Parkman Healthcare Partners LLC Has $17.10 Million Stake in Travere Therapeutics, Inc. $TVTX

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 stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 14.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 954,071 shares of the company's stock after selling 163,721 shares during the period. Travere Therapeutics comprises about 2.0% of Parkman Healthcare Partners LLC's investment portfolio, making the stock its 15th biggest holding. Parkman Healthcare Partners LLC owned about 1.07% of Travere Therapeutics worth $17,097,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TVTX. GF Fund Management CO. LTD. acquired a new stake in Travere Therapeutics during the fourth quarter worth about $31,000. Caitong International Asset Management Co. Ltd acquired a new stake in Travere Therapeutics during the first quarter worth about $62,000. KBC Group NV acquired a new stake in Travere Therapeutics during the first quarter worth about $75,000. Gen Wealth Partners Inc acquired a new stake in Travere Therapeutics during the fourth quarter worth about $73,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Travere Therapeutics during the first quarter worth about $182,000.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock traded down $0.24 on Tuesday, hitting $20.96. The company had a trading volume of 138,299 shares, compared to its average volume of 1,678,542. The company has a market cap of $1.87 billion, a PE ratio of -10.27 and a beta of 0.78. Travere Therapeutics, Inc. has a 52 week low of $11.89 and a 52 week high of $25.29. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98. The business has a 50-day simple moving average of $16.96 and a 200-day simple moving average of $17.26.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share 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 analysts' expectations of $100.18 million. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The firm's revenue for the quarter was up 111.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.65) earnings per share. Research analysts expect that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Travere Therapeutics from a "hold" rating to a "buy" rating in a research note on Monday, September 1st. Scotiabank reiterated an "outperform" rating on shares of Travere Therapeutics in a research note on Thursday, August 7th. Citigroup reiterated a "buy" rating on shares of Travere Therapeutics in a research note on Sunday, August 10th. HC Wainwright reiterated a "buy" rating and set a $47.00 price objective on shares of Travere Therapeutics in a research note on Wednesday, September 3rd. Finally, Wedbush raised their price target on shares of Travere Therapeutics from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $33.43.

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.