Bullish indicating open at $55-$60, IPO prices at $37
Eric M. Dube, CEO of Travere Therapeutics, Inc. (NASDAQ:TVTX), recently sold 11,375 shares of the company’s common stock. The sale, which took place on February 11, 2025, was executed at a price of $24.04 per share, totaling approximately $273,455. The transaction comes as the stock has shown remarkable strength, delivering a 190% return over the past year according to InvestingPro data. Following this transaction, Dube retains ownership of 419,173 shares of Travere Therapeutics. This sale was conducted under a prearranged trading plan established on March 15, 2024, in accordance with Rule 10b5-1. With the company’s next earnings report due on March 3, 2025, InvestingPro analysis reveals that three analysts have recently revised their earnings expectations upward. For deeper insights into TVTX’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Travere Therapeutics has announced plans to file a supplemental new drug application (sNDA) for Filspari, aimed at treating focal segmental glomerulosclerosis (FSGS). This decision follows a successful Type C meeting with the FDA, with the company expecting to complete the sNDA submission by the end of the first quarter of 2025. This development has led Scotiabank (TSX:BNS) analyst Greg Harrison to increase the price target on Travere to $32.00, retaining a Sector Outperform rating for the company.
Simultaneously, Canaccord Genuity maintained a Buy rating on Travere and increased the price target to $45, reflecting the firm’s continued expectation for the peak revenue of SAGE, a product in Travere’s pipeline. Analyst Ed Nash noted the challenges in projecting the exact division of spending between Sales, General, and Administrative expenses (SG&A) and Research and Development (R&D) due to ongoing restructuring within the company.
Additionally, Scotiabank has increased the probability of success for Filspari in FSGS to 65%, up from 30%. This adjustment reflects the potential market opportunities for Travere, with the FSGS market projected to reach $521 million by 2030. These recent developments signal a positive outlook for Travere Therapeutics, with the company’s strategic investments and pipeline development being closely watched by investors and industry analysts.
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