Travere Therapeutics, Inc. $TVTX Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC raised its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 46.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,400 shares of the company’s stock after acquiring an additional 12,858 shares during the period. Intech Investment Management LLC’s holdings in Travere Therapeutics were worth $1,544,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Palisades Investment Partners LLC purchased a new stake in shares of Travere Therapeutics in the fourth quarter valued at about $5,264,000. Essex Investment Management Co. LLC purchased a new stake in shares of Travere Therapeutics in the third quarter valued at about $3,872,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Travere Therapeutics by 169.6% in the fourth 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 during the last quarter. Apis Capital Advisors LLC purchased a new stake in shares of Travere Therapeutics in the third quarter valued at about $3,967,000. Finally, Legato Capital Management LLC purchased a new stake in shares of Travere Therapeutics in the third quarter valued at about $1,698,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TVTX shares. TD Cowen upped their target price 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. Piper Sandler upgraded shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price target on the stock in a research note on Tuesday, April 14th. Wall Street Zen lowered shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Wedbush reiterated an “outperform” rating and set a $55.00 price target on shares of Travere Therapeutics in a research note on Wednesday. Finally, HC Wainwright boosted their price target on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.92.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CAO Sandra Calvin sold 21,977 shares of the company’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $41.07, for a total transaction of $902,595.39. Following the transaction, the chief accounting officer directly owned 42,353 shares in the company, valued at approximately $1,739,437.71. This represents a 34.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jula Inrig sold 20,000 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $45.00, for a total transaction of $900,000.00. Following the transaction, the insider owned 111,473 shares in the company, valued at $5,016,285. The trade was a 15.21% decrease in their ownership of the stock. 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 sold a total of 400,015 shares of company stock valued at $15,895,428 in the last ninety days. Company insiders own 4.44% of the company’s stock.

Travere Therapeutics Trading Down 0.8%

Shares of TVTX opened at $45.81 on Friday. The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16. The firm’s 50-day moving average is $39.71 and its two-hundred day moving average is $34.79. Travere Therapeutics, Inc. has a twelve month low of $13.88 and a twelve month high of $48.61. The firm has a market capitalization of $4.26 billion, a P/E ratio of -199.17 and a beta of 1.13.

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