Nuveen LLC Makes New Investment in Travere Therapeutics, Inc. $TVTX

Key Points

• Nuveen LLC has made a significant investment in Travere Therapeutics, acquiring 1,203,644 shares valued at approximately $21.57 million, representing a 1.36% ownership in the company.
• Travere Therapeutics has received multiple upgrades from analysts, with a consensus rating of "Moderate Buy" and an average price target of $32.21.
• The company's recent earnings report revealed a 111.5% increase in revenue year-over-year, although it reported a loss of ($0.14) EPS, beating expectations.

Nuveen LLC purchased a new position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,203,644 shares of the company's stock, valued at approximately $21,569,000. Nuveen LLC owned approximately 1.36% of Travere Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in TVTX. Invesco Ltd. boosted its holdings in Travere Therapeutics by 135.2% in the fourth quarter. Invesco Ltd. now owns 858,942 shares of the company's stock worth $14,963,000 after acquiring an additional 493,736 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Travere Therapeutics by 859.8% in the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock worth $41,000 after acquiring an additional 2,115 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Travere Therapeutics by 9.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company's stock worth $138,000 after purchasing an additional 667 shares during the last quarter. Barclays PLC boosted its position in Travere Therapeutics by 135.0% in the fourth quarter. Barclays PLC now owns 396,570 shares of the company's stock valued at $6,908,000 after buying an additional 227,802 shares during the last quarter. Finally, XTX Topco Ltd increased its holdings in Travere Therapeutics by 105.1% in the 4th quarter. XTX Topco Ltd now owns 29,133 shares of the company's stock worth $507,000 after buying an additional 14,928 shares during the period.

Analyst Upgrades and Downgrades

TVTX has been the topic of several research reports. Stifel Nicolaus increased their price target on shares of Travere Therapeutics from $22.00 to $23.00 and gave the stock a "hold" rating in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Travere Therapeutics from a "hold" rating to a "buy" rating in a report on Saturday. Wedbush increased their price target on shares of Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Travere Therapeutics in a report on Wednesday, April 23rd. Finally, Citigroup reiterated a "buy" rating on shares of Travere Therapeutics in a report on Sunday, August 10th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $32.21.

Travere Therapeutics Stock Down 0.3%

Travere Therapeutics stock opened at $18.77 on Tuesday. The stock has a market capitalization of $1.67 billion, a PE ratio of -9.20 and a beta of 0.74. Travere Therapeutics, Inc. has a 12 month low of $8.46 and a 12 month high of $25.29. The business has a 50 day simple moving average of $15.81 and a 200-day simple moving average of $17.66. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted 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 business had revenue of $94.84 million during the quarter, compared to analysts' expectations of $100.18 million. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%. The business's revenue was up 111.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.65) earnings per share. On average, analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

About Travere Therapeutics

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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