Travere Therapeutics, Inc. (NASDAQ:TVTX) Shares Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. raised its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 132.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 285,350 shares of the company's stock after purchasing an additional 162,649 shares during the quarter. Ameriprise Financial Inc. owned 0.37% of Travere Therapeutics worth $4,971,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Sterling Capital Management LLC boosted its holdings in shares of Travere Therapeutics by 859.8% in the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock valued at $41,000 after purchasing an additional 2,115 shares during the period. R Squared Ltd purchased a new stake in shares of Travere Therapeutics in the 4th quarter worth $53,000. Summit Investment Advisors Inc. lifted its holdings in shares of Travere Therapeutics by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company's stock worth $138,000 after buying an additional 667 shares during the period. Victory Capital Management Inc. bought a new position in shares of Travere Therapeutics during the 4th quarter worth $182,000. Finally, Baader Bank Aktiengesellschaft purchased a new position in shares of Travere Therapeutics during the fourth quarter valued at $192,000.

Travere Therapeutics Stock Down 3.2%

NASDAQ:TVTX traded down $0.50 during mid-day trading on Tuesday, hitting $15.34. 1,767,144 shares of the company's stock traded hands, compared to its average volume of 1,579,166. The company has a fifty day moving average of $17.83 and a 200 day moving average of $18.85. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. Travere Therapeutics, Inc. has a twelve month low of $6.30 and a twelve month high of $25.29. The company has a market capitalization of $1.36 billion, a P/E ratio of -3.74 and a beta of 0.88.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly 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. The business had revenue of $81.73 million for the quarter, compared to analyst estimates of $77.44 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The company's revenue was up 83.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.76) earnings per share. On average, analysts forecast that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Insider Buying and Selling at Travere Therapeutics

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

Analysts Set New Price Targets

TVTX has been the subject of several recent research reports. Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a report on Friday, April 11th. Cantor Fitzgerald restated an "overweight" rating on shares of Travere Therapeutics in a report on Wednesday, April 23rd. Bank of America upped their price target on shares of Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. JPMorgan Chase & Co. lifted their price objective on shares of Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Finally, Stifel Nicolaus boosted 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. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Travere Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $31.79.

Travere Therapeutics Company 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.