Bullish indicating open at $55-$60, IPO prices at $37
On February 11, 2025, Calvin Sandra, the Senior Vice President and Chief Accounting Officer at Travere Therapeutics, Inc. (NASDAQ:TVTX), executed a series of transactions involving the company’s common stock. The transactions were detailed in a recent SEC filing. According to InvestingPro data, TVTX shares have shown remarkable strength, delivering a 190% return over the past year.
Sandra sold a total of 59,244 shares at a consistent price of $25 per share, resulting in proceeds of approximately $1.35 million. These sales were part of a pre-arranged trading plan adopted in September 2024, aligning with the requirements of Rule 10b5-1(c) under the Securities Exchange Act of 1934. The sale price was near the stock’s 52-week high of $25.29.
In addition to the sales, Sandra exercised options to acquire 45,000 shares at prices ranging from $15.46 to $17.96 per share, totaling $748,200. Following these transactions, Sandra’s direct ownership stands at 54,410 shares.
Travere Therapeutics, headquartered in San Diego, operates in the pharmaceutical preparations sector, focusing on developing therapies for rare diseases.
In other recent news, Travere Therapeutics received an upbeat assessment from Scotiabank (TSX:BNS) and Canaccord Genuity. Scotiabank analyst Greg Harrison raised the price target on Travere to $32, up from the previous $27, following Travere’s plans to file a supplemental new drug application (sNDA) for Filspari in the treatment of focal segmental glomerulosclerosis (FSGS). Travere aims to complete the sNDA submission by the end of the first quarter of 2025. No additional follow-up studies or analysis will be required, according to the company’s management.
On the other hand, Canaccord Genuity maintained a Buy rating on Travere and significantly increased the price target to $45 from the previous $22, reflecting the firm’s continued expectation for the peak revenue of SAGE, a product in Travere’s pipeline, which is projected to reach $479 million by the year 2035. Ed Nash, an analyst at Canaccord Genuity, 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.
These are recent developments for Travere Therapeutics, a biopharmaceutical company focused on the development of therapies for rare diseases. The raised price targets reflect updated assessments and the potential market opportunities for Travere. The company’s strategic investments and pipeline development are closely watched by investors and industry analysts alike.
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