Federated Hermes Inc. Buys New Shares in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Federated Hermes Inc. purchased a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 41,717 shares of the company’s stock, valued at approximately $343,000. Federated Hermes Inc. owned approximately 0.05% of Travere Therapeutics as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TVTX. ProShare Advisors LLC increased its position in shares of Travere Therapeutics by 9.2% during the first quarter. ProShare Advisors LLC now owns 18,421 shares of the company’s stock valued at $142,000 after purchasing an additional 1,557 shares during the period. Rice Hall James & Associates LLC increased its holdings in Travere Therapeutics by 3.8% in the 2nd quarter. Rice Hall James & Associates LLC now owns 76,174 shares of the company’s stock valued at $626,000 after buying an additional 2,774 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Travere Therapeutics by 10.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,009 shares of the company’s stock worth $240,000 after acquiring an additional 2,948 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Travere Therapeutics by 8.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,178 shares of the company’s stock valued at $387,000 after acquiring an additional 3,754 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Travere Therapeutics in the first quarter valued at about $32,000.

Travere Therapeutics Price Performance

TVTX opened at $14.56 on Wednesday. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. The stock has a market capitalization of $1.11 billion, a P/E ratio of -6.93 and a beta of 0.71. The company’s 50 day simple moving average is $10.38 and its 200-day simple moving average is $8.31. Travere Therapeutics, Inc. has a one year low of $5.12 and a one year high of $15.36.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). The firm had revenue of $54.12 million during the quarter, compared to the consensus estimate of $49.50 million. Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. Sell-side analysts anticipate that Travere Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TVTX has been the subject of a number of analyst reports. Guggenheim upgraded shares of Travere Therapeutics from a “neutral” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Monday, September 9th. Citigroup upped their price target on Travere Therapeutics from $14.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Bank of America lifted their price objective on Travere Therapeutics from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, September 6th. HC Wainwright upped their target price on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.91.

Insider Buying and Selling

In other Travere Therapeutics news, insider Jula Inrig sold 2,191 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $25,240.32. Following the transaction, the insider now directly owns 62,633 shares in the company, valued at approximately $721,532.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $243,360.00. Following the completion of the sale, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jula Inrig sold 2,191 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $25,240.32. Following the completion of the transaction, the insider now directly owns 62,633 shares in the company, valued at approximately $721,532.16. The disclosure for this sale can be found here. Insiders sold a total of 30,707 shares of company stock worth $352,712 over the last three months. 3.75% of the stock is currently owned by company insiders.

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.