Bullish indicating open at $55-$60, IPO prices at $37
Elizabeth E. Reed, Senior Vice President, General Counsel, and Corporate Secretary of Travere Therapeutics, Inc. (NASDAQ:TVTX), reported selling 8,000 shares of the company’s common stock. The sale, executed on February 12, 2025, was conducted at a price of $23.53 per share, amounting to a total transaction value of $188,240. The transaction comes as Travere, now valued at $2.01 billion, has shown remarkable momentum with a 162% surge over the past six months, according to InvestingPro data.
Prior to this sale, on February 10, 2025, Reed acquired 8,000 shares through the vesting of performance-based restricted stock units (PSUs), which were granted back in January 2022. These units vested after the company confirmed that clinical and regulatory performance criteria were met, including progress towards submitting a supplemental new drug application (sNDA) for FILSPARI (sparsentan) in treating FSGS. While the company operates with moderate debt levels, three analysts have recently revised their earnings estimates upward for the upcoming period, as revealed in InvestingPro’s comprehensive analysis.
The recent sale was part of a pre-established trading plan under Rule 10b5-1, which also included selling shares to cover tax obligations arising from the vesting of the PSUs. Following these transactions, Reed’s (OTC:REED) direct ownership of Travere Therapeutics stock stands at 89,482 shares. With analyst price targets ranging from $18 to $45 and the company’s next earnings report due on March 3, investors seeking deeper insights can access the full financial health analysis and additional ProTips through InvestingPro’s detailed research report.
In other recent news, Travere Therapeutics has experienced several notable developments. Scotiabank (TSX:BNS) analyst Greg Harrison has increased the price target on Travere to $32, following Travere’s plans to file a supplemental new drug application (sNDA) for Filspari in the treatment of focal segmental glomerulosclerosis (FSGS). The company aims to complete the sNDA submission by the first quarter of 2025, which could potentially lead to Filspari entering the FSGS market by late 2025.
In addition, Canaccord Genuity maintained a Buy rating on Travere and significantly increased the price target to $45. This adjustment reflects the firm’s continued expectation for the peak revenue of SAGE, a product in Travere’s pipeline. Despite challenges in projecting the exact division of spending between Sales, General, and Administrative expenses (SG&A) and Research and Development (R&D), the new operating expense estimates align with Travere’s anticipated cash flow.
Furthermore, Travere announced its intentions to submit an sNDA for FILSPARI, a treatment for FSGS, following a successful meeting with the FDA. The company’s optimism is bolstered 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, providing investors with a clear view of the company’s recent activities and future plans.
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