Travere Therapeutics, Inc. (NASDAQ:TVTX) Shares Bought by Driehaus Capital Management LLC

Driehaus Capital Management LLC grew its position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 608.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,217,975 shares of the company's stock after buying an additional 1,904,733 shares during the period. Driehaus Capital Management LLC owned 2.84% of Travere Therapeutics worth $38,637,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in Travere Therapeutics during the 4th quarter worth approximately $21,075,000. RA Capital Management L.P. acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth $20,033,000. Jennison Associates LLC acquired a new stake in Travere Therapeutics during the fourth quarter worth about $14,222,000. Renaissance Technologies LLC boosted its stake in shares of Travere Therapeutics by 28.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company's stock valued at $41,974,000 after purchasing an additional 534,500 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Travere Therapeutics by 135.2% in the fourth quarter. Invesco Ltd. now owns 858,942 shares of the company's stock valued at $14,963,000 after buying an additional 493,736 shares during the period.

Wall Street Analyst Weigh In

TVTX has been the topic of a number of recent research reports. Guggenheim reaffirmed a "buy" rating and issued a $47.00 price objective on shares of Travere Therapeutics in a research note on Monday, April 14th. Citigroup lifted their price target on shares of Travere Therapeutics from $31.00 to $35.00 and gave the stock a "buy" rating in a research note on Monday, February 24th. Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a report on Friday, April 11th. JPMorgan Chase & Co. boosted their price objective on shares of Travere Therapeutics from $42.00 to $44.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $30.00 price objective on shares of Travere Therapeutics in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $31.79.

Insider Activity

In other Travere Therapeutics news, insider Peter Heerma sold 1,771 shares of Travere Therapeutics stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $37,279.55. Following the completion of the transaction, the insider now owns 128,215 shares in the company, valued at approximately $2,698,925.75. This trade represents a 1.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Eric M. Dube sold 18,924 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $398,350.20. Following the sale, the chief executive officer now owns 419,173 shares of the company's stock, valued at $8,823,591.65. The trade was a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,527 shares of company stock worth $473,814 over the last 90 days. 4.19% of the stock is currently owned by insiders.

Travere Therapeutics Stock Up 0.3%

TVTX traded up $0.07 during trading on Wednesday, reaching $21.01. 542,386 shares of the stock were exchanged, compared to its average volume of 1,533,178. Travere Therapeutics, Inc. has a twelve month low of $6.01 and a twelve month high of $25.29. The stock's 50 day moving average price is $18.15 and its two-hundred day moving average price is $18.87. 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 stock has a market cap of $1.87 billion, a P/E ratio of -5.12 and a beta of 0.88.

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

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.