PSP Research LLC Takes $584,000 Position in Travere Therapeutics, Inc. $TVTX

PSP Research LLC purchased a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 15,272 shares of the company’s stock, valued at approximately $584,000. Travere Therapeutics comprises approximately 0.5% of PSP Research LLC’s investment portfolio, making the stock its 3rd largest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in shares of Travere Therapeutics by 3,331.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock valued at $28,715,000 after acquiring an additional 1,166,460 shares in the last quarter. Perceptive Advisors LLC acquired a new stake in shares of Travere Therapeutics during the 2nd quarter valued at $12,347,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Travere Therapeutics during the 2nd quarter valued at $10,348,000. Vanguard Group Inc. boosted its holdings in shares of Travere Therapeutics by 10.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,613,368 shares of the company’s stock valued at $158,059,000 after acquiring an additional 619,085 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in shares of Travere Therapeutics by 27.4% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company’s stock valued at $41,203,000 after acquiring an additional 599,102 shares in the last quarter.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, insider William E. Rote sold 2,763 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $43.95, for a total value of $121,433.85. Following the sale, the insider owned 115,474 shares in the company, valued at approximately $5,075,082.30. The trade was a 2.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric M. Dube sold 22,500 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $43.95, for a total value of $988,875.00. Following the completion of the sale, the chief executive officer owned 432,886 shares in the company, valued at $19,025,339.70. This trade represents a 4.94% decrease in their position. 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. In the last three months, insiders have sold 400,015 shares of company stock worth $15,895,428. 4.44% of the stock is currently owned by insiders.

Travere Therapeutics Trading Down 1.5%

NASDAQ TVTX opened at $42.26 on Wednesday. The business’s 50-day moving average price is $35.15 and its two-hundred day moving average price is $33.76. Travere Therapeutics, Inc. has a 12 month low of $13.88 and a 12 month high of $48.61. The firm has a market capitalization of $3.93 billion, a PE ratio of -183.73 and a beta of 1.13. The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Monday, May 4th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.29. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The firm had revenue of $127.20 million for the quarter, compared to analyst estimates of $136.23 million. During the same quarter in the previous year, the company posted ($0.47) EPS. The business’s revenue was up 55.6% on a year-over-year basis. On average, analysts expect that Travere Therapeutics, Inc. will post -0.26 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on TVTX. Wedbush raised their price objective on Travere Therapeutics from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Wall Street Zen lowered shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Piper Sandler raised shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 target price on the stock in a report on Tuesday, April 14th. JPMorgan Chase & Co. reduced their target price on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. Finally, Weiss Ratings lowered shares of Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 6th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.83.

About Travere Therapeutics

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.