Coppell Advisory Solutions LLC purchased a new position in Travere Therapeutics, Inc. (NASDAQ:TVTX – Free Report) during the second quarter, Holdings Channel.com reports. The firm purchased 12,304 shares of the company’s stock, valued at approximately $699,000.
A number of other hedge funds also recently bought and sold shares of the company. Jupiter Topco LLC purchased a new position in shares of Travere Therapeutics in the second quarter worth approximately $643,299,000. Bank of America Corp DE purchased a new stake in shares of Travere Therapeutics in the 2nd quarter valued at approximately $259,527,000. State Street Corp boosted its stake in Travere Therapeutics by 47.8% in the 4th quarter. State Street Corp now owns 4,756,666 shares of the company’s stock worth $181,752,000 after purchasing an additional 1,538,827 shares during the period. Wellington Management Group LLP boosted its stake in Travere Therapeutics by 3,331.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock worth $28,715,000 after purchasing an additional 1,166,460 shares during the period. Finally, Fiera Capital Corp purchased a new position in Travere Therapeutics during the 4th quarter worth approximately $33,398,000.
Analysts Set New Price Targets
Several brokerages have issued reports on TVTX. Wells Fargo & Company boosted their target price on shares of Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Citigroup raised their target price on Travere Therapeutics from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Piper Sandler reiterated an “overweight” rating on shares of Travere Therapeutics in a report on Monday, August 17th. Wedbush upped their price target on Travere Therapeutics from $61.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Finally, Guggenheim increased their price objective on Travere Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.67.
Insider Activity at Travere Therapeutics
In other Travere Therapeutics news, Director Timothy Coughlin sold 10,000 shares of Travere Therapeutics stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $50.07, for a total value of $500,700.00. Following the completion of the sale, the director directly owned 56,250 shares in the company, valued at $2,816,437.50. The trade was a 15.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy D. Baynes sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $50.00, for a total transaction of $225,000.00. Following the completion of the sale, the director directly owned 41,500 shares of the company’s stock, valued at $2,075,000. This represents a 9.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.44% of the company’s stock.
Travere Therapeutics Price Performance
TVTX opened at $67.23 on Thursday. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of -146.15 and a beta of 1.05. Travere Therapeutics, Inc. has a 1 year low of $18.13 and a 1 year high of $67.85. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58. The stock has a fifty day moving average price of $59.95 and a 200 day moving average price of $45.71.
Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.03. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.The company had revenue of $169.58 million for the quarter, compared to analyst estimates of $157.27 million. During the same period in the prior year, the firm posted $0.13 EPS. The business’s revenue was up 48.2% compared to the same quarter last year. Analysts forecast that Travere Therapeutics, Inc. will post -0.56 EPS for the current fiscal year.
Travere Therapeutics Profile
Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.
The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.
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