Travere Therapeutics (NASDAQ:TVTX) Hits New 52-Week High – Time to Buy?

Travere Therapeutics, Inc. (NASDAQ:TVTX) hit a new 52-week high on Wednesday . The stock traded as high as $21.71 and last traded at $21.64, with a volume of 475928 shares traded. The stock had previously closed at $21.10.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TVTX. Cantor Fitzgerald assumed coverage on Travere Therapeutics in a report on Friday, January 10th. They issued an “overweight” rating for the company. Piper Sandler boosted their price objective 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. Scotiabank increased their target price on shares of Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. 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, Wells Fargo & Company raised shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $9.00 to $27.00 in a research note on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Travere Therapeutics Stock Performance

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

Insider Buying and Selling

In other news, CEO Eric M. Dube sold 10,736 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total transaction of $208,922.56. Following the sale, the chief executive officer now directly owns 351,239 shares in the company, valued at $6,835,110.94. This trade represents a 2.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sandra Calvin sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $17.22, for a total value of $258,300.00. Following the completion of the sale, the chief accounting officer now owns 54,927 shares of the company’s stock, valued at $945,842.94. This trade represents a 21.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,532 shares of company stock worth $2,625,498 in the last ninety days. 4.06% of the stock is owned by insiders.

Institutional Investors Weigh In On Travere Therapeutics

Several institutional investors have recently bought and sold shares of TVTX. Emerald Advisers LLC grew its stake in Travere Therapeutics by 19.8% during the 3rd quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock valued at $27,430,000 after acquiring an additional 323,513 shares in the last quarter. Finepoint Capital LP raised its holdings in shares of Travere Therapeutics by 0.3% during the 3rd quarter. Finepoint Capital LP now owns 1,782,267 shares of the company’s stock worth $24,934,000 after acquiring an additional 5,539 shares during the period. Geode Capital Management LLC boosted its position in shares of Travere Therapeutics by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock valued at $24,222,000 after acquiring an additional 64,744 shares during the last quarter. Emerald Mutual Fund Advisers Trust grew its holdings in shares of Travere Therapeutics by 26.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company’s stock valued at $16,588,000 after purchasing an additional 244,444 shares during the period. Finally, Parkman Healthcare Partners LLC boosted its holdings in Travere Therapeutics by 12.0% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,086,067 shares of the company’s stock valued at $15,194,000 after purchasing an additional 116,175 shares during the last quarter.

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.