Travere Therapeutics, Inc. $TVTX Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its stake in Travere Therapeutics by 166.8%, owning over 1.1 million shares valued at approximately $16.3 million.
• Analysts have mixed ratings on Travere Therapeutics, with thirteen analysts
• Despite a 111.5% year-over-year revenue increase, Travere Therapeutics reported a loss of $0.14 EPS for the recent quarter, exceeding analyst expectations but indicating ongoing challenges.

Assenagon Asset Management S.A. grew its position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 166.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,103,075 shares of the company's stock after acquiring an additional 689,561 shares during the quarter. Assenagon Asset Management S.A. owned about 1.24% of Travere Therapeutics worth $16,326,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TVTX. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Travere Therapeutics during the first quarter worth $182,000. Polar Asset Management Partners Inc. acquired a new stake in shares of Travere Therapeutics during the first quarter worth $304,000. Wellington Management Group LLP acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth $583,000. Northern Trust Corp lifted its holdings in shares of Travere Therapeutics by 7.2% during the first quarter. Northern Trust Corp now owns 808,687 shares of the company's stock worth $14,492,000 after purchasing an additional 54,292 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Travere Therapeutics by 7.9% during the first quarter. Bank of New York Mellon Corp now owns 233,942 shares of the company's stock worth $4,192,000 after purchasing an additional 17,079 shares during the period.

Analyst Ratings Changes

Several research firms have issued reports on TVTX. Stifel Nicolaus increased their price objective on Travere Therapeutics from $20.00 to $25.00 and gave the stock a "hold" rating in a research report on Friday, September 12th. Wells Fargo & Company increased their price objective on Travere Therapeutics from $27.00 to $35.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. Scotiabank reiterated an "outperform" rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. Wall Street Zen cut Travere Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Citigroup reiterated a "buy" rating on shares of Travere Therapeutics in a research report on Sunday, August 10th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $34.20.

Travere Therapeutics Stock Performance

NASDAQ TVTX opened at $25.43 on Tuesday. The firm has a market capitalization of $2.27 billion, a P/E ratio of -12.47 and a beta of 0.78. Travere Therapeutics, Inc. has a 1-year low of $12.91 and a 1-year high of $28.69. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98. The business's 50-day simple moving average is $18.67 and its 200-day simple moving average is $17.54.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.14. The firm had revenue of $94.84 million for the quarter, compared to analyst estimates of $100.18 million. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.Travere Therapeutics's revenue for the quarter was up 111.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.65) EPS. Equities analysts predict that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Travere Therapeutics 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.

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