Frazier Life Sciences Management L.P. reduced its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX – Free Report) by 38.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 241,592 shares of the company’s stock after selling 150,500 shares during the period. Frazier Life Sciences Management L.P. owned approximately 0.27% of Travere Therapeutics worth $9,231,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of TVTX. Raymond James Financial Inc. purchased a new position in shares of Travere Therapeutics in the second quarter worth about $33,000. State of Wyoming purchased a new position in shares of Travere Therapeutics in the fourth quarter worth about $37,000. Torren Management LLC purchased a new position in shares of Travere Therapeutics in the fourth quarter worth about $38,000. Comerica Bank lifted its stake in shares of Travere Therapeutics by 77.5% in the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after buying an additional 492 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Travere Therapeutics by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock worth $45,000 after buying an additional 487 shares in the last quarter.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. decreased their price target on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. TD Cowen raised their price target on shares of Travere Therapeutics from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. HC Wainwright raised their price target 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. Finally, Guggenheim raised their price target on shares of Travere Therapeutics from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.17.
Insiders Place Their Bets
In other news, insider William E. Rote sold 2,763 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $43.95, for a total value of $121,433.85. Following the sale, the insider directly owned 115,474 shares of the company’s stock, valued at approximately $5,075,082.30. The trade was a 2.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric M. Dube sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $43.95, for a total transaction of $988,875.00. Following the completion of the sale, the chief executive officer directly owned 432,886 shares in the company, valued at $19,025,339.70. This trade represents a 4.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 400,015 shares of company stock worth $15,895,428. Insiders own 4.44% of the company’s stock.
Travere Therapeutics Price Performance
Shares of TVTX stock opened at $52.04 on Friday. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08. The firm’s 50-day moving average is $41.70 and its two-hundred day moving average is $35.26. Travere Therapeutics, Inc. has a 12 month low of $13.88 and a 12 month high of $52.72. The company has a market capitalization of $4.84 billion, a PE ratio of -226.25 and a beta of 1.13.
Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last issued its earnings results on Monday, May 4th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.29. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The company had revenue of $127.20 million for the quarter, compared to the consensus estimate of $136.23 million. During the same period in the previous year, the firm earned ($0.47) earnings per share. Travere Therapeutics’s quarterly revenue was up 55.6% compared to the same quarter last year. Analysts predict that Travere Therapeutics, Inc. will post -0.29 earnings per share for the current year.
Travere Therapeutics Company 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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