Invesco Ltd. Sells 293,015 Shares of Travere Therapeutics, Inc. $TVTX

Key Points

• Invesco Ltd. has reduced its stake in Travere Therapeutics by 34.1% during the first quarter, now holding approximately 0.64% of the company, valued at about $10.14 million.
• Travere Therapeutics reported a revenue increase of 111.5% year-over-year for the quarter, totaling $94.84 million, despite posting ($0.14) earnings per share, surpassing consensus estimates.
• Recent analyst reports updated price targets for TVTX, with Wedbush raising its price objective from $30.00 to $32.00, while the consensus target price stands at $32.21.

Invesco Ltd. trimmed its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 34.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 565,927 shares of the company's stock after selling 293,015 shares during the period. Invesco Ltd. owned about 0.64% of Travere Therapeutics worth $10,141,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC acquired a new position in Travere Therapeutics in the first quarter valued at about $182,000. Northern Trust Corp grew its stake in Travere Therapeutics by 11.3% in the fourth quarter. Northern Trust Corp now owns 754,395 shares of the company's stock valued at $13,142,000 after acquiring an additional 76,358 shares during the period. Wellington Management Group LLP acquired a new position in Travere Therapeutics in the fourth quarter valued at about $583,000. Bank of New York Mellon Corp grew its stake in Travere Therapeutics by 7.9% in the first quarter. Bank of New York Mellon Corp now owns 233,942 shares of the company's stock valued at $4,192,000 after acquiring an additional 17,079 shares during the period. Finally, GAMMA Investing LLC grew its stake in Travere Therapeutics by 5,072.9% in the first quarter. GAMMA Investing LLC now owns 10,501 shares of the company's stock valued at $188,000 after acquiring an additional 10,298 shares during the period.

Travere Therapeutics Stock Up 1.5%

TVTX traded up $0.26 on Thursday, hitting $17.70. 3,207,653 shares of the company were exchanged, compared to its average volume of 1,648,186. Travere Therapeutics, Inc. has a 12 month low of $8.98 and a 12 month high of $25.29. The company has a market cap of $1.58 billion, a PE ratio of -8.68 and a beta of 0.74. The company has a debt-to-equity ratio of 9.50, a quick ratio of 1.98 and a current ratio of 2.00. The stock's fifty day moving average is $16.23 and its 200-day moving average is $17.54.

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, topping the consensus estimate of ($0.28) by $0.14. The business had revenue of $94.84 million for the quarter, compared to analyst estimates of $100.18 million. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.Travere Therapeutics's revenue was up 111.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.65) earnings per share. Equities research analysts predict that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Analysts Set New Price Targets

TVTX has been the topic of a number of research reports. HC Wainwright boosted their price target on Travere Therapeutics from $30.00 to $47.00 and gave the company a "buy" rating in a report on Thursday. Citigroup restated a "buy" rating on shares of Travere Therapeutics in a report on Sunday, August 10th. Wedbush boosted their price target on Travere Therapeutics from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Stifel Nicolaus boosted their price target on Travere Therapeutics from $22.00 to $23.00 and gave the company a "hold" rating in a report on Friday, May 2nd. Finally, Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a report on Thursday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Travere Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $33.43.

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.