Travere Therapeutics, Inc. $TVTX Shares Bought by Driehaus Capital Management LLC

Key Points

• Driehaus Capital Management LLC increased its stake in Travere Therapeutics by 24.8%, acquiring an additional 549,718 shares, bringing its total ownership to 2,767,693 shares worth approximately $49.6 million.
• Travere Therapeutics has experienced significant revenue growth, reporting 111.5% year-over-year increase during its last quarterly earnings, although still posting a net loss of $0.14 per share.
• Investment analysts generally favor Travere Therapeutics, with thirteen analysts rating the stock a Buy and an average target price of $33.43.

Driehaus Capital Management LLC increased its position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 24.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,767,693 shares of the company's stock after buying an additional 549,718 shares during the quarter. Driehaus Capital Management LLC owned 3.12% of Travere Therapeutics worth $49,597,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Ieq Capital LLC raised its position in shares of Travere Therapeutics by 60.6% in the first quarter. Ieq Capital LLC now owns 33,323 shares of the company's stock worth $597,000 after acquiring an additional 12,574 shares during the period. Corebridge Financial Inc. raised its stake in shares of Travere Therapeutics by 9.7% during the 1st quarter. Corebridge Financial Inc. now owns 41,211 shares of the company's stock worth $739,000 after buying an additional 3,646 shares in the last quarter. MetLife Investment Management LLC grew its position in Travere Therapeutics by 10.2% during the first quarter. MetLife Investment Management LLC now owns 49,288 shares of the company's stock worth $883,000 after buying an additional 4,577 shares during the period. Penn Capital Management Company LLC purchased a new stake in shares of Travere Therapeutics in the first quarter valued at $378,000. Finally, Candriam S.C.A. purchased a new stake in Travere Therapeutics in the 1st quarter valued at about $9,571,000.

Analyst Ratings Changes

Several brokerages have issued reports on TVTX. Citigroup restated a "buy" rating on shares of Travere Therapeutics in a research note on Sunday, August 10th. Wall Street Zen raised shares of Travere Therapeutics from a "hold" rating to a "buy" rating in a research report on Monday. Wedbush increased their target price on shares of Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. HC Wainwright boosted their price target on shares of Travere Therapeutics from $30.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Finally, Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a report on Thursday, August 7th. 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.com, the stock has an average rating of "Moderate Buy" and an average price target of $33.43.

Travere Therapeutics Price Performance

Shares of TVTX traded up $0.65 during midday trading on Tuesday, hitting $18.15. 2,150,114 shares of the company traded hands, compared to its average volume of 1,650,368. The firm has a market cap of $1.62 billion, a P/E ratio of -8.90 and a beta of 0.78. 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 one year low of $9.34 and a one year high of $25.29. The stock has a 50-day moving average of $16.42 and a 200-day moving average of $17.35.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $100.18 million. During the same period last year, the business earned ($0.65) earnings per share. The business's revenue was up 111.5% on a year-over-year basis. As a group, sell-side analysts predict that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

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.