Stephens Investment Management Group LLC Makes New Investment in Travere Therapeutics, Inc. $TVTX

Stephens Investment Management Group LLC purchased a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,599,668 shares of the company’s stock, valued at approximately $38,232,000.

Other institutional investors have also recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. lifted its holdings in 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 worth $41,203,000 after buying an additional 599,102 shares in the last quarter. Emerald Advisers LLC increased its position in shares of Travere Therapeutics by 0.7% during the second quarter. Emerald Advisers LLC now owns 2,091,360 shares of the company’s stock worth $30,952,000 after acquiring an additional 14,187 shares during the period. Geode Capital Management LLC raised its stake in shares of Travere Therapeutics by 1.4% in the second quarter. Geode Capital Management LLC now owns 2,003,701 shares of the company’s stock valued at $29,658,000 after acquiring an additional 27,040 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its holdings in Travere Therapeutics by 1.7% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 1,141,428 shares of the company’s stock valued at $16,893,000 after purchasing an additional 19,542 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in Travere Therapeutics by 166.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,103,075 shares of the company’s stock worth $16,326,000 after purchasing an additional 689,561 shares in the last quarter.

Travere Therapeutics Trading Down 1.9%

NASDAQ:TVTX opened at $27.87 on Friday. The company has a market capitalization of $2.49 billion, a PE ratio of -26.29, a P/E/G ratio of 1.03 and a beta of 0.85. Travere Therapeutics, Inc. has a 52-week low of $12.91 and a 52-week high of $42.13. The stock’s 50 day moving average price is $35.33 and its 200 day moving average price is $26.39. The company has a quick ratio of 2.71, a current ratio of 2.75 and a debt-to-equity ratio of 4.23.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.59. The business had revenue of $164.86 million during the quarter, compared to the consensus estimate of $106.09 million. Travere Therapeutics had a negative return on equity of 178.68% and a negative net margin of 20.32%.The company’s revenue was up 162.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.70) earnings per share. On average, research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Insider Activity

In other news, CFO Christopher R. Cline sold 20,000 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $35.01, for a total value of $700,200.00. Following the completion of the sale, the chief financial officer directly owned 92,083 shares of the company’s stock, valued at approximately $3,223,825.83. This represents a 17.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sandra Calvin sold 7,402 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $40.00, for a total value of $296,080.00. Following the transaction, the chief accounting officer directly owned 38,233 shares in the company, valued at approximately $1,529,320. This represents a 16.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 323,226 shares of company stock worth $11,290,656 over the last 90 days. 4.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TVTX shares. Zacks Research lowered shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Guggenheim reissued a “buy” rating and issued a $49.00 price objective on shares of Travere Therapeutics in a research report on Wednesday. TD Cowen lifted their price target on Travere Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Wall Street Zen raised shares of Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 13th. Finally, HC Wainwright restated a “buy” rating and set a $47.00 price objective on shares of Travere Therapeutics in a research report on Friday, November 28th. Thirteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Travere Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $38.86.

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.