Travere Therapeutics (NASDAQ:TVTX) Hits New 12-Month High – What’s Next?

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 trading hands. The stock had previously closed at $21.10.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TVTX. Cantor Fitzgerald assumed coverage on Travere Therapeutics in a report on Friday, January 10th. They issued an “overweight” rating for the company. 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 report on Monday, October 21st. 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. HC Wainwright raised their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Finally, Barclays lifted their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.00.

Travere Therapeutics Stock Performance

The firm has a market cap of $1.70 billion, a PE ratio of -4.78 and a beta of 0.72. The company has a 50 day simple moving average of $18.80 and a 200-day simple moving average of $15.56. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 10,736 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total transaction of $208,922.56. Following the completion of the transaction, the chief executive officer now owns 351,239 shares of the company’s stock, valued at approximately $6,835,110.94. This trade represents a 2.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sandra Calvin sold 12,090 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $18.30, for a total value of $221,247.00. Following the transaction, the chief accounting officer now directly owns 54,927 shares of the company’s stock, valued at approximately $1,005,164.10. This trade represents a 18.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,532 shares of company stock worth $2,625,498 in the last ninety days. 4.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds have recently bought and sold shares of the company. R Squared Ltd bought a new position in Travere Therapeutics in the fourth quarter worth approximately $53,000. CWM LLC raised 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 purchasing an additional 3,065 shares during the period. Quarry LP purchased a new position in Travere Therapeutics during the third quarter valued at $105,000. Sei Investments Co. bought a new stake in Travere Therapeutics during the second quarter valued at about $117,000. Finally, Diversified Trust Co purchased a new stake in Travere Therapeutics in the third quarter worth about $161,000.

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.