Corient Private Wealth LP bought a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 48,073 shares of the company's stock, valued at approximately $2,731,000. Corient Private Wealth LP owned 0.05% of Travere Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently modified their holdings of the company. Jupiter Topco LLC acquired a new position in shares of Travere Therapeutics in the 2nd quarter valued at about $643,299,000. Bank of America Corp DE acquired a new position in Travere Therapeutics during the 2nd quarter valued at approximately $259,527,000. State Street Corp grew its stake in Travere Therapeutics by 47.8% during the 4th quarter. State Street Corp now owns 4,756,666 shares of the company's stock worth $181,752,000 after buying an additional 1,538,827 shares during the last quarter. Wellington Management Group LLP grew its stake in Travere Therapeutics by 3,331.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company's stock worth $28,715,000 after buying an additional 1,166,460 shares during the last quarter. Finally, Fiera Capital Corp acquired a new stake in Travere Therapeutics in the fourth quarter worth $33,398,000.
Analysts Set New Price Targets
Several brokerages have recently issued reports on TVTX. Guggenheim upped their price target on shares of Travere Therapeutics from $65.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Wells Fargo & Company lifted their price target on Travere Therapeutics from $50.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, June 12th. TD Cowen lifted their price target on Travere Therapeutics from $60.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Citigroup boosted their price objective on Travere Therapeutics from $70.00 to $85.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Finally, Wedbush increased their price objective on Travere Therapeutics from $61.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $61.67.
Get Our Latest Stock Analysis on Travere Therapeutics
Travere Therapeutics Trading Down 0.9%
Travere Therapeutics stock opened at $65.71 on Wednesday. Travere Therapeutics, Inc. has a 1 year low of $17.27 and a 1 year high of $67.85. The firm's 50 day moving average price is $59.76 and its two-hundred day moving average price is $45.45. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of -142.84 and a beta of 1.05. The company has a debt-to-equity ratio of 24.58, a quick ratio of 3.99 and a current ratio of 4.05.
Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.03. The business had revenue of $169.58 million during the quarter, compared to analyst estimates of $157.27 million. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.The company's revenue was up 48.2% compared to the same quarter last year. During the same period last year, the company posted $0.13 EPS. On average, research analysts predict that Travere Therapeutics, Inc. will post -0.56 EPS for the current fiscal year.
Insider Transactions at Travere Therapeutics
In other Travere Therapeutics news, Director Timothy Coughlin sold 10,000 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $50.07, for a total transaction of $500,700.00. Following the sale, the director owned 56,250 shares in the company, valued at approximately $2,816,437.50. The trade was a 15.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy D. Baynes sold 4,500 shares of the business's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $50.00, for a total transaction of $225,000.00. Following the sale, the director directly owned 41,500 shares in the company, valued at approximately $2,075,000. This trade represents a 9.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.44% of the company's stock.
About Travere Therapeutics
(
Free Report)
Travere Therapeutics, Inc NASDAQ: TVTX is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company's mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.
The company's lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.
Further Reading
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