1,209,810 Shares in Travere Therapeutics, Inc. (NASDAQ:TVTX) Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets bought a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 1,209,810 shares of the company's stock, valued at approximately $21,075,000. BNP Paribas Financial Markets owned approximately 1.55% of Travere Therapeutics at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Rock Springs Capital Management LP boosted its stake in shares of Travere Therapeutics by 6.2% in the 4th 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 during the period. Renaissance Technologies LLC lifted its stake in Travere Therapeutics by 28.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company's stock worth $41,974,000 after acquiring an additional 534,500 shares during the last quarter. Emerald Advisers LLC grew its holdings in 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 acquiring an additional 165,085 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Travere Therapeutics by 6.4% in the 4th quarter. Geode Capital Management LLC now owns 1,842,301 shares of the company's stock valued at $32,100,000 after purchasing an additional 111,256 shares during the last quarter. Finally, RA Capital Management L.P. purchased a new stake in shares of Travere Therapeutics in the 4th quarter valued at approximately $20,033,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TVTX. Wedbush reiterated an "outperform" rating and set a $30.00 target price on shares of Travere Therapeutics in a research note on Friday, May 2nd. JPMorgan Chase & Co. upped their price objective on Travere Therapeutics from $42.00 to $44.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Cantor Fitzgerald reissued an "overweight" rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. Canaccord Genuity Group upped their price target on Travere Therapeutics from $45.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, April 10th. Finally, HC Wainwright raised their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $31.79.

Travere Therapeutics Stock Performance

NASDAQ TVTX opened at $20.02 on Friday. The firm has a market cap of $1.78 billion, a P/E ratio of -4.88 and a beta of 0.88. Travere Therapeutics, Inc. has a 52-week low of $6.01 and a 52-week high of $25.29. The business's 50-day moving average price is $18.07 and its 200 day moving average price is $18.82. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share (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 in the previous year, the company posted ($1.76) earnings per share. The company's revenue for the quarter was up 83.3% compared to the same quarter last year. On average, equities research analysts expect that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Sandra Calvin sold 54,244 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total value of $1,356,100.00. Following the completion of the sale, the chief accounting officer now owns 54,410 shares in the company, valued at $1,360,250. This trade represents a 49.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Peter Heerma sold 3,074 shares of Travere Therapeutics stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total value of $76,850.00. Following the completion of the sale, the insider now directly owns 127,634 shares in the company, valued at $3,190,850. This represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,420 shares of company stock worth $2,302,575. 4.19% 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.

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