21,094 Shares in Travere Therapeutics, Inc. $TVTX Acquired by Penn Capital Management Company LLC

Key Points

• Penn Capital Management Company LLC has acquired 21,094 shares of Travere Therapeutics, Inc., valued at approximately $378,000, becoming a new stakeholder in the company.
• Travere Therapeutics reported a quarterly revenue of $94.84 million, marking a 111.5% increase compared to the same quarter last year, while also exceeding EPS estimates.
• Research analysts have mixed opinions on Travere Therapeutics, with a consensus rating of "Moderate Buy" and a price target averaging $32.21 per share.

Penn Capital Management Company LLC acquired a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 21,094 shares of the company's stock, valued at approximately $378,000.

A number of other hedge funds also recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new position in shares of Travere Therapeutics in the fourth quarter valued at $31,000. Caitong International Asset Management Co. Ltd acquired a new position in Travere Therapeutics in the 1st quarter worth $62,000. Gen Wealth Partners Inc acquired a new position in Travere Therapeutics in the 4th quarter worth $73,000. KBC Group NV purchased a new position in Travere Therapeutics in the 1st quarter valued at about $75,000. Finally, Twinbeech Capital LP acquired a new stake in shares of Travere Therapeutics during the fourth quarter valued at about $177,000.

Travere Therapeutics Price Performance

Shares of TVTX opened at $17.92 on Friday. Travere Therapeutics, Inc. has a 52 week low of $8.50 and a 52 week high of $25.29. The company has a current ratio of 2.00, a quick ratio of 1.98 and a debt-to-equity ratio of 9.50. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -8.78 and a beta of 0.74. The stock has a 50 day moving average of $16.05 and a 200-day moving average of $17.60.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.14. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The business had revenue of $94.84 million for the quarter, compared to analyst estimates of $100.18 million. During the same period in the prior year, the company posted ($0.65) EPS. The business's revenue was up 111.5% compared to the same quarter last year. As a group, analysts forecast that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on TVTX shares. Wall Street Zen cut Travere Therapeutics from a "buy" rating to a "hold" rating in a research note on Sunday. HC Wainwright restated a "buy" rating and set a $30.00 price objective on shares of Travere Therapeutics in a report on Tuesday, July 1st. Wedbush increased their target price on Travere Therapeutics from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Scotiabank reissued an "outperform" rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. Finally, Citigroup restated a "buy" rating on shares of Travere Therapeutics in a research note on Sunday, August 10th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.21.

Travere Therapeutics 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.

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