State of Wyoming acquired a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,423 shares of the company’s stock, valued at approximately $479,000.
A number of other hedge funds also recently added to or reduced their stakes in TVTX. Raymond James Financial Inc. purchased a new stake in shares of Travere Therapeutics during the 2nd quarter worth approximately $33,000. GAMMA Investing LLC increased its stake in Travere Therapeutics by 53.4% in the 2nd quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after purchasing an additional 211 shares in the last quarter. Fifth Third Bancorp acquired a new position in Travere Therapeutics during the first quarter worth $35,000. Torren Management LLC acquired a new position in Travere Therapeutics during the fourth quarter worth $38,000. Finally, Comerica Bank boosted its position in Travere Therapeutics by 77.5% during the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after purchasing an additional 492 shares in the last quarter.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. HC Wainwright upped their target price on Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Canaccord Genuity Group lifted their price target on Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen lowered shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Evercore set a $78.00 price objective on shares of Travere Therapeutics in a research note on Monday, August 10th. Finally, Piper Sandler restated an “overweight” rating on shares of Travere Therapeutics in a report on Monday. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Travere Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $61.67.
Travere Therapeutics Stock Up 2.2%
TVTX opened at $63.53 on Tuesday. Travere Therapeutics, Inc. has a 12 month low of $17.05 and a 12 month high of $66.24. The business has a 50-day moving average of $56.84 and a two-hundred day moving average of $42.75. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.99. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of -138.11 and a beta of 1.12.
Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last announced its quarterly earnings data 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 net margin of 7.35% and a negative return on equity of 55.15%. The business 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 company’s revenue was up 48.2% on a year-over-year basis. On average, research analysts expect that Travere Therapeutics, Inc. will post -0.56 earnings per share for the current year.
Insider Activity at Travere Therapeutics
In other Travere Therapeutics news, Director Timothy Coughlin sold 10,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $50.07, for a total transaction of $500,700.00. Following the transaction, the director owned 56,250 shares of the company’s stock, valued at $2,816,437.50. This trade represents a 15.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 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 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. Corporate insiders own 4.44% of the company’s stock.
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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