State of New Jersey Common Pension Fund D Takes $1.10 Million Position in Travere Therapeutics, Inc. $TVTX

State of New Jersey Common Pension Fund D bought a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the 4th quarter, Holdings Channel reports. The fund bought 28,904 shares of the company’s stock, valued at approximately $1,104,000.

Other large investors have also modified their holdings of the company. Torren Management LLC purchased a new position in Travere Therapeutics in the 4th quarter valued at $38,000. Comerica Bank raised its position in Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after buying an additional 492 shares during the last quarter. First Horizon Corp purchased a new position in Travere Therapeutics during the 3rd quarter worth $36,000. Raymond James Financial Inc. acquired a new stake in shares of Travere Therapeutics in the 2nd quarter worth $33,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Travere Therapeutics by 26.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,348 shares of the company’s stock worth $166,000 after acquiring an additional 902 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TVTX. Canaccord Genuity Group boosted their price target on shares of Travere Therapeutics from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Piper Sandler raised Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price objective on the stock in a report on Tuesday, April 14th. Weiss Ratings cut Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 6th. TD Cowen increased their target price on Travere Therapeutics from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Guggenheim raised their price target on Travere Therapeutics from $54.00 to $56.00 and gave the company a “buy” rating in a report on Friday, April 24th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Travere Therapeutics has an average rating of “Moderate Buy” and an average target price of $47.83.

Insiders Place Their Bets

In other Travere Therapeutics news, insider Elizabeth E. Reed sold 2,076 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $43.95, for a total transaction of $91,240.20. Following the sale, the insider directly owned 105,211 shares in the company, valued at approximately $4,624,023.45. The trade was a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Roy D. Baynes sold 4,500 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $46.65, for a total value of $209,925.00. Following the completion of the sale, the director directly owned 37,500 shares in the company, valued at $1,749,375. This trade represents a 10.71% 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. Over the last quarter, insiders have sold 400,015 shares of company stock worth $15,895,428. 4.44% of the stock is owned by insiders.

Travere Therapeutics Stock Up 2.1%

Shares of NASDAQ TVTX opened at $43.51 on Tuesday. The company has a quick ratio of 3.08, a current ratio of 3.13 and a debt-to-equity ratio of 3.16. Travere Therapeutics, Inc. has a 52 week low of $13.88 and a 52 week high of $48.61. The firm has a 50-day moving average price of $33.37 and a 200 day moving average price of $33.16. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of -189.17 and a beta of 1.13.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $136.23 million. During the same period in the prior year, the business posted ($0.47) earnings per share. The firm’s revenue for the quarter was up 55.6% compared to the same quarter last year. Equities research analysts anticipate that Travere Therapeutics, Inc. will post -0.26 EPS for the current fiscal year.

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.