Jefferies Financial Group Inc. Takes Position in Travere Therapeutics, Inc. $TVTX

Key Points

• Jefferies Financial Group acquired 29,037 shares of Travere Therapeutics in the second quarter, valued at approximately $1.65 million. Several other institutional investors also initiated or expanded positions, including Bank of America and Jupiter Topco.
• Travere reported quarterly revenue of $169.58 million, up 48.2% year over year, and an adjusted loss of $0.10 per share that exceeded analysts’ expectations. Analysts project a full-year loss of $0.56 per share.
• TVTX opened at $65.67, near its 12-month high of $67.85. Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $61.67, while two directors recently sold shares under pre-arranged trading plans.

Jefferies Financial Group Inc. purchased a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,037 shares of the company's stock, valued at approximately $1,650,000.

Several other institutional investors have also added to or reduced their stakes in TVTX. Corient Private Wealth LP bought a new position in shares of Travere Therapeutics during the 2nd quarter valued at approximately $2,731,000. Artia Global Partners LP bought a new position in Travere Therapeutics during the second quarter valued at $19,260,000. Bank of America Corp DE purchased a new position in shares of Travere Therapeutics in the 2nd quarter worth $259,527,000. Freestone Grove Partners LP bought a new stake in shares of Travere Therapeutics in the 2nd quarter worth about $244,000. Finally, Jupiter Topco LLC bought a new stake in shares of Travere Therapeutics in the 2nd quarter worth about $643,299,000.

Insider Activity

In other Travere Therapeutics news, Director Roy D. Baynes sold 4,500 shares of Travere Therapeutics stock in a transaction on Friday, June 12th. The shares were sold at an average price of $50.00, for a total value of $225,000.00. Following the transaction, the director directly owned 41,500 shares of the company's stock, valued at approximately $2,075,000. The trade was a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $50.07, for a total value of $500,700.00. Following the sale, the director owned 56,250 shares in the company, valued at $2,816,437.50. The trade was a 15.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.44% of the company's stock.

Travere Therapeutics Stock Performance

TVTX stock opened at $65.67 on Friday. Travere Therapeutics, Inc. has a twelve month low of $17.27 and a twelve month high of $67.85. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of -142.76 and a beta of 1.12. The business's fifty day simple moving average is $59.34 and its two-hundred day simple moving average is $44.84. The company has a quick ratio of 3.99, a current ratio of 4.05 and a debt-to-equity ratio of 24.58.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.03. The company had revenue of $169.58 million for the quarter, compared to the consensus estimate of $157.27 million. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The firm's revenue was up 48.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 EPS. Analysts predict that Travere Therapeutics, Inc. will post -0.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wall Street Zen downgraded Travere Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Guggenheim increased their price target on Travere Therapeutics from $65.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Piper Sandler restated an "overweight" rating on shares of Travere Therapeutics in a research report on Monday, August 17th. Weiss Ratings cut shares of Travere Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, June 23rd. Finally, Wedbush increased their target price on shares of Travere Therapeutics from $61.00 to $75.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $61.67.

About Travere Therapeutics

Travere Therapeutics, Inc NASDAQ: TVTX is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company's mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company's lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.

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