Emerald Advisers LLC Lowers Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Emerald Advisers LLC trimmed its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,077,173 shares of the company's stock after selling 48,571 shares during the period. Travere Therapeutics comprises 1.7% of Emerald Advisers LLC's holdings, making the stock its 11th largest position. Emerald Advisers LLC owned approximately 2.34% of Travere Therapeutics worth $37,223,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. GF Fund Management CO. LTD. acquired a new position in Travere Therapeutics in the fourth quarter valued at approximately $31,000. Sterling Capital Management LLC lifted its holdings in 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 acquiring an additional 2,115 shares during the period. Gen Wealth Partners Inc acquired a new position in Travere Therapeutics in the fourth quarter valued at approximately $73,000. KBC Group NV acquired a new position in Travere Therapeutics in the first quarter valued at approximately $75,000. Finally, Summit Investment Advisors Inc. lifted its holdings in Travere Therapeutics by 9.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company's stock valued at $138,000 after acquiring an additional 667 shares during the period.

Analysts Set New Price Targets

A number of research analysts have issued reports on TVTX shares. Bank of America boosted their price target on Travere Therapeutics from $29.00 to $31.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. Wedbush reissued an "outperform" rating and issued a $30.00 price target on shares of Travere Therapeutics in a report on Friday, May 16th. Guggenheim reissued a "buy" rating and issued a $47.00 price target on shares of Travere Therapeutics in a report on Monday, April 14th. HC Wainwright restated a "buy" rating and issued a $30.00 price objective on shares of Travere Therapeutics in a research report on Tuesday, July 1st. Finally, Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a research report on Friday, April 11th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $32.14.

Travere Therapeutics Stock Down 0.5%

Shares of TVTX opened at $16.47 on Friday. The company has a debt-to-equity ratio of 9.46, a quick ratio of 2.03 and a current ratio of 2.05. Travere Therapeutics, Inc. has a one year low of $7.93 and a one year high of $25.29. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -5.86 and a beta of 0.72. The stock has a 50 day moving average price of $16.26 and a 200 day moving average price of $18.09.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.08. Travere Therapeutics had a negative return on equity of 1,179.73% and a negative net margin of 82.88%. The firm had revenue of $81.73 million during the quarter, compared to analysts' expectations of $77.44 million. During the same period in the previous year, the business earned ($1.76) earnings per share. The firm's revenue for the quarter was up 83.3% on a year-over-year basis. Equities research analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Eric M. Dube sold 18,924 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $398,350.20. Following the completion of the sale, the chief executive officer directly owned 419,173 shares in the company, valued at approximately $8,823,591.65. The trade was a 4.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter Heerma sold 1,771 shares of the business's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $37,279.55. Following the transaction, the insider directly owned 128,215 shares in the company, valued at $2,698,925.75. This trade represents a 1.36% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,294 shares of company stock worth $485,123. 4.19% of the stock is owned by corporate insiders.

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.

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