Travere Therapeutics (NASDAQ:TVTX) Reaches New 1-Year High – Here’s Why

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $25.29 and last traded at $24.23, with a volume of 1089963 shares changing hands. The stock had previously closed at $21.10.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TVTX shares. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. Cantor Fitzgerald started coverage on Travere Therapeutics in a research report on Friday, January 10th. They issued an “overweight” rating on the stock. HC Wainwright raised their price target on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Barclays lifted their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Piper Sandler increased their price objective on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.77.

Travere Therapeutics Stock Down 2.3 %

The business’s 50-day moving average is $19.06 and its two-hundred day moving average is $15.95. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Insider Activity

In other Travere Therapeutics news, CAO Sandra Calvin sold 54,244 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the completion of the transaction, the chief accounting officer now directly owns 54,410 shares of the company’s stock, valued at $1,360,250. The trade was a 49.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jula Inrig sold 2,066 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $19.10, for a total transaction of $39,460.60. Following the completion of the sale, the insider now owns 59,883 shares in the company, valued at $1,143,765.30. The trade was a 3.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,425 shares of company stock valued at $4,674,259. 3.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. R Squared Ltd bought a new stake in shares of Travere Therapeutics during the fourth quarter valued at about $53,000. CWM LLC lifted its stake in shares of 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 during the period. Quarry LP bought a new position in shares of Travere Therapeutics in the third quarter valued at approximately $105,000. Aigen Investment Management LP acquired a new position in shares of Travere Therapeutics during the third quarter valued at approximately $170,000. Finally, Victory Capital Management Inc. bought a new stake in Travere Therapeutics during the fourth quarter worth approximately $182,000.

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.