Travere Therapeutics, Inc. $TVTX Shares Sold by Jacobs Levy Equity Management Inc.

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

A number of other institutional investors and hedge funds have also made changes to their positions in TVTX. GF Fund Management CO. LTD. purchased a new stake in shares of Travere Therapeutics in the fourth quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Travere Therapeutics in the first quarter valued at approximately $62,000. Gen Wealth Partners Inc purchased a new stake in shares of Travere Therapeutics in the fourth quarter valued at approximately $73,000. KBC Group NV purchased a new stake in shares of Travere Therapeutics in the first quarter valued at approximately $75,000. Finally, Twinbeech Capital LP purchased a new stake in shares of Travere Therapeutics in the fourth quarter valued at approximately $177,000.

Travere Therapeutics Trading Down 6.5%

Shares of Travere Therapeutics stock traded down $1.62 during trading hours on Friday, hitting $23.38. The company's stock had a trading volume of 1,474,947 shares, compared to its average volume of 1,763,129. The firm has a fifty day moving average of $17.55 and a 200-day moving average of $17.38. 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 has a market cap of $2.08 billion, a price-to-earnings ratio of -11.43 and a beta of 0.79. Travere Therapeutics, Inc. has a twelve month low of $12.57 and a twelve month high of $28.69.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping 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 return on equity of 717.68% and a negative net margin of 50.64%.The company's quarterly revenue was up 111.5% on a year-over-year basis. During the same period last year, the company earned ($0.65) EPS. Research analysts forecast that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TVTX shares. Jefferies Financial Group set a $35.00 price objective on Travere Therapeutics in a report on Wednesday. Wall Street Zen raised shares of Travere Therapeutics from a "hold" rating to a "buy" rating in a research note on Monday, September 1st. Wells Fargo & Company lifted their target price on shares of Travere Therapeutics from $27.00 to $35.00 and gave the stock an "overweight" rating in a research note on Thursday. Wedbush lifted their target price on shares of Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Citigroup reaffirmed a "buy" rating on shares of Travere Therapeutics in a research note on Sunday, August 10th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.20.

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.