Travere Therapeutics, Inc. (NASDAQ:TVTX) Position Boosted by Rafferty Asset Management LLC

Rafferty Asset Management LLC raised its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 92.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 176,425 shares of the company's stock after purchasing an additional 84,654 shares during the period. Rafferty Asset Management LLC owned 0.23% of Travere Therapeutics worth $3,073,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TVTX. Sterling Capital Management LLC increased its position in Travere Therapeutics by 859.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock worth $41,000 after purchasing an additional 2,115 shares during the last quarter. R Squared Ltd acquired a new position in Travere Therapeutics during the fourth quarter worth approximately $53,000. Gen Wealth Partners Inc acquired a new position in Travere Therapeutics during the fourth quarter worth approximately $73,000. Summit Investment Advisors Inc. increased its position in Travere Therapeutics by 9.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company's stock worth $138,000 after purchasing an additional 667 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in Travere Therapeutics during the fourth quarter worth approximately $182,000.

Analysts Set New Price Targets

TVTX has been the subject of several research analyst reports. Guggenheim reaffirmed a "buy" rating and set a $47.00 price target on shares of Travere Therapeutics in a research report on Monday, April 14th. Scotiabank reissued an "outperform" rating on shares of Travere Therapeutics in a research report on Friday, April 11th. Citigroup reissued a "buy" rating on shares of Travere Therapeutics in a research report on Friday, May 16th. Cantor Fitzgerald reissued an "overweight" rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. Finally, Bank of America increased their price objective on shares of Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $31.79.

Travere Therapeutics Stock Up 0.9%

Shares of TVTX stock traded up $0.14 on Friday, hitting $15.84. The stock had a trading volume of 1,433,214 shares, compared to its average volume of 1,578,411. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -3.86 and a beta of 0.88. The stock's 50 day moving average is $17.93 and its 200-day moving average is $18.87. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. Travere Therapeutics, Inc. has a 52-week low of $6.30 and a 52-week high of $25.29.

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

Insider Buying and Selling at Travere Therapeutics

In related news, CEO Eric M. Dube sold 18,924 shares of the 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 sale, the chief executive officer now owns 419,173 shares of the company's stock, valued at $8,823,591.65. This trade represents a 4.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter Heerma sold 1,771 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $37,279.55. Following the transaction, the insider now directly owns 128,215 shares in the company, valued at approximately $2,698,925.75. The trade was a 1.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,527 shares of company stock worth $473,814 in the last ninety days. 4.19% of the stock is owned by insiders.

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.