Jacobs Levy Equity Management Inc. Reduces Stock Position in Travere Therapeutics, Inc. $TVTX

Key Points

• Jacobs Levy Equity Management Inc. has significantly reduced its stake in Travere Therapeutics, decreasing its holdings by 60.3% to approximately 0.97% of the company, valued at $15.47 million.
• Travere Therapeutics reported a earnings per share (EPS) of ($0.14) for the most recent quarter, exceeding analysts' expectations, with a revenue of $94.84 million, a 111.5% increase year-over-year.
• Wall Street ratings have been largely positive, with several analysts upgrading their ratings and price targets for Travere, indicating a consensus average target price of $33.43 for the stock.

Jacobs Levy Equity Management Inc. lessened its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 60.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 863,088 shares of the company's stock after selling 1,311,125 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.97% of Travere Therapeutics worth $15,467,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TVTX. GF Fund Management CO. LTD. purchased a new position in Travere Therapeutics in the fourth quarter valued at $31,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Travere Therapeutics during the first quarter worth about $62,000. Gen Wealth Partners Inc purchased a new position in shares of Travere Therapeutics during the fourth quarter worth about $73,000. KBC Group NV purchased a new position in shares of Travere Therapeutics during the first quarter worth about $75,000. Finally, Twinbeech Capital LP purchased a new position in shares of Travere Therapeutics during the fourth quarter worth about $177,000.

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX opened at $21.64 on Friday. 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 company has a market cap of $1.93 billion, a P/E ratio of -10.61 and a beta of 0.79. Travere Therapeutics, Inc. has a 52 week low of $10.64 and a 52 week high of $25.29. The company has a 50-day moving average price of $16.83 and a 200 day moving average price of $17.31.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.28) by $0.14. The firm had revenue of $94.84 million during the quarter, compared to the consensus estimate of $100.18 million. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The firm's revenue was up 111.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.65) earnings per share. Research analysts predict that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Wall Street Analyst Weigh In

TVTX has been the topic of several research reports. Wall Street Zen raised Travere Therapeutics from a "hold" rating to a "buy" rating in a report on Monday, September 1st. Scotiabank reissued an "outperform" rating on shares of Travere Therapeutics in a report on Thursday, August 7th. Citigroup reissued a "buy" rating on shares of Travere Therapeutics in a report on Sunday, August 10th. HC Wainwright reissued a "buy" rating and set a $47.00 price target on shares of Travere Therapeutics in a report on Wednesday. Finally, Wedbush raised their price target on Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $33.43.

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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