Rice Hall James & Associates LLC Takes $5.54 Million Position in Travere Therapeutics, Inc. $TVTX

Rice Hall James & Associates LLC bought a new position in Travere Therapeutics, Inc. (NASDAQ:TVTX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 97,573 shares of the company’s stock, valued at approximately $5,543,000.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Travere Therapeutics by 47.8% during the 4th quarter. State Street Corp now owns 4,756,666 shares of the company’s stock worth $181,752,000 after purchasing an additional 1,538,827 shares during the period. Wellington Management Group LLP lifted its stake in Travere Therapeutics by 3,331.9% in the third quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock worth $28,715,000 after purchasing an additional 1,166,460 shares during the last quarter. Fiera Capital Corp bought a new stake in Travere Therapeutics in the fourth quarter worth about $33,398,000. Perceptive Advisors LLC purchased a new position in shares of Travere Therapeutics during the second quarter valued at approximately $12,347,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Travere Therapeutics during the second quarter valued at approximately $10,348,000.

Insiders Place Their Bets

In other news, Director Roy D. Baynes sold 4,500 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $50.00, for a total transaction of $225,000.00. Following the transaction, the director owned 41,500 shares of the company’s stock, valued at approximately $2,075,000. This represents a 9.78% decrease in their position. The transaction was disclosed in a filing 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. Also, Director Timothy Coughlin sold 10,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $50.07, for a total value of $500,700.00. Following the transaction, the director owned 56,250 shares in the company, valued at approximately $2,816,437.50. This represents a 15.09% 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. Insiders own 4.44% of the company’s stock.

Analysts Set New Price Targets

TVTX has been the topic of several recent analyst reports. Piper Sandler reiterated an “overweight” rating on shares of Travere Therapeutics in a report on Monday. Weiss Ratings cut Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Wells Fargo & Company upped their price objective on Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. HC Wainwright increased their target price on Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Finally, Wedbush lifted their target price on Travere Therapeutics from $61.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.67.

Travere Therapeutics Stock Performance

Travere Therapeutics stock opened at $63.53 on Tuesday. The company has a 50 day moving average price of $56.84 and a 200-day moving average price of $42.75. The company has a debt-to-equity ratio of 24.58, a quick ratio of 3.99 and a current ratio of 4.05. Travere Therapeutics, Inc. has a fifty-two week low of $17.05 and a fifty-two week high of $66.24. The company has a market capitalization of $5.99 billion, a PE ratio of -138.11 and a beta of 1.12.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.The firm had revenue of $169.58 million during the quarter, compared to analyst estimates of $157.27 million. During the same quarter in the previous year, the business earned $0.13 earnings per share. Travere Therapeutics’s quarterly revenue was up 48.2% on a year-over-year basis. As a group, equities analysts forecast that Travere Therapeutics, Inc. will post -0.56 earnings per share for the current 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.