Travere Therapeutics (NASDAQ:TVTX) Insider Elizabeth Reed Sells 10,000 Shares of Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) insider Elizabeth Reed sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the transaction, the insider directly owned 105,211 shares in the company, valued at $3,156,330. This trade represents a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Price Performance

TVTX stock opened at $30.44 on Friday. Travere Therapeutics, Inc. has a 1 year low of $12.91 and a 1 year high of $42.13. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.74 and a quick ratio of 2.70. The firm has a market capitalization of $2.81 billion, a PE ratio of -101.46 and a beta of 0.86. The business has a 50 day simple moving average of $29.18 and a 200-day simple moving average of $30.75.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in shares of Travere Therapeutics during the 2nd quarter worth about $33,000. First Horizon Corp purchased a new position in Travere Therapeutics during the third quarter worth about $36,000. State of Wyoming purchased a new position in Travere Therapeutics during the fourth quarter worth about $37,000. Torren Management LLC acquired a new stake in shares of Travere Therapeutics during the fourth quarter valued at about $38,000. Finally, Comerica Bank raised 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 valued at $43,000 after acquiring an additional 492 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TVTX shares. Guggenheim reaffirmed a “buy” rating and issued a $49.00 target price on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Wall Street Zen lowered shares of Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, January 21st. JPMorgan Chase & Co. reduced their target price on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. Finally, Piper Sandler boosted their target price on shares of Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

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.