Adage Capital Partners GP L.L.C. Cuts Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Adage Capital Partners GP L.L.C. trimmed its position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 376,800 shares of the company's stock after selling 23,200 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.48% of Travere Therapeutics worth $6,564,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in shares of Travere Therapeutics in the 3rd quarter worth about $301,000. Diversified Trust Co increased its position in shares of Travere Therapeutics by 27.5% in the fourth quarter. Diversified Trust Co now owns 14,701 shares of the company's stock worth $256,000 after acquiring an additional 3,169 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Travere Therapeutics during the 4th quarter valued at about $53,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Travere Therapeutics in the fourth quarter valued at $192,000. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Travere Therapeutics by 23.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,206 shares of the company's stock worth $317,000 after acquiring an additional 3,494 shares during the last quarter.

Travere Therapeutics Trading Up 1.9 %

TVTX traded up $0.39 on Friday, hitting $21.15. 2,333,802 shares of the company were exchanged, compared to its average volume of 1,522,876. 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 simple moving average of $18.07 and a two-hundred day simple moving average of $18.71. The stock has a market capitalization of $1.88 billion, a PE ratio of -5.16 and a beta of 0.84. Travere Therapeutics, Inc. has a 12 month low of $5.79 and a 12 month high of $25.29.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.55) by $0.08. The company had revenue of $81.73 million for the quarter, compared to analysts' expectations of $77.44 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. Travere Therapeutics's revenue was up 83.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.76) EPS. Sell-side analysts expect that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TVTX has been the topic of a number of recent research reports. Cantor Fitzgerald reissued an "overweight" rating on shares of Travere Therapeutics in a report on Wednesday, April 23rd. Evercore ISI raised their price objective on Travere Therapeutics from $33.00 to $45.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Bank of America increased their price target on shares of Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. Guggenheim restated a "buy" rating and set a $47.00 price target on shares of Travere Therapeutics in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. upped their price target on Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $31.79.

Insider Buying and Selling

In other Travere Therapeutics news, CAO Sandra Calvin sold 54,244 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the transaction, the chief accounting officer now owns 54,410 shares in the company, valued at $1,360,250. The trade was a 49.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP William E. Rote sold 8,951 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $19.78, for a total value of $177,050.78. Following the completion of the sale, the senior vice president now owns 95,719 shares in the company, valued at approximately $1,893,321.82. The trade was a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 156,330 shares of company stock worth $3,507,377. 4.06% 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.