Travere Therapeutics, Inc. $TVTX Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC has reduced its stake in Travere Therapeutics by 17.8%, now holding approximately $2.60 million worth of shares.
• The company reported a revenue of $94.84 million in its last quarter, a year-over-year increase of 111.5%, but fell short of analysts' estimates.
• Wall Street analysts currently show a mixed outlook with a majority rating the stock as a "buy" while the average target price is set at $33.43.

Rafferty Asset Management LLC cut its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 17.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 145,021 shares of the company's stock after selling 31,404 shares during the period. Rafferty Asset Management LLC owned approximately 0.16% of Travere Therapeutics worth $2,599,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC increased its stake in shares of Travere Therapeutics by 608.1% during the 4th quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company's stock worth $38,637,000 after purchasing an additional 1,904,733 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Travere Therapeutics by 36.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company's stock worth $37,875,000 after purchasing an additional 583,836 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Travere Therapeutics during the 4th quarter worth approximately $21,075,000. Nuveen LLC purchased a new position in shares of Travere Therapeutics during the 1st quarter worth approximately $21,569,000. Finally, Emerald Mutual Fund Advisers Trust increased its stake in shares of Travere Therapeutics by 1.8% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 1,121,886 shares of the company's stock worth $20,104,000 after purchasing an additional 20,112 shares in the last quarter.

Travere Therapeutics Stock Up 3.7%

Shares of NASDAQ:TVTX traded up $0.65 during midday trading on Tuesday, hitting $18.15. 2,150,312 shares of the company's stock traded hands, compared to its average volume of 1,653,112. 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 company has a market cap of $1.62 billion, a PE ratio of -8.90 and a beta of 0.78. The firm's fifty day moving average price is $16.42 and its two-hundred day moving average price is $17.35. Travere Therapeutics, Inc. has a twelve month low of $9.34 and a twelve month high of $25.29.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings results 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 net margin of 50.64% and a negative return on equity of 717.68%. The firm 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 firm posted ($0.65) EPS. The firm's quarterly revenue was up 111.5% on a year-over-year basis. On average, equities research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TVTX shares. Wedbush raised their target price on shares of Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Citigroup restated a "buy" rating on shares of Travere Therapeutics in a research report on Sunday, August 10th. HC Wainwright raised their target price on shares of Travere Therapeutics from $30.00 to $47.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Wall Street Zen upgraded shares of Travere Therapeutics from a "hold" rating to a "buy" rating in a research report on Monday. Finally, Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.43.

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.