Aberdeen Group plc Raises Stock Holdings in Travere Therapeutics, Inc. $TVTX

Key Points

• Aberdeen Group plc increased its stake in Travere Therapeutics by 22.5%, now owning approximately 0.54% of the company valued at $8.6 million.
• Wall Street analysts have given Travere Therapeutics a consensus rating of "Moderate Buy" and a target price of $32.21, with 13 analysts rating it a buy and two a hold.
• Travere Therapeutics reported a quarterly revenue of $94.84 million, despite a net margin of -50.64% and a negative return on equity of -717.68%.

Aberdeen Group plc grew its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 22.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 480,369 shares of the company's stock after acquiring an additional 88,369 shares during the quarter. Aberdeen Group plc owned about 0.54% of Travere Therapeutics worth $8,608,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Oak Ridge Investments LLC lifted its position in shares of Travere Therapeutics by 2.8% in the first quarter. Oak Ridge Investments LLC now owns 54,070 shares of the company's stock valued at $969,000 after acquiring an additional 1,471 shares in the last quarter. E Fund Management Co. Ltd. lifted its position in shares of Travere Therapeutics by 8.6% in the first quarter. E Fund Management Co. Ltd. now owns 13,553 shares of the company's stock valued at $243,000 after acquiring an additional 1,072 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Travere Therapeutics in the first quarter valued at $62,000. Informed Momentum Co LLC purchased a new stake in shares of Travere Therapeutics in the first quarter valued at $2,693,000. Finally, Nuveen LLC purchased a new stake in shares of Travere Therapeutics in the first quarter valued at $21,569,000.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Cantor Fitzgerald restated an "overweight" rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. Stifel Nicolaus increased their target price on Travere Therapeutics from $22.00 to $23.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. HC Wainwright reiterated a "buy" rating and set a $30.00 target price on shares of Travere Therapeutics in a research report on Tuesday, July 1st. Finally, Wedbush increased their target price on Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.21.

Travere Therapeutics Stock Performance

Travere Therapeutics stock opened at $17.63 on Wednesday. The stock's 50-day moving average is $15.86 and its 200-day moving average is $17.66. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -8.64 and a beta of 0.74. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98. Travere Therapeutics, Inc. has a 12 month low of $8.46 and a 12 month high of $25.29.

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

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