Pennant Investors LP Buys New Stake in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Pennant Investors LP purchased a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 55,800 shares of the company’s stock, valued at approximately $502,000. Travere Therapeutics accounts for about 0.1% of Pennant Investors LP’s portfolio, making the stock its 18th largest position. Pennant Investors LP owned about 0.07% of Travere Therapeutics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TVTX. Vanguard Group Inc. raised its position in shares of Travere Therapeutics by 10.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,667,458 shares of the company’s stock worth $41,727,000 after purchasing an additional 460,176 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of Travere Therapeutics by 71.4% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 524,000 shares of the company’s stock worth $4,685,000 after buying an additional 218,371 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Travere Therapeutics by 9.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,671,770 shares of the company’s stock worth $14,946,000 after buying an additional 146,970 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Travere Therapeutics during the 4th quarter worth $137,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Travere Therapeutics by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 565,919 shares of the company’s stock worth $5,059,000 after buying an additional 25,566 shares during the last quarter.

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX traded down $0.12 during mid-day trading on Tuesday, hitting $7.15. The company had a trading volume of 198,981 shares, compared to its average volume of 1,217,841. The firm has a fifty day moving average price of $6.50 and a 200 day moving average price of $7.68. The company has a debt-to-equity ratio of 5.10, a quick ratio of 2.75 and a current ratio of 2.78. Travere Therapeutics, Inc. has a one year low of $5.12 and a one year high of $17.95.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Monday, May 6th. The company reported ($1.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.98) by ($0.78). Travere Therapeutics had a negative net margin of 87.94% and a negative return on equity of 238.06%. The business had revenue of $41.40 million during the quarter, compared to analyst estimates of $43.46 million. During the same period in the previous year, the business posted ($1.27) EPS. The business’s revenue for the quarter was up 34.0% compared to the same quarter last year. Sell-side analysts anticipate that Travere Therapeutics, Inc. will post -3.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TVTX shares. Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Travere Therapeutics in a research report on Wednesday, April 17th. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Travere Therapeutics in a research note on Tuesday, May 7th. Wells Fargo & Company increased their target price on shares of Travere Therapeutics from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Friday, February 16th. Guggenheim restated a “neutral” rating on shares of Travere Therapeutics in a report on Wednesday, March 27th. Finally, Canaccord Genuity Group raised their price target on shares of Travere Therapeutics from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.58.

Travere Therapeutics Profile

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.