Lisanti Capital Growth LLC Invests $3.10 Million in Travere Therapeutics, Inc. $TVTX

Lisanti Capital Growth LLC purchased a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 129,512 shares of the company’s stock, valued at approximately $3,095,000. Lisanti Capital Growth LLC owned 0.15% of Travere Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Travere Therapeutics in the second quarter valued at approximately $33,000. First Horizon Corp bought a new position in shares of Travere Therapeutics in the 3rd quarter valued at $36,000. Headlands Technologies LLC acquired a new position in shares of Travere Therapeutics during the 2nd quarter worth $73,000. Atria Investments Inc bought a new stake in shares of Travere Therapeutics during the 2nd quarter worth $154,000. Finally, Gallagher Fiduciary Advisors LLC acquired a new stake in Travere Therapeutics in the second quarter valued at about $155,000.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Citigroup boosted their target price on Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. HC Wainwright reiterated a “buy” rating and set a $47.00 price objective on shares of Travere Therapeutics in a research report on Friday, November 28th. Piper Sandler raised their target price on shares of Travere Therapeutics from $26.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Wall Street Zen raised shares of Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Twelve equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.86.

Travere Therapeutics Stock Down 2.8%

Shares of NASDAQ TVTX opened at $31.09 on Friday. Travere Therapeutics, Inc. has a 52-week low of $12.91 and a 52-week high of $42.13. The company has a debt-to-equity ratio of 4.23, a quick ratio of 2.71 and a current ratio of 2.75. The company’s 50 day moving average price is $34.23 and its 200-day moving average price is $27.37. The company has a market capitalization of $2.78 billion, a P/E ratio of -29.33, a price-to-earnings-growth ratio of 1.05 and a beta of 0.85.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, October 30th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.59. The business had revenue of $164.86 million during the quarter, compared to the consensus estimate of $106.09 million. Travere Therapeutics had a negative net margin of 20.32% and a negative return on equity of 178.68%. Travere Therapeutics’s quarterly revenue was up 162.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.70) earnings per share. Equities analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 51,865 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $30.10, for a total value of $1,561,136.50. Following the transaction, the chief executive officer owned 419,173 shares in the company, valued at approximately $12,617,107.30. This represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jula Inrig sold 2,031 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $40.18, for a total value of $81,605.58. Following the sale, the insider owned 86,756 shares of the company’s stock, valued at approximately $3,485,856.08. This represents a 2.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 246,973 shares of company stock valued at $8,824,692 over the last ninety days. Insiders own 4.19% of the company’s stock.

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.