Fmr LLC Grows Stock Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Fmr LLC increased its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 27.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 147,416 shares of the company’s stock after purchasing an additional 31,772 shares during the period. Fmr LLC owned approximately 0.19% of Travere Therapeutics worth $2,062,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in TVTX. CWM LLC raised its holdings in shares of Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after purchasing an additional 3,065 shares during the last quarter. DRW Securities LLC purchased a new position in shares of Travere Therapeutics during the second quarter valued at approximately $95,000. Forefront Analytics LLC raised its holdings in shares of Travere Therapeutics by 10.2% during the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after purchasing an additional 1,237 shares during the last quarter. Sei Investments Co. bought a new stake in Travere Therapeutics during the second quarter valued at approximately $117,000. Finally, Quest Partners LLC grew its position in Travere Therapeutics by 240.6% during the second quarter. Quest Partners LLC now owns 14,336 shares of the company’s stock valued at $118,000 after buying an additional 10,127 shares during the period.

Wall Street Analysts Forecast Growth

TVTX has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Canaccord Genuity Group cut their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Guggenheim boosted their target price on shares of Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. HC Wainwright cut their target price on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Finally, Wedbush boosted their target price on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $22.62.

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX opened at $17.32 on Friday. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The firm has a fifty day moving average price of $18.08 and a 200 day moving average price of $12.70. Travere Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $20.33. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -3.81 and a beta of 0.69.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The firm had revenue of $62.90 million during the quarter, compared to analyst estimates of $60.87 million. During the same quarter in the prior year, the business earned ($1.17) earnings per share. Travere Therapeutics’s revenue for the quarter was up 69.6% on a year-over-year basis. As a group, sell-side analysts expect that Travere Therapeutics, Inc. will post -3.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jeffrey A. Meckler sold 40,000 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $14.06, for a total transaction of $562,400.00. Following the sale, the director now owns 81,000 shares of the company’s stock, valued at $1,138,860. This represents a 33.06 % 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, CAO Sandra Calvin sold 12,090 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $18.30, for a total transaction of $221,247.00. Following the sale, the chief accounting officer now directly owns 54,927 shares in the company, valued at approximately $1,005,164.10. The trade was a 18.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,090 shares of company stock worth $1,372,847. 3.75% of the stock is owned by insiders.

About Travere Therapeutics

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.