PSP Research LLC Buys New Position in Travere Therapeutics, Inc. $TVTX

PSP Research LLC bought a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 15,272 shares of the company’s stock, valued at approximately $584,000. Travere Therapeutics accounts for approximately 0.5% of PSP Research LLC’s investment portfolio, making the stock its 3rd biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in TVTX. Raymond James Financial Inc. bought a new stake in shares of Travere Therapeutics during the 2nd quarter valued at about $33,000. Torren Management LLC bought a new stake in shares of Travere Therapeutics during the 4th quarter valued at about $38,000. Comerica Bank boosted its position in shares of Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after purchasing an additional 492 shares in the last quarter. Garner Asset Management Corp bought a new stake in shares of Travere Therapeutics during the 4th quarter valued at about $69,000. Finally, Headlands Technologies LLC bought a new stake in shares of Travere Therapeutics during the 2nd quarter valued at about $73,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TVTX shares. Citigroup upped their target price on Travere Therapeutics from $53.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. dropped their price target on Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. Wedbush upped their price target on Travere Therapeutics from $53.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. TD Cowen upped their price target on Travere Therapeutics from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Wells Fargo & Company upped their price target on Travere Therapeutics from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics has an average rating of “Moderate Buy” and an average price target of $47.83.

Insider Transactions at Travere Therapeutics

In other news, Director Roy D. Baynes sold 4,500 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $46.65, for a total value of $209,925.00. Following the completion of the sale, the director directly owned 37,500 shares of the company’s stock, valued at $1,749,375. This represents a 10.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William E. Rote sold 2,763 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $43.95, for a total value of $121,433.85. Following the completion of the sale, the insider directly owned 115,474 shares of the company’s stock, valued at approximately $5,075,082.30. This trade represents a 2.34% decrease in their ownership of the stock. 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 400,015 shares of company stock valued at $15,895,428. Corporate insiders own 4.44% of the company’s stock.

Travere Therapeutics Stock Down 1.5%

TVTX stock opened at $42.26 on Wednesday. The stock’s 50 day simple moving average is $35.15 and its 200 day simple moving average is $33.76. Travere Therapeutics, Inc. has a fifty-two week low of $13.88 and a fifty-two week high of $48.61. The company has a debt-to-equity ratio of 3.16, a quick ratio of 3.08 and a current ratio of 3.13. The company has a market cap of $3.93 billion, a P/E ratio of -183.73 and a beta of 1.13.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.24) by $0.29. The firm had revenue of $127.20 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.47) earnings per share. On average, research analysts expect that Travere Therapeutics, Inc. will post -0.26 earnings per share for the current fiscal year.

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.