Travere Therapeutics (NASDAQ:TVTX) Reaches New 52-Week High – Still a Buy?

Travere Therapeutics, Inc. (NASDAQ:TVTX) reached a new 52-week high on Friday . The company traded as high as $37.50 and last traded at $36.0350, with a volume of 97887 shares. The stock had previously closed at $36.26.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wall Street Zen downgraded Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Zacks Research downgraded Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. TD Cowen increased their target price on Travere Therapeutics from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Citigroup lifted their price target on shares of Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Wedbush upped their price objective on shares of Travere Therapeutics from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.71.

Travere Therapeutics Price Performance

The company has a 50-day moving average of $30.04 and a 200 day moving average of $21.65. The company has a quick ratio of 1.98, a current ratio of 2.00 and a debt-to-equity ratio of 9.50. The stock has a market capitalization of $3.18 billion, a PE ratio of -17.44 and a beta of 0.90.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, October 30th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.59. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The company had revenue of $164.86 million for the quarter, compared to analysts’ expectations of $106.09 million. During the same quarter in the previous year, the company posted ($0.70) EPS. The firm’s quarterly revenue was up 162.1% on a year-over-year basis. Sell-side analysts predict that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Insider Activity

In other news, insider Peter Heerma sold 5,591 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $35.00, for a total transaction of $195,685.00. Following the transaction, the insider directly owned 119,071 shares in the company, valued at $4,167,485. The trade was a 4.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eric M. Dube sold 92,872 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $30.38, for a total value of $2,821,451.36. Following the completion of the sale, the chief executive officer owned 419,173 shares of the company’s stock, valued at $12,734,475.74. This trade represents a 18.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 223,941 shares of company stock valued at $7,221,380 in the last ninety days. 4.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Travere Therapeutics

Several hedge funds have recently made changes to their positions in TVTX. Arizona State Retirement System grew its position in Travere Therapeutics by 1.5% in the third quarter. Arizona State Retirement System now owns 24,964 shares of the company’s stock worth $597,000 after acquiring an additional 375 shares during the period. Prudential Financial Inc. lifted its stake in shares of Travere Therapeutics by 0.3% in the 2nd quarter. Prudential Financial Inc. now owns 244,256 shares of the company’s stock valued at $3,615,000 after purchasing an additional 615 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Travere Therapeutics by 3.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 22,688 shares of the company’s stock valued at $336,000 after purchasing an additional 773 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Travere Therapeutics by 3.5% during the 3rd quarter. Diversified Trust Co now owns 23,695 shares of the company’s stock worth $566,000 after purchasing an additional 796 shares during the period. Finally, E Fund Management Co. Ltd. increased its position in shares of Travere Therapeutics by 8.6% during the 1st quarter. E Fund Management Co. Ltd. now owns 13,553 shares of the company’s stock worth $243,000 after purchasing an additional 1,072 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.