Stephens Investment Management Group LLC Acquires 121,955 Shares of Travere Therapeutics, Inc. $TVTX

Key Points

• Stephens Investment Management Group boosted its stake in Travere Therapeutics by 7.6% in the fourth quarter, buying 121,955 additional shares and bringing its total holding to 1,721,623 shares worth about $65.8 million.
• Travere Therapeutics reported better-than-expected earnings for the quarter, posting EPS of $0.05 versus the consensus estimate of -$0.24, while revenue rose 55.6% year over year to $127.2 million.
• Analyst sentiment remains constructive, with several firms raising price targets and 10 analysts rating the stock a Buy; the consensus view is currently Moderate Buy with an average target price of $47.83.

Stephens Investment Management Group LLC increased its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 7.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,721,623 shares of the company's stock after purchasing an additional 121,955 shares during the quarter. Stephens Investment Management Group LLC owned 1.92% of Travere Therapeutics worth $65,783,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of TVTX. Raymond James Financial Inc. bought a new stake in Travere Therapeutics during the 2nd quarter worth approximately $33,000. First Horizon Corp bought a new stake in Travere Therapeutics during the 3rd quarter worth approximately $36,000. Torren Management LLC bought a new stake in Travere Therapeutics during the 4th quarter worth approximately $38,000. Comerica Bank increased its stake in Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company's stock worth $43,000 after purchasing an additional 492 shares in the last quarter. Finally, Garner Asset Management Corp bought a new stake in Travere Therapeutics during the 4th quarter worth approximately $69,000.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Canaccord Genuity Group increased their target price on Travere Therapeutics from $47.00 to $56.00 and gave the stock a "buy" rating in a research note on Tuesday, April 14th. Piper Sandler raised Travere Therapeutics from a "neutral" rating to an "overweight" rating and set a $49.00 target price for the company in a research note on Tuesday, April 14th. Wedbush upped their price target on Travere Therapeutics from $53.00 to $55.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Guggenheim upped their price target on Travere Therapeutics from $54.00 to $56.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Finally, HC Wainwright upped their price target on Travere Therapeutics from $47.00 to $57.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $47.83.

Travere Therapeutics Trading Down 3.4%

NASDAQ:TVTX opened at $42.59 on Friday. Travere Therapeutics, Inc. has a twelve month low of $13.88 and a twelve month high of $48.61. The company has a quick ratio of 3.08, a current ratio of 3.13 and a debt-to-equity ratio of 3.16. The business has a 50 day moving average price of $34.53 and a two-hundred day moving average price of $33.56. The company has a market cap of $3.96 billion, a P/E ratio of -185.17 and a beta of 1.13.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of ($0.24) by $0.29. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The firm had revenue of $127.20 million during the quarter, compared to the consensus estimate of $136.23 million. During the same quarter in the prior year, the firm posted ($0.47) EPS. The business's revenue was up 55.6% on a year-over-year basis. As a group, analysts expect that Travere Therapeutics, Inc. will post -0.26 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Elizabeth E. Reed sold 2,076 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $43.95, for a total value of $91,240.20. Following the completion of the sale, the insider owned 105,211 shares of the company's stock, valued at approximately $4,624,023.45. This represents a 1.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jula Inrig sold 2,174 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $46.65, for a total value of $101,417.10. Following the completion of the sale, the insider directly owned 113,549 shares of the company's stock, valued at approximately $5,297,060.85. The trade was a 1.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 400,015 shares of company stock worth $15,895,428 in the last quarter. 4.44% of the stock is owned by company insiders.

Travere Therapeutics Profile

Travere Therapeutics, Inc NASDAQ: TVTX is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company's mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company's lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.

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