Rafferty Asset Management LLC Purchases 84,654 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Rafferty Asset Management LLC boosted its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 92.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,425 shares of the company's stock after purchasing an additional 84,654 shares during the period. Rafferty Asset Management LLC owned approximately 0.23% of Travere Therapeutics worth $3,073,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Driehaus Capital Management LLC raised its stake in shares of Travere Therapeutics by 608.1% in the 4th quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company's stock valued at $38,637,000 after acquiring an additional 1,904,733 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Travere Therapeutics in the 4th quarter valued at $21,075,000. RA Capital Management L.P. purchased a new position in shares of Travere Therapeutics in the 4th quarter valued at $20,033,000. Jennison Associates LLC purchased a new position in shares of Travere Therapeutics in the 4th quarter valued at $14,222,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Travere Therapeutics by 36.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company's stock valued at $37,875,000 after acquiring an additional 583,836 shares during the period.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, insider Peter Heerma sold 1,771 shares of Travere Therapeutics stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $37,279.55. Following the transaction, the insider now owns 128,215 shares in the company, valued at $2,698,925.75. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eric M. Dube sold 18,924 shares of Travere Therapeutics stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $398,350.20. Following the completion of the transaction, the chief executive officer now owns 419,173 shares in the company, valued at approximately $8,823,591.65. This represents a 4.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,527 shares of company stock valued at $473,814 over the last quarter. 4.19% of the stock is owned by corporate insiders.

Travere Therapeutics Stock Down 5.5%

Shares of TVTX traded down $0.96 during mid-day trading on Wednesday, hitting $16.60. 1,570,967 shares of the company's stock were exchanged, compared to its average volume of 1,570,066. Travere Therapeutics, Inc. has a 52 week low of $6.14 and a 52 week high of $25.29. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The company has a 50-day simple moving average of $18.11 and a 200 day simple moving average of $18.89. The company has a market cap of $1.47 billion, a PE ratio of -4.05 and a beta of 0.88.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.08. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The business had revenue of $81.73 million during the quarter, compared to the consensus estimate of $77.44 million. During the same quarter last year, the firm posted ($1.76) EPS. The company's quarterly revenue was up 83.3% on a year-over-year basis. On average, research analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

TVTX has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised their price target on shares of Travere Therapeutics from $45.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, April 10th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Travere Therapeutics in a report on Wednesday, April 23rd. Evercore ISI raised their price target on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Citigroup reaffirmed a "buy" rating on shares of Travere Therapeutics in a report on Friday, May 16th. Finally, Bank of America raised their price target on shares of Travere Therapeutics from $29.00 to $31.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.79.

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.