Fmr LLC Increases Stake in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Fmr LLC grew its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 27.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 147,416 shares of the company’s stock after acquiring an additional 31,772 shares during the quarter. Fmr LLC’s holdings in Travere Therapeutics were worth $2,062,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC raised its stake in shares of Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after acquiring an additional 3,065 shares during the period. Diversified Trust Co purchased a new stake in shares of Travere Therapeutics in the third quarter valued at $161,000. DRW Securities LLC purchased a new stake in shares of Travere Therapeutics in the second quarter valued at $95,000. Aigen Investment Management LP purchased a new stake in shares of Travere Therapeutics in the third quarter valued at $170,000. Finally, Forefront Analytics LLC raised its stake in shares of Travere Therapeutics by 10.2% in the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after acquiring an additional 1,237 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TVTX. Scotiabank upped their price target on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. Canaccord Genuity Group cut their price target on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Leerink Partners restated an “outperform” rating and issued a $20.00 price target on shares of Travere Therapeutics in a report on Tuesday, October 8th. Piper Sandler upped their price target on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Finally, Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $9.00 to $27.00 in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.62.

Travere Therapeutics Stock Down 3.3 %

Shares of Travere Therapeutics stock opened at $17.32 on Friday. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $20.33. The firm’s 50-day moving average is $18.08 and its two-hundred day moving average is $12.70. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -3.81 and a beta of 0.69.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The company had revenue of $62.90 million for the quarter, compared to analysts’ expectations of $60.87 million. During the same period in the prior year, the business earned ($1.17) EPS. The firm’s quarterly revenue was up 69.6% on a year-over-year basis. As a group, research analysts expect that Travere Therapeutics, Inc. will post -3.94 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Sandra Calvin sold 12,090 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $18.30, for a total value of $221,247.00. Following the sale, the chief accounting officer now directly owns 54,927 shares in the company, valued at approximately $1,005,164.10. This trade represents a 18.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary A. Lyons sold 40,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $14.73, for a total transaction of $589,200.00. Following the completion of the sale, the director now owns 51,000 shares in the company, valued at $751,230. This represents a 43.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,090 shares of company stock worth $1,372,847. Corporate insiders own 3.75% of the company’s stock.

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.