Millennium Management LLC Buys 511,443 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Millennium Management LLC boosted its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 446.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 626,056 shares of the company's stock after buying an additional 511,443 shares during the period. Millennium Management LLC owned about 0.80% of Travere Therapeutics worth $10,906,000 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. R Squared Ltd acquired a new stake in Travere Therapeutics during the 4th quarter worth about $53,000. Baader Bank Aktiengesellschaft acquired a new stake in Travere Therapeutics during the 4th quarter worth about $192,000. China Universal Asset Management Co. Ltd. raised its holdings in Travere Therapeutics by 23.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,206 shares of the company's stock worth $317,000 after buying an additional 3,494 shares during the period. Jennison Associates LLC acquired a new stake in Travere Therapeutics during the 4th quarter worth about $14,222,000. Finally, abrdn plc acquired a new stake in Travere Therapeutics during the 4th quarter worth about $6,829,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Evercore ISI boosted their price objective on Travere Therapeutics from $33.00 to $45.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Citigroup reaffirmed a "buy" rating on shares of Travere Therapeutics in a research note on Friday, May 16th. Stifel Nicolaus increased their price target on shares of Travere Therapeutics from $22.00 to $23.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. upped their price objective on shares of Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Canaccord Genuity Group increased their target price on shares of Travere Therapeutics from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $31.79.

Insider Transactions at Travere Therapeutics

In other news, CFO Christopher R. Cline sold 1,784 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $37,553.20. Following the completion of the sale, the chief financial officer now directly owns 93,126 shares in the company, valued at approximately $1,960,302.30. The trade was a 1.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter Heerma sold 1,771 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $37,279.55. Following the sale, the insider now directly owns 128,215 shares of the company's stock, valued at approximately $2,698,925.75. This represents a 1.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,527 shares of company stock worth $473,814. 4.19% of the stock is owned by corporate insiders.

Travere Therapeutics Stock Up 1.8%

Shares of Travere Therapeutics stock traded up $0.27 during midday trading on Thursday, reaching $15.22. 322,398 shares of the company's stock traded hands, compared to its average volume of 1,576,452. 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 $6.49 and a 52 week high of $25.29. The company's 50 day simple moving average is $17.61 and its 200 day simple moving average is $18.80. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -3.72 and a beta of 0.88.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.47) EPS for the quarter, topping the consensus estimate 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 business posted ($1.76) earnings per share. The business's quarterly revenue was up 83.3% on a year-over-year basis. Equities analysts expect that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

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.