Travere Therapeutics, Inc. (NASDAQ:TVTX) Shares Purchased by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC raised its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,117,792 shares of the company’s stock after buying an additional 31,725 shares during the quarter. Travere Therapeutics comprises about 2.6% of Parkman Healthcare Partners LLC’s investment portfolio, making the stock its 12th biggest position. Parkman Healthcare Partners LLC owned about 1.43% of Travere Therapeutics worth $19,472,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Sterling Capital Management LLC boosted its position in Travere Therapeutics by 859.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock worth $41,000 after acquiring an additional 2,115 shares during the last quarter. R Squared Ltd purchased a new position in shares of Travere Therapeutics during the 4th quarter worth $53,000. Gen Wealth Partners Inc acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth $73,000. Summit Investment Advisors Inc. boosted its holdings in shares of Travere Therapeutics by 9.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company’s stock worth $138,000 after purchasing an additional 667 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in shares of Travere Therapeutics in the fourth quarter valued at $182,000.

Travere Therapeutics Stock Down 2.8%

Shares of Travere Therapeutics stock opened at $20.94 on Wednesday. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -5.11 and a beta of 0.88. Travere Therapeutics, Inc. has a twelve month low of $6.01 and a twelve month high of $25.29. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The business’s 50 day simple moving average is $18.15 and its 200-day simple moving average is $18.87.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.08. The firm had revenue of $81.73 million during the quarter, compared to the consensus estimate of $77.44 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The firm’s revenue was up 83.3% on a year-over-year basis. During the same period in the prior year, the business earned ($1.76) EPS. Equities research analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TVTX shares. Stifel Nicolaus upped their price target on shares of Travere Therapeutics from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, May 2nd. Guggenheim reaffirmed a “buy” rating and issued a $47.00 target price on shares of Travere Therapeutics in a research report on Monday, April 14th. Canaccord Genuity Group boosted their price target on Travere Therapeutics from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, April 10th. Evercore ISI upped their price target on Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Travere Therapeutics in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.79.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, insider Peter Heerma sold 1,771 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $37,279.55. Following the sale, the insider now owns 128,215 shares in the company, valued at approximately $2,698,925.75. This trade represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric M. Dube sold 18,924 shares of Travere Therapeutics stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $398,350.20. Following the sale, the chief executive officer now directly owns 419,173 shares in the company, valued at approximately $8,823,591.65. This trade represents a 4.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,527 shares of company stock worth $473,814 in the last ninety days. 4.19% of the stock is owned by insiders.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.