16,958 Shares in Travere Therapeutics, Inc. $TVTX Bought by Polar Asset Management Partners Inc.

Key Points

• Polar Asset Management Partners Inc. has acquired a new stake in Travere Therapeutics, acquiring 16,958 shares valued at approximately $304,000 during the first quarter.
• Several analysts have a positive outlook on Travere Therapeutics, with thirteen analysts rating it as a "buy" and a consensus target price of $33.43.
• In its latest earnings report, Travere Therapeutics exceeded expectations with $94.84 million in revenue, a 111.5% increase from the same quarter last year.

Polar Asset Management Partners Inc. acquired a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 16,958 shares of the company's stock, valued at approximately $304,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Arizona State Retirement System raised its holdings in shares of Travere Therapeutics by 4.3% in the 1st quarter. Arizona State Retirement System now owns 23,364 shares of the company's stock valued at $419,000 after buying an additional 968 shares during the period. E Fund Management Co. Ltd. grew its stake in Travere Therapeutics by 8.6% during the 1st quarter. E Fund Management Co. Ltd. now owns 13,553 shares of the company's stock worth $243,000 after purchasing an additional 1,072 shares in the last quarter. Diversified Trust Co grew its stake in Travere Therapeutics by 8.6% during the 1st quarter. Diversified Trust Co now owns 15,959 shares of the company's stock worth $286,000 after purchasing an additional 1,258 shares in the last quarter. Oak Ridge Investments LLC boosted its position in shares of Travere Therapeutics by 2.8% during the 1st quarter. Oak Ridge Investments LLC now owns 54,070 shares of the company's stock worth $969,000 after acquiring an additional 1,471 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in shares of Travere Therapeutics during the 4th quarter worth about $31,000.

Travere Therapeutics Trading Down 7.0%

Shares of TVTX stock traded down $1.74 during mid-day trading on Friday, hitting $23.26. 1,533,044 shares of the company's stock were exchanged, compared to its average volume of 1,763,717. Travere Therapeutics, Inc. has a fifty-two week low of $12.57 and a fifty-two week high of $28.69. The stock has a 50-day simple moving average of $17.55 and a two-hundred day simple moving average of $17.38. The company has a quick ratio of 1.98, a current ratio of 2.00 and a debt-to-equity ratio of 9.50. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -11.42 and a beta of 0.79.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $94.84 million for the quarter, compared to analysts' expectations of $100.18 million. During the same quarter last year, the firm earned ($0.65) earnings per share. The business's revenue was up 111.5% on a year-over-year basis. Equities analysts expect that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TVTX. HC Wainwright reissued a "buy" rating and issued a $47.00 target price on shares of Travere Therapeutics in a research report on Wednesday. Wedbush upped their price objective on Travere Therapeutics from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Scotiabank reissued an "outperform" rating on shares of Travere Therapeutics in a research note on Thursday, August 7th. Wells Fargo & Company increased their target price on Travere Therapeutics from $27.00 to $35.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Stifel Nicolaus upped their price target on Travere Therapeutics from $20.00 to $25.00 and gave the stock a "hold" rating in a report on Friday. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Travere Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $34.20.

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.