Charles Schwab Investment Management Inc. Has $12.27 Million Stock Position in Travere Therapeutics, Inc. $TVTX

Key Points

• Charles Schwab Investment Management Inc. has increased its stake in Travere Therapeutics by 3.5%, owning 684,543 shares valued at approximately $12.27 million as of the last quarter.
• Travere Therapeutics reported a 111.5% year-over-year revenue increase for the last quarter, although it posted a loss of ($0.14) earnings per share, exceeding analyst expectations.
• Thirteen research analysts have assigned a Moderate Buy rating to Travere Therapeutics, with an average target price of $32.21 reflecting strong market confidence.

Charles Schwab Investment Management Inc. boosted its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 3.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 684,543 shares of the company's stock after purchasing an additional 22,940 shares during the period. Charles Schwab Investment Management Inc. owned about 0.77% of Travere Therapeutics worth $12,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. GF Fund Management CO. LTD. acquired a new stake in shares of Travere Therapeutics during the 4th quarter worth approximately $31,000. KBC Group NV acquired a new position in Travere Therapeutics during the first quarter worth about $75,000. Gen Wealth Partners Inc acquired a new position in Travere Therapeutics in the 4th quarter valued at $73,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Travere Therapeutics in the 1st quarter valued at $182,000. Finally, Twinbeech Capital LP purchased a new position in shares of Travere Therapeutics in the 4th quarter valued at $177,000.

Travere Therapeutics Stock Performance

Travere Therapeutics stock traded up $0.43 on Thursday, hitting $17.87. The company's stock had a trading volume of 2,274,567 shares, compared to its average volume of 1,641,899. The firm has a market cap of $1.59 billion, a P/E ratio of -8.76 and a beta of 0.74. The company has a quick ratio of 1.98, a current ratio of 2.00 and a debt-to-equity ratio of 9.50. The company has a fifty day moving average price of $16.23 and a 200-day moving average price of $17.54. Travere Therapeutics, Inc. has a one year low of $8.98 and a one year high of $25.29.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TVTX shares. HC Wainwright raised their price objective on shares of Travere Therapeutics from $30.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday. Citigroup reiterated a "buy" rating on shares of Travere Therapeutics in a research report on Sunday, August 10th. Wall Street Zen downgraded shares of Travere Therapeutics from a "buy" rating to a "hold" rating in a research report on Sunday. Wedbush lifted their price objective on shares of Travere Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Scotiabank reissued an "outperform" rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $33.43.

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.