JW Asset Management LLC bought a new position in Travere Therapeutics, Inc. (NASDAQ:TVTX – Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 30,000 shares of the company’s stock, valued at approximately $1,704,000. Travere Therapeutics accounts for approximately 0.5% of JW Asset Management LLC’s investment portfolio, making the stock its 13th biggest holding.
Several other hedge funds have also added to or reduced their stakes in the business. Nykredit A S bought a new position in shares of Travere Therapeutics during the second quarter valued at about $237,000. Allianz Asset Management GmbH bought a new stake in shares of Travere Therapeutics in the 2nd quarter valued at about $2,441,000. Corient Private Wealth LP lifted its stake in shares of Travere Therapeutics by 1.4% in the 2nd quarter. Corient Private Wealth LP now owns 48,125 shares of the company’s stock valued at $2,734,000 after acquiring an additional 648 shares during the last quarter. Amundi purchased a new stake in Travere Therapeutics during the 2nd quarter valued at about $340,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Travere Therapeutics during the 2nd quarter valued at about $1,534,000.
Analyst Ratings Changes
A number of brokerages have commented on TVTX. TD Cowen lifted their price target on Travere Therapeutics from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Evercore set a $78.00 price objective on Travere Therapeutics in a research note on Monday, August 10th. Guggenheim raised their target price on shares of Travere Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Wedbush raised their target price on shares of Travere Therapeutics from $61.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Finally, HC Wainwright lifted their target price on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.67.
Travere Therapeutics Trading Up 1.2%
Shares of Travere Therapeutics stock traded up $0.79 during trading on Tuesday, reaching $66.07. 1,360,821 shares of the stock were exchanged, compared to its average volume of 2,028,757. The company has a quick ratio of 3.99, a current ratio of 4.05 and a debt-to-equity ratio of 24.58. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of -143.63 and a beta of 1.05. Travere Therapeutics, Inc. has a 1 year low of $20.84 and a 1 year high of $68.03. The stock’s fifty day moving average is $60.36 and its 200 day moving average is $46.50.
Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The company had revenue of $169.58 million for the quarter, compared to the consensus estimate of $157.27 million. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.Travere Therapeutics’s revenue was up 48.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 EPS. As a group, equities research analysts expect that Travere Therapeutics, Inc. will post -0.56 earnings per share for the current fiscal year.
Insider Activity at Travere Therapeutics
In related news, Director Timothy Coughlin sold 10,000 shares of Travere Therapeutics stock in a transaction 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 sale, the director 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 SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy D. Baynes sold 4,500 shares of Travere Therapeutics stock in a transaction on Friday, June 12th. The shares were sold at an average price of $50.00, for a total transaction of $225,000.00. Following the completion of the sale, the director owned 41,500 shares in the company, valued at approximately $2,075,000. This trade represents a 9.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.44% of the stock is currently owned by insiders.
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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