Northern Trust Corp Has $14.49 Million Stake in Travere Therapeutics, Inc. $TVTX

Key Points

• Northern Trust Corp increased its stake in Travere Therapeutics by 7.2%, owning 808,687 shares valued at approximately $14.49 million as of the last quarter.
• Several large investors, including Driehaus Capital Management and Millennium Management, made significant increases in their holdings during the fourth quarter, showing strong interest in Travere Therapeutics.
• Travere Therapeutics reported a quarterly net revenue increase of 111.5% year-over-year, despite a negative return on equity and losses per share that beat analyst expectations.

Northern Trust Corp grew its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 7.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 808,687 shares of the company's stock after acquiring an additional 54,292 shares during the period. Northern Trust Corp owned about 0.91% of Travere Therapeutics worth $14,492,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TVTX. Driehaus Capital Management LLC boosted its position in shares of Travere Therapeutics by 608.1% in the fourth quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company's stock worth $38,637,000 after buying an additional 1,904,733 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of Travere Therapeutics by 36.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company's stock worth $37,875,000 after buying an additional 583,836 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Travere Therapeutics in the fourth quarter worth $21,075,000. Nuveen LLC acquired a new stake in shares of Travere Therapeutics in the first quarter worth $21,569,000. Finally, Emerald Mutual Fund Advisers Trust boosted its position in shares of Travere Therapeutics by 1.8% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 1,121,886 shares of the company's stock worth $20,104,000 after buying an additional 20,112 shares during the period.

Travere Therapeutics Stock Up 2.3%

Shares of NASDAQ:TVTX traded up $0.49 during midday trading on Friday, hitting $21.64. 3,912,872 shares of the stock were exchanged, compared to its average volume of 1,761,887. The company has a debt-to-equity ratio of 9.50, a quick ratio of 1.98 and a current ratio of 2.00. Travere Therapeutics, Inc. has a 52-week low of $10.64 and a 52-week high of $25.29. The business's fifty day simple moving average is $16.83 and its two-hundred day simple moving average is $17.31. The company has a market capitalization of $1.93 billion, a PE ratio of -10.61 and a beta of 0.79.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.14. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The business had revenue of $94.84 million during the quarter, compared to analyst estimates of $100.18 million. During the same period last year, the company earned ($0.65) earnings per share. Travere Therapeutics's quarterly revenue was up 111.5% compared to the same quarter last year. As a group, research analysts predict that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Scotiabank reaffirmed an "outperform" rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. Wall Street Zen raised Travere Therapeutics from a "hold" rating to a "buy" rating in a research report on Monday, September 1st. HC Wainwright reaffirmed a "buy" rating and issued a $47.00 target price on shares of Travere Therapeutics in a research report on Wednesday. Wedbush increased their price objective on Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Finally, Citigroup reiterated a "buy" rating on shares of Travere Therapeutics in a report on Sunday, August 10th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.43.

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.