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

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $21.71 and last traded at $21.64, with a volume of 475928 shares trading hands. The stock had previously closed at $21.10.

Analysts Set New Price Targets

Several research analysts have commented on the company. Cantor Fitzgerald initiated coverage on Travere Therapeutics in a research note on Friday, January 10th. They issued an "overweight" rating for the company. HC Wainwright raised their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. Barclays upped their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Wells Fargo & Company upgraded shares of Travere Therapeutics from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $9.00 to $27.00 in a research note on Monday, October 21st. Finally, Piper Sandler boosted their price target on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Travere Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $24.00.

Travere Therapeutics Price Performance

The firm has a fifty day moving average of $18.86 and a two-hundred day moving average of $15.73. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The company has a market capitalization of $1.70 billion, a PE ratio of -4.78 and a beta of 0.72.

Insider Activity

In other news, Director Roy D. Baynes sold 16,000 shares of Travere Therapeutics stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $20.00, for a total value of $320,000.00. Following the sale, the director now directly owns 31,000 shares in the company, valued at approximately $620,000. This trade represents a 34.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric M. Dube sold 50,691 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $20.21, for a total value of $1,024,465.11. Following the transaction, the chief executive officer now owns 430,548 shares of the company's stock, valued at approximately $8,701,375.08. This represents a 10.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,532 shares of company stock valued at $2,625,498. 3.75% of the stock is currently owned by company insiders.

Institutional Trading of Travere Therapeutics

Large investors have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in shares of Travere Therapeutics during the 4th quarter valued at about $53,000. CWM LLC boosted its position in Travere Therapeutics by 158.5% during the 3rd quarter. CWM LLC now owns 4,999 shares of the company's stock valued at $70,000 after acquiring an additional 3,065 shares in the last quarter. Quarry LP purchased a new position in shares of Travere Therapeutics during the 3rd quarter worth approximately $105,000. Victory Capital Management Inc. purchased a new stake in Travere Therapeutics in the fourth quarter worth $182,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in shares of Travere Therapeutics in the 4th quarter worth about $192,000.

About Travere Therapeutics

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.