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

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) reached 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. The stock had previously closed at $21.10.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Scotiabank lifted their price target on shares of Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. Wells Fargo & Company upgraded Travere Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $9.00 to $27.00 in a research report on Monday, October 21st. Cantor Fitzgerald initiated coverage on Travere Therapeutics in a research report on Friday, January 10th. They issued an “overweight” rating on the stock. Finally, HC Wainwright raised their price target on Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Travere Therapeutics Stock Performance

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 company has a market capitalization of $1.88 billion, a P/E ratio of -5.30 and a beta of 0.72. The business has a 50-day moving average of $18.89 and a 200-day moving average of $15.81.

Insider Transactions at Travere Therapeutics

In related news, Director Roy D. Baynes sold 10,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $220,000.00. Following the completion of the transaction, the director now owns 31,000 shares in the company, valued at $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 through this hyperlink. Also, CFO Christopher R. Cline sold 5,192 shares of Travere Therapeutics stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $20.12, for a total value of $104,463.04. Following the sale, the chief financial officer now owns 90,038 shares of the company’s stock, valued at approximately $1,811,564.56. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 144,532 shares of company stock worth $2,845,498. 3.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Travere Therapeutics

Several hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in shares of Travere Therapeutics by 55.7% during the second quarter. AQR Capital Management LLC now owns 74,069 shares of the company’s stock valued at $609,000 after purchasing an additional 26,485 shares in the last quarter. CWM LLC lifted its holdings in Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after buying an additional 3,065 shares during the period. Creative Planning boosted its position in Travere Therapeutics by 4.3% during the 3rd quarter. Creative Planning now owns 23,938 shares of the company’s stock valued at $335,000 after acquiring an additional 995 shares in the last quarter. Semanteon Capital Management LP purchased a new position in shares of Travere Therapeutics in the 3rd quarter valued at $513,000. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Travere Therapeutics by 64.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,712 shares of the company’s stock worth $206,000 after acquiring an additional 5,767 shares in 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.