Roy D. Baynes Sells 10,000 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock

Travere Therapeutics, Inc. (NASDAQ:TVTX) Director Roy D. Baynes sold 10,000 shares of Travere Therapeutics stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $22.00, for a total value of $220,000.00. Following the completion of the sale, the director now directly owns 31,000 shares in the company, valued at approximately $682,000. The trade was a 24.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Travere Therapeutics Price Performance

TVTX opened at $23.75 on Wednesday. The business has a fifty day moving average of $18.98 and a 200 day moving average of $15.90. Travere Therapeutics, Inc. has a 52-week low of $5.12 and a 52-week high of $25.29. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The stock has a market cap of $1.85 billion, a P/E ratio of -5.22 and a beta of 0.72.

Institutional Investors Weigh In On Travere Therapeutics

Several hedge funds have recently made changes to their positions in TVTX. Jennison Associates LLC purchased a new stake in shares of Travere Therapeutics in the 4th quarter worth $14,222,000. abrdn plc purchased a new stake in shares of Travere Therapeutics in the 4th quarter worth $6,829,000. Prudential Financial Inc. lifted its holdings in shares of Travere Therapeutics by 60.5% in the 4th quarter. Prudential Financial Inc. now owns 969,141 shares of the company’s stock worth $16,882,000 after buying an additional 365,200 shares during the period. Emerald Advisers LLC lifted its holdings in shares of Travere Therapeutics by 19.8% in the 3rd quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock worth $27,430,000 after buying an additional 323,513 shares during the period. Finally, Impax Asset Management Group plc purchased a new stake in shares of Travere Therapeutics in the 4th quarter worth $5,226,000.

Analyst Ratings Changes

TVTX has been the topic of several analyst reports. Scotiabank boosted their target price on Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $9.00 to $27.00 in a research report on Monday, October 21st. Piper Sandler boosted 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. Barclays boosted 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. Finally, Cantor Fitzgerald initiated coverage on Travere Therapeutics in a research report on Friday, January 10th. They set an “overweight” rating on the stock. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

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.