Bullish indicating open at $55-$60, IPO prices at $37
William E. Rote, the Senior Vice President of R&D at Travere Therapeutics, Inc. (NASDAQ:TVTX), recently executed a sale of company stock. According to the latest SEC filing, Rote sold 5,200 shares of Travere Therapeutics at a price of $23.53 per share, totaling $122,356, on February 12, 2025. The transaction was part of a pre-established trading plan adopted on March 15, 2024, under Rule 10b5-1(c) of the Securities Exchange Act of 1934. This sale was intended to cover tax obligations arising from the vesting of performance-based restricted stock units. Following this transaction, Rote holds 98,519 shares of the company’s common stock. While the company currently operates with moderate debt levels, three analysts have recently revised their earnings estimates upward, according to InvestingPro, which offers 8 additional key insights about TVTX’s financial health and growth prospects in its comprehensive Pro Research Report.
In other recent news, Travere Therapeutics has been the focus of several analysts’ updates. Scotiabank (TSX:BNS) analyst Greg Harrison raised the price target for Travere to $32, up from $27, after the company announced plans to file a supplemental new drug application (sNDA) for Filspari, a treatment for focal segmental glomerulosclerosis (FSGS). This followed a positive Type C meeting with the FDA, with the company aiming to complete the submission by the first quarter of 2025.
On a similar note, Canaccord Genuity maintained a Buy rating on Travere and increased the price target to $45 from $22, reflecting the firm’s expectations for the peak revenue of SAGE, a product in Travere’s pipeline. The analyst, Ed Nash, noted the challenges in projecting the exact division of spending due to ongoing restructuring within the company, but the new operating expense estimates align with Travere’s anticipated cash flow.
In other developments, Travere announced a successful Type C meeting with the FDA and revealed plans to submit a sNDA for FILSPARI, targeting FSGS. The optimism from Travere is supported by the recent PARASOL workgroup findings, which highlighted the significance of proteinuria reduction in FSGS as a strong indicator of decreased risk of kidney failure.
These are the latest developments for Travere Therapeutics, a biopharmaceutical company that has been receiving positive feedback from analysts and making significant strides in its drug development processes. The company’s progress and future plans are closely watched by investors and industry analysts alike.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.