14,600 Shares in Travere Therapeutics, Inc. $TVTX Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,600 shares of the company’s stock, valued at approximately $558,000.

Several other hedge funds have also added to or reduced their stakes in TVTX. Emerald Advisers LLC grew its position in shares of Travere Therapeutics by 2.6% in the 3rd quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company’s stock worth $51,308,000 after buying an additional 55,407 shares during the period. Palisades Investment Partners LLC bought a new position in Travere Therapeutics during the 4th quarter valued at about $5,264,000. Essex Investment Management Co. LLC bought a new position in Travere Therapeutics in the third quarter valued at about $3,872,000. Lisanti Capital Growth LLC purchased a new stake in shares of Travere Therapeutics in the 3rd quarter worth $3,095,000. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of Travere Therapeutics by 169.6% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 99,229 shares of the company’s stock valued at $3,792,000 after buying an additional 62,419 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TVTX. Citigroup increased their price target on shares of Travere Therapeutics from $53.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Weiss Ratings lowered shares of Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 6th. TD Cowen lifted their price objective on Travere Therapeutics from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Wall Street Zen cut Travere Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, HC Wainwright lifted their price target on Travere Therapeutics from $47.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.83.

Travere Therapeutics Stock Performance

Travere Therapeutics stock opened at $42.89 on Tuesday. The firm has a 50 day simple moving average of $34.85 and a 200-day simple moving average of $33.67. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of -186.47 and a beta of 1.13. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08. Travere Therapeutics, Inc. has a 1-year low of $13.88 and a 1-year high of $48.61.

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

Insider Activity

In other Travere Therapeutics news, CEO Eric M. Dube sold 22,500 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $43.95, for a total transaction of $988,875.00. Following the transaction, the chief executive officer directly owned 432,886 shares of the company’s stock, valued at approximately $19,025,339.70. This trade represents a 4.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jula Inrig sold 2,174 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $46.65, for a total value of $101,417.10. Following the completion of the transaction, the insider owned 113,549 shares in the company, valued at $5,297,060.85. This trade represents a 1.88% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 400,015 shares of company stock worth $15,895,428 over the last 90 days. 4.44% of the stock is owned by corporate insiders.

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.