Travere Therapeutics, Inc. $TVTX Shares Sold by Eversept Partners LP

Eversept Partners LP lowered its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 53.8% in the first quarter, Holdings Channel.com reports. The firm owned 542,610 shares of the company’s stock after selling 632,358 shares during the period. Travere Therapeutics accounts for 0.9% of Eversept Partners LP’s investment portfolio, making the stock its 25th largest holding. Eversept Partners LP’s holdings in Travere Therapeutics were worth $16,121,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in Travere Therapeutics during the second quarter worth about $33,000. Fifth Third Bancorp purchased a new stake in Travere Therapeutics in the 1st quarter valued at about $35,000. State of Wyoming purchased a new stake in Travere Therapeutics in the 4th quarter valued at about $37,000. Torren Management LLC purchased a new stake in Travere Therapeutics in the 4th quarter valued at about $38,000. Finally, Comerica Bank increased its stake 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 acquiring an additional 492 shares during the last quarter.

Analyst Upgrades and Downgrades

TVTX has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Citigroup boosted their target price on shares of Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a report on Monday, June 15th. Piper Sandler raised shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price target for the company in a research report on Tuesday, April 14th. Wedbush increased their price target on shares of Travere Therapeutics from $55.00 to $61.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Finally, HC Wainwright lifted their price target on shares of Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $52.08.

Insiders Place Their Bets

In related news, Director Timothy Coughlin sold 10,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $50.07, for a total value of $500,700.00. Following the transaction, the director owned 56,250 shares in the company, valued at approximately $2,816,437.50. The trade was a 15.09% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 Elizabeth E. Reed sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $45.00, for a total value of $900,000.00. Following the sale, the insider owned 105,211 shares of the company’s stock, valued at approximately $4,734,495. This trade represents a 15.97% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last 90 days, insiders have sold 113,413 shares of company stock valued at $5,161,607. Insiders own 4.44% of the company’s stock.

Travere Therapeutics Stock Down 1.2%

Shares of NASDAQ TVTX opened at $56.68 on Tuesday. The company has a market cap of $5.27 billion, a P/E ratio of -246.42 and a beta of 1.10. The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16. Travere Therapeutics, Inc. has a 12-month low of $15.03 and a 12-month high of $60.10. The stock has a fifty day moving average price of $52.56 and a 200 day moving average price of $39.69.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Monday, May 4th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.24) by $0.29. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The firm had revenue of $127.20 million for the quarter, compared to analyst estimates of $136.23 million. During the same period in the previous year, the company posted ($0.47) EPS. Travere Therapeutics’s revenue for the quarter was up 55.6% on a year-over-year basis. Research analysts anticipate that Travere Therapeutics, Inc. will post -0.31 EPS for the current fiscal year.

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.