Travere Therapeutics (NASDAQ:TVTX) Sets New 1-Year High - What's Next?

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report)'s stock price hit a new 52-week high on Thursday . The company traded as high as $20.33 and last traded at $20.19, with a volume of 864715 shares changing hands. The stock had previously closed at $19.46.

Wall Street Analysts Forecast Growth

Several research firms have commented on TVTX. Canaccord Genuity Group decreased their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a "buy" rating for the company in a research report on Monday, September 30th. Barclays upped their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Citigroup cut their target price on shares of Travere Therapeutics from $23.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, September 27th. Wells Fargo & Company upgraded shares of Travere Therapeutics from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $9.00 to $27.00 in a report on Monday, October 21st. Finally, Wedbush boosted their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an "outperform" rating in a report on Wednesday, October 9th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $24.00.

Travere Therapeutics Stock Performance

The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -4.57 and a beta of 0.70. The company's fifty day simple moving average is $18.23 and its 200 day simple moving average is $14.75. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.01. The business had revenue of $62.90 million during the quarter, compared to analysts' expectations of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. Travere Therapeutics's revenue was up 69.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.17) earnings per share. On average, equities research analysts expect that Travere Therapeutics, Inc. will post -3.92 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jula Inrig sold 2,066 shares of the firm's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $19.10, for a total transaction of $39,460.60. Following the completion of the sale, the insider now directly owns 59,883 shares of the company's stock, valued at $1,143,765.30. This trade represents a 3.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sandra Calvin sold 15,000 shares of Travere Therapeutics stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $17.22, for a total value of $258,300.00. Following the completion of the sale, the chief accounting officer now directly owns 54,927 shares of the company's stock, valued at approximately $945,842.94. This trade represents a 21.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,596 shares of company stock worth $527,262. Corporate insiders own 3.75% of the company's stock.

Institutional Trading of Travere Therapeutics

A number of hedge funds have recently bought and sold shares of TVTX. Millennium Management LLC boosted its holdings in Travere Therapeutics by 33.9% in the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company's stock valued at $24,244,000 after acquiring an additional 747,406 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Travere Therapeutics by 203.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company's stock worth $5,055,000 after buying an additional 412,000 shares during the last quarter. Emerald Advisers LLC raised its position in Travere Therapeutics by 19.8% in the 3rd quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company's stock worth $27,430,000 after buying an additional 323,513 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in Travere Therapeutics by 26.0% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company's stock worth $16,588,000 after buying an additional 244,444 shares during the last quarter. Finally, Walleye Capital LLC raised its position in Travere Therapeutics by 70.1% in the 3rd quarter. Walleye Capital LLC now owns 488,453 shares of the company's stock worth $6,833,000 after buying an additional 201,282 shares during the last quarter.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.

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