Travere Therapeutics, Inc. $TVTX Shares Sold by Parkman Healthcare Partners LLC

Key Points

• Parkman Healthcare Partners LLC has reduced its stake in Travere Therapeutics, Inc. by 14.6%, selling 163,721 shares, bringing its ownership down to approximately 954,071 shares.
• Several institutional investors, including Driehaus Capital Management LLC and Adage Capital Partners GP L.L.C., significantly increased their positions in Travere Therapeutics, indicating growing interest in the company.
• Analysts maintain a positive outlook on Travere Therapeutics, with thirteen analysts rating the stock as a "Buy" and setting an average price target of $33.43.

Parkman Healthcare Partners LLC decreased its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 14.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 954,071 shares of the company's stock after selling 163,721 shares during the period. Travere Therapeutics comprises approximately 2.0% of Parkman Healthcare Partners LLC's holdings, making the stock its 15th largest holding. Parkman Healthcare Partners LLC owned approximately 1.07% of Travere Therapeutics worth $17,097,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. GF Fund Management CO. LTD. bought a new stake in shares of Travere Therapeutics in the fourth quarter valued at about $31,000. Caitong International Asset Management Co. Ltd purchased a new position in Travere Therapeutics during the 1st quarter valued at about $62,000. KBC Group NV bought a new stake in shares of Travere Therapeutics in the 1st quarter valued at about $75,000. Gen Wealth Partners Inc purchased a new stake in shares of Travere Therapeutics in the 4th quarter worth approximately $73,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Travere Therapeutics in the 1st quarter worth approximately $182,000.

Travere Therapeutics Trading Down 8.5%

Shares of NASDAQ TVTX traded down $2.31 during trading on Thursday, hitting $25.00. 4,108,626 shares of the company were exchanged, compared to its average volume of 1,764,841. The company has a fifty day moving average price of $17.35 and a 200-day moving average price of $17.36. 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 firm has a market capitalization of $2.23 billion, a PE ratio of -12.25 and a beta of 0.79. Travere Therapeutics, Inc. has a 12-month low of $11.89 and a 12-month high of $28.69.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.28) by $0.14. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The company had revenue of $94.84 million for the quarter, compared to the consensus estimate of $100.18 million. During the same quarter in the previous year, the business earned ($0.65) earnings per share. The company's revenue for the quarter was up 111.5% on a year-over-year basis. As a group, equities research analysts expect that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TVTX shares. Scotiabank reissued an "outperform" rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. HC Wainwright reiterated a "buy" rating and set a $47.00 price objective on shares of Travere Therapeutics in a research note on Wednesday. Jefferies Financial Group set a $35.00 target price on Travere Therapeutics in a research report on Wednesday. Citigroup restated a "buy" rating on shares of Travere Therapeutics in a research report on Sunday, August 10th. Finally, Wells Fargo & Company upped their price objective on Travere Therapeutics from $27.00 to $35.00 and gave the stock an "overweight" rating in a research report on Thursday. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $34.07.

Travere Therapeutics Company 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.