Travere Therapeutics, Inc. (NASDAQ:TVTX) Shares Purchased by Rafferty Asset Management LLC

Rafferty Asset Management LLC grew its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 92.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 176,425 shares of the company’s stock after purchasing an additional 84,654 shares during the period. Rafferty Asset Management LLC’s holdings in Travere Therapeutics were worth $3,073,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Rock Springs Capital Management LP boosted its stake in shares of Travere Therapeutics by 6.2% in the fourth quarter. Rock Springs Capital Management LP now owns 4,973,649 shares of the company’s stock valued at $86,641,000 after buying an additional 289,173 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Travere Therapeutics by 28.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company’s stock valued at $41,974,000 after acquiring an additional 534,500 shares during the period. Driehaus Capital Management LLC boosted its position in shares of Travere Therapeutics by 608.1% during the 4th quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company’s stock worth $38,637,000 after purchasing an additional 1,904,733 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Travere Therapeutics by 36.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company’s stock worth $37,875,000 after purchasing an additional 583,836 shares in the last quarter. Finally, Emerald Advisers LLC grew its stake in shares of Travere Therapeutics by 8.4% during the 4th quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company’s stock worth $37,030,000 after purchasing an additional 165,085 shares during the period.

Travere Therapeutics Stock Performance

Travere Therapeutics stock opened at $16.80 on Monday. Travere Therapeutics, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $25.29. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -4.10 and a beta of 0.88. The stock has a fifty day moving average of $18.25 and a two-hundred day moving average of $18.92. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.08. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The business had revenue of $81.73 million for the quarter, compared to analyst estimates of $77.44 million. During the same quarter last year, the company earned ($1.76) earnings per share. The business’s revenue for the quarter was up 83.3% compared to the same quarter last year. On average, analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Christopher R. Cline sold 1,784 shares of the firm’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $37,553.20. Following the sale, the chief financial officer now owns 93,126 shares in the company, valued at $1,960,302.30. This trade represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Peter Heerma sold 1,771 shares of Travere Therapeutics stock in a transaction on Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $37,279.55. Following the completion of the sale, the insider now directly owns 128,215 shares of the company’s stock, valued at approximately $2,698,925.75. This represents a 1.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,527 shares of company stock valued at $473,814 in the last ninety days. Insiders own 4.19% of the company’s stock.

Wall Street Analysts Forecast Growth

TVTX has been the subject of several recent analyst reports. Scotiabank reiterated an “outperform” rating on shares of Travere Therapeutics in a research note on Friday, April 11th. Bank of America lifted their price target on shares of Travere Therapeutics from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. JPMorgan Chase & Co. upped their price target on Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Stifel Nicolaus raised their price objective on Travere Therapeutics from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Friday, May 2nd. Finally, Citigroup lifted their price objective on Travere Therapeutics from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.79.

Travere Therapeutics Company 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.