Travere Therapeutics (NASDAQ:TVTX) Sets New 12-Month High - Here's Why

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $25.29 and last traded at $24.23, with a volume of 1089963 shares. The stock had previously closed at $21.10.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TVTX shares. Barclays lifted their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Scotiabank boosted their target price on Travere Therapeutics from $23.00 to $27.00 and gave the company a "sector outperform" rating in a research note on Friday, November 1st. HC Wainwright increased their target price on Travere Therapeutics from $18.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Wells Fargo & Company raised Travere Therapeutics from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $9.00 to $27.00 in a research note on Monday, October 21st. Finally, Cantor Fitzgerald assumed coverage on Travere Therapeutics in a research note on Friday, January 10th. They set an "overweight" rating for the company. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Travere Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

Travere Therapeutics Stock Up 14.1 %

The company's fifty day simple moving average is $18.89 and its 200 day simple moving average is $15.81. The firm has a market capitalization of $1.88 billion, a P/E ratio of -5.30 and a beta of 0.72. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96.

Insider Buying and Selling at Travere Therapeutics

In other news, CEO Eric M. Dube sold 50,691 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $20.21, for a total value of $1,024,465.11. Following the sale, the chief executive officer now directly owns 430,548 shares of the company's stock, valued at approximately $8,701,375.08. This represents a 10.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sandra Calvin sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $17.22, for a total transaction of $258,300.00. Following the sale, the chief accounting officer now directly owns 54,927 shares of the company's stock, valued at $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 144,532 shares of company stock valued at $2,845,498. 3.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TVTX. R Squared Ltd purchased a new stake in Travere Therapeutics in the fourth quarter worth about $53,000. CWM LLC increased its holdings in Travere Therapeutics by 158.5% in the 3rd quarter. CWM LLC now owns 4,999 shares of the company's stock worth $70,000 after acquiring an additional 3,065 shares in the last quarter. Quarry LP bought a new stake in Travere Therapeutics during the 3rd quarter worth approximately $105,000. Victory Capital Management Inc. purchased a new position in Travere Therapeutics during the fourth quarter valued at approximately $182,000. Finally, Baader Bank Aktiengesellschaft purchased a new position in Travere Therapeutics during the fourth quarter valued at approximately $192,000.

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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