Candriam S.C.A. Acquires New Shares in Travere Therapeutics, Inc. $TVTX

Key Points

• Candriam S.C.A. acquired a new stake in Travere Therapeutics, purchasing 534,072 shares valued at approximately $9.57 million, representing around 0.60% ownership in the company.
• Thirteen investment analysts currently recommend Travere Therapeutics with a Buy rating, and the stock has an average price target of $32.21.
• Travere Therapeutics reported a 111.5% year-over-year revenue increase for the recent quarter, with earnings per share of ($0.14), which exceeded analysts’ expectations.

Candriam S.C.A. purchased a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 534,072 shares of the company's stock, valued at approximately $9,571,000. Candriam S.C.A. owned approximately 0.60% of Travere Therapeutics as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Hsbc Holdings PLC increased its holdings in Travere Therapeutics by 10.4% in the 1st quarter. Hsbc Holdings PLC now owns 30,737 shares of the company's stock worth $542,000 after buying an additional 2,902 shares in the last quarter. Northern Trust Corp boosted its holdings in Travere Therapeutics by 7.2% in the first quarter. Northern Trust Corp now owns 808,687 shares of the company's stock worth $14,492,000 after purchasing an additional 54,292 shares during the last quarter. Aberdeen Group plc grew its position in Travere Therapeutics by 22.5% in the 1st quarter. Aberdeen Group plc now owns 480,369 shares of the company's stock worth $8,608,000 after purchasing an additional 88,369 shares during the period. Oak Ridge Investments LLC increased its holdings in Travere Therapeutics by 2.8% in the 1st quarter. Oak Ridge Investments LLC now owns 54,070 shares of the company's stock worth $969,000 after acquiring an additional 1,471 shares in the last quarter. Finally, E Fund Management Co. Ltd. boosted 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 worth $243,000 after purchasing an additional 1,072 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Scotiabank reaffirmed an "outperform" rating on shares of Travere Therapeutics in a report on Thursday, August 7th. Citigroup reaffirmed a "buy" rating on shares of Travere Therapeutics in a research report on Sunday, August 10th. Wedbush increased their price target on Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Stifel Nicolaus raised their price objective on Travere Therapeutics from $22.00 to $23.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Finally, HC Wainwright reiterated a "buy" rating and issued a $30.00 target price on shares of Travere Therapeutics in a research report on Tuesday, July 1st. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $32.21.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock traded up $0.20 during mid-day trading on Tuesday, reaching $17.43. 852,962 shares of the stock traded hands, compared to its average volume of 1,640,087. 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 has a 50-day moving average of $16.10 and a 200 day moving average of $17.54. The stock has a market capitalization of $1.55 billion, a PE ratio of -8.54 and a beta of 0.74. Travere Therapeutics, Inc. has a fifty-two week low of $8.83 and a fifty-two week high of $25.29.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) 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 firm had revenue of $94.84 million during the quarter, compared to the consensus estimate of $100.18 million. During the same period in the prior year, the company earned ($0.65) EPS. The firm's revenue was up 111.5% compared to the same quarter last year. On average, analysts predict that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

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.