Stephens Investment Management Group LLC Buys 76,843 Shares of Travere Therapeutics, Inc. $TVTX

Stephens Investment Management Group LLC raised its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,798,466 shares of the company’s stock after buying an additional 76,843 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Travere Therapeutics were worth $53,432,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Travere Therapeutics in the second quarter worth $33,000. State of Wyoming purchased a new position in shares of Travere Therapeutics in the 4th quarter worth about $37,000. Torren Management LLC purchased a new position in shares of Travere Therapeutics in the 4th quarter worth about $38,000. Comerica Bank boosted its stake in Travere Therapeutics by 77.5% in the 4th 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. Finally, Smartleaf Asset Management LLC boosted its stake in Travere Therapeutics by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock worth $45,000 after purchasing an additional 487 shares in the last quarter.

Travere Therapeutics Price Performance

NASDAQ TVTX opened at $56.90 on Friday. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of -247.38 and a beta of 1.10. Travere Therapeutics, Inc. has a 1-year low of $14.44 and a 1-year high of $60.10. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08. The business’s fifty day moving average price is $47.98 and its 200-day moving average price is $37.47.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data 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 company had revenue of $127.20 million during the quarter, compared to analysts’ expectations of $136.23 million. During the same quarter in the prior year, the business earned ($0.47) earnings per share. Travere Therapeutics’s revenue for the quarter was up 55.6% compared to the same quarter last year. On average, equities analysts predict that Travere Therapeutics, Inc. will post -0.25 earnings per share for the current year.

Insider Buying and Selling at Travere Therapeutics

In other news, insider William E. Rote sold 2,763 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $43.95, for a total value of $121,433.85. Following the transaction, the insider owned 115,474 shares in the company, valued at $5,075,082.30. This represents a 2.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $43.95, for a total transaction of $988,875.00. Following the completion of the transaction, the chief executive officer directly owned 432,886 shares in the company, valued at approximately $19,025,339.70. The trade was a 4.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 334,515 shares of company stock worth $14,184,428. 4.44% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on TVTX. JPMorgan Chase & Co. cut their price objective on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. HC Wainwright lifted their target price on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Weiss Ratings downgraded shares of Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 23rd. TD Cowen increased their price target on shares of Travere Therapeutics from $45.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, Wells Fargo & Company raised their price target on shares of Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.08.

Travere Therapeutics Company 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.