Travere Therapeutics (NASDAQ:TVTX) Director Timothy Coughlin Sells 10,000 Shares

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Timothy Coughlin sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $50.07, for a total transaction of $500,700.00. Following the completion of the sale, the director owned 56,250 shares of the company’s stock, valued at approximately $2,816,437.50. This trade represents a 15.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travere Therapeutics Stock Down 0.7%

TVTX traded down $0.37 during trading on Tuesday, hitting $53.43. The stock had a trading volume of 2,088,537 shares, compared to its average volume of 2,212,919. The company has a market capitalization of $4.97 billion, a PE ratio of -232.29 and a beta of 1.13. Travere Therapeutics, Inc. has a twelve month low of $13.88 and a twelve month high of $54.38. The company has a debt-to-equity ratio of 3.16, a quick ratio of 3.08 and a current ratio of 3.13. The stock has a 50 day simple moving average of $42.17 and a two-hundred day simple moving average of $35.38.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.29. The company had revenue of $127.20 million during the quarter, compared to the consensus estimate of $136.23 million. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. Travere Therapeutics’s revenue was up 55.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.47) earnings per share. On average, research analysts predict that Travere Therapeutics, Inc. will post -0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in shares of Travere Therapeutics in the second quarter worth $33,000. Fifth Third Bancorp purchased a new position in shares of Travere Therapeutics during the first quarter worth $35,000. State of Wyoming purchased a new position in shares of Travere Therapeutics during the fourth quarter worth $37,000. Torren Management LLC purchased a new position in shares of Travere Therapeutics during the fourth quarter worth $38,000. Finally, Comerica Bank raised its holdings in shares of Travere Therapeutics by 77.5% during the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after purchasing an additional 492 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, March 25th. Weiss Ratings upgraded shares of Travere Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 21st. Guggenheim raised their target price on shares of Travere Therapeutics from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, April 24th. HC Wainwright raised their target price on shares of Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Finally, Wells Fargo & Company raised their price target on shares of Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Travere Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $50.83.

About Travere Therapeutics

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.