Lisanti Capital Growth LLC Makes New $6.76 Million Investment in Travere Therapeutics, Inc. $TVTX

Key Points

• Lisanti Capital Growth LLC initiated a $6.76 million position in Travere Therapeutics, purchasing 119,005 shares, or approximately 0.13% of the company.
• Analyst sentiment is broadly positive, with 10 Buy ratings, two Holds and one Sell; the stock has an average “Moderate Buy” rating and a consensus price target of $61.67.
• Travere reported better-than-expected quarterly results, including revenue of $169.58 million—up 48.2% year over year—and an adjusted loss of $0.10 per share versus the $0.13 expected.

Lisanti Capital Growth LLC bought a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 119,005 shares of the company's stock, valued at approximately $6,761,000. Travere Therapeutics makes up about 1.5% of Lisanti Capital Growth LLC's holdings, making the stock its 17th biggest holding. Lisanti Capital Growth LLC owned about 0.13% of Travere Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of Travere Therapeutics during the 2nd quarter valued at $33,000. GAMMA Investing LLC grew its position in Travere Therapeutics by 53.4% during the second quarter. GAMMA Investing LLC now owns 606 shares of the company's stock worth $34,000 after buying an additional 211 shares in the last quarter. Fifth Third Bancorp purchased a new stake in shares of Travere Therapeutics in the 1st quarter valued at about $35,000. State of Wyoming purchased a new stake in shares of Travere Therapeutics in the 4th quarter valued at about $37,000. Finally, Torren Management LLC purchased a new position in shares of Travere Therapeutics during the fourth quarter worth about $38,000.

Wall Street Analysts Forecast Growth

TVTX has been the subject of several research analyst reports. Guggenheim lifted their target price on shares of Travere Therapeutics from $65.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. HC Wainwright raised their price objective on shares of Travere Therapeutics from $57.00 to $67.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Piper Sandler reaffirmed an "overweight" rating on shares of Travere Therapeutics in a report on Monday. Evercore set a $78.00 target price on shares of Travere Therapeutics in a research report on Monday, August 10th. Finally, Weiss Ratings cut Travere Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 23rd. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $61.67.

Insider Buying and Selling at Travere Therapeutics

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

Travere Therapeutics Stock Up 3.2%

Shares of TVTX opened at $65.96 on Thursday. Travere Therapeutics, Inc. has a 1 year low of $17.05 and a 1 year high of $66.24. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.99. The stock has a 50 day simple moving average of $57.53 and a two-hundred day simple moving average of $43.22. The firm has a market cap of $6.22 billion, a P/E ratio of -143.39 and a beta of 1.12.

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 firm 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 business's revenue was up 48.2% compared to the same quarter last year. During the same period last year, the firm posted $0.13 earnings per share. On average, analysts forecast that Travere Therapeutics, Inc. will post -0.56 earnings per share for the current fiscal year.

Travere Therapeutics Company Profile

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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