders sold 312,067 shares (~$9.76M) last quarter, while insiders still own 4.06% of the stock.

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) traded up 7.1% during mid-day trading on Monday . The stock traded as high as $31.15 and last traded at $31.0150. 370,881 shares traded hands during trading, a decline of 81% from the average session volume of 1,917,681 shares. The stock had previously closed at $28.96.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Travere Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 21st. Guggenheim reaffirmed a "buy" rating and set a $49.00 price objective on shares of Travere Therapeutics in a research report on Wednesday, January 14th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. Piper Sandler increased their target price on shares of Travere Therapeutics from $35.00 to $38.00 and gave the stock a "neutral" rating in a report on Friday, February 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Travere Therapeutics from $44.00 to $41.00 and set an "overweight" rating for the company in a report on Wednesday, March 25th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.27.

Travere Therapeutics Trading Up 7.9%

The stock has a market cap of $2.89 billion, a price-to-earnings ratio of -104.11 and a beta of 0.86. The company has a quick ratio of 2.70, a current ratio of 2.74 and a debt-to-equity ratio of 2.71. The business's 50 day simple moving average is $29.24 and its 200 day simple moving average is $31.14.

Insider Transactions at Travere Therapeutics

In other news, CFO Christopher R. Cline sold 1,745 shares of the firm's stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $32.19, for a total transaction of $56,171.55. Following the completion of the sale, the chief financial officer owned 111,226 shares in the company, valued at approximately $3,580,364.94. This trade represents a 1.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eric M. Dube sold 60,000 shares of the firm's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $30.93, for a total transaction of $1,855,800.00. Following the sale, the chief executive officer owned 432,886 shares of the company's stock, valued at approximately $13,389,163.98. This represents a 12.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 312,067 shares of company stock valued at $9,755,570. 4.06% of the stock is owned by company insiders.

Institutional Trading of Travere Therapeutics

A number of hedge funds have recently modified their holdings of TVTX. Rockefeller Capital Management L.P. increased its holdings in Travere Therapeutics by 1,604.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,642 shares of the company's stock valued at $101,000 after buying an additional 2,487 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in Travere Therapeutics in the 4th quarter valued at about $278,000. Empowered Funds LLC bought a new position in Travere Therapeutics in the 4th quarter valued at about $115,000. KVP Capital Advisors LP bought a new stake in shares of Travere Therapeutics during the 4th quarter valued at approximately $3,477,000. Finally, XTX Topco Ltd grew its holdings in shares of Travere Therapeutics by 475.0% during the 4th quarter. XTX Topco Ltd now owns 60,680 shares of the company's stock valued at $2,319,000 after purchasing an additional 50,127 shares during the last quarter.

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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