Travere Therapeutics (NASDAQ:TVTX) Sets New 12-Month High – Here’s What Happened

Travere Therapeutics, Inc. (NASDAQ:TVTX) hit a new 52-week high during trading on Wednesday . The company traded as high as $21.71 and last traded at $21.64, with a volume of 475928 shares changing hands. The stock had previously closed at $21.10.

Analysts Set New Price Targets

A number of brokerages recently commented on TVTX. Barclays upped their target price on Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Piper Sandler upped their target price on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. HC Wainwright upped their target price on Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Guggenheim upped their target price on Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Scotiabank upped their price objective on Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Travere Therapeutics Stock Up 0.3 %

The stock has a market cap of $1.65 billion, a PE ratio of -4.66 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. The business has a 50-day moving average price of $18.69 and a 200-day moving average price of $15.47.

Insider Activity

In related news, SVP William E. Rote sold 2,437 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $47,424.02. Following the completion of the transaction, the senior vice president now directly owns 83,170 shares of the company’s stock, valued at approximately $1,618,488.20. This represents a 2.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sandra Calvin sold 15,000 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $17.22, for a total value of $258,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 54,927 shares of the company’s stock, valued at approximately $945,842.94. This represents a 21.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,532 shares of company stock worth $2,625,498 in the last quarter. Corporate insiders own 4.06% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Emerald Advisers LLC lifted its position in Travere Therapeutics by 19.8% in the third quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock valued at $27,430,000 after buying an additional 323,513 shares during the last quarter. Finepoint Capital LP boosted its holdings in Travere Therapeutics by 0.3% during the 3rd quarter. Finepoint Capital LP now owns 1,782,267 shares of the company’s stock valued at $24,934,000 after acquiring an additional 5,539 shares during the period. Geode Capital Management LLC grew its position in Travere Therapeutics by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock valued at $24,222,000 after acquiring an additional 64,744 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in Travere Therapeutics by 26.0% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company’s stock worth $16,588,000 after purchasing an additional 244,444 shares during the period. Finally, Parkman Healthcare Partners LLC increased its stake in Travere Therapeutics by 12.0% during the third quarter. Parkman Healthcare Partners LLC now owns 1,086,067 shares of the company’s stock worth $15,194,000 after purchasing an additional 116,175 shares during the period.

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.