Penn Capital Management Company LLC Purchases New Stake in Travere Therapeutics, Inc. $TVTX

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

Other hedge funds have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new position in shares of Travere Therapeutics in the 4th quarter valued at about $31,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Travere Therapeutics in the 1st quarter valued at about $62,000. KBC Group NV bought a new position in shares of Travere Therapeutics in the 1st quarter valued at about $75,000. Gen Wealth Partners Inc bought a new position in shares of Travere Therapeutics in the 4th quarter valued at about $73,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Travere Therapeutics during the 1st quarter worth about $182,000.

Analyst Ratings Changes

Several brokerages have weighed in on TVTX. Stifel Nicolaus lifted their price objective on shares of Travere Therapeutics from $22.00 to $23.00 and gave the stock a "hold" rating in a research note on Friday, May 2nd. HC Wainwright lifted their price target on shares of Travere Therapeutics from $30.00 to $47.00 and gave the company a "buy" rating in a report on Thursday. Citigroup reaffirmed a "buy" rating on shares of Travere Therapeutics in a report on Sunday, August 10th. Scotiabank reaffirmed an "outperform" rating on shares of Travere Therapeutics in a report on Thursday, August 7th. Finally, Wedbush boosted their target price on shares of Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $33.43.

Travere Therapeutics Stock Down 0.7%

TVTX traded down $0.12 during trading on Friday, hitting $17.58. 515,592 shares of the company's stock were exchanged, compared to its average volume of 1,641,181. The company has a quick ratio of 1.98, a current ratio of 2.00 and a debt-to-equity ratio of 9.50. The business's 50 day moving average is $16.30 and its two-hundred day moving average is $17.51. Travere Therapeutics, Inc. has a fifty-two week low of $8.98 and a fifty-two week high of $25.29. The stock has a market cap of $1.57 billion, a P/E ratio of -8.63 and a beta of 0.74.

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