AQR Capital Management LLC Sells 24,714 Shares of Travere Therapeutics, Inc. $TVTX

Key Points

• AQR Capital Management LLC has reduced its stake in Travere Therapeutics by 5.8%, now owning 399,310 shares valued at approximately $7.16 million.
• Travere Therapeutics reported a 111.5% increase in revenue year-over-year, with earnings per share beating estimates at ($0.14), despite a negative net margin of 50.64%.
• Analysts have set a consensus target price of $34.07 for Travere Therapeutics, with ratings ranging from "buy" to "outperform" from several investment firms.

AQR Capital Management LLC decreased its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 399,310 shares of the company's stock after selling 24,714 shares during the quarter. AQR Capital Management LLC owned 0.45% of Travere Therapeutics worth $7,156,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Northern Trust Corp lifted its position in Travere Therapeutics by 11.3% in the 4th quarter. Northern Trust Corp now owns 754,395 shares of the company's stock worth $13,142,000 after buying an additional 76,358 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Travere Therapeutics by 132.6% in the 4th quarter. Ameriprise Financial Inc. now owns 285,350 shares of the company's stock worth $4,971,000 after buying an additional 162,649 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Travere Therapeutics by 23.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,946 shares of the company's stock worth $869,000 after buying an additional 9,481 shares during the last quarter. Millennium Management LLC lifted its position in Travere Therapeutics by 446.2% in the 4th quarter. Millennium Management LLC now owns 626,056 shares of the company's stock worth $10,906,000 after buying an additional 511,443 shares during the last quarter. Finally, Man Group plc lifted its position in Travere Therapeutics by 246.8% in the 4th quarter. Man Group plc now owns 88,241 shares of the company's stock worth $1,537,000 after buying an additional 62,798 shares during the last quarter.

Travere Therapeutics Trading Up 3.9%

Shares of Travere Therapeutics stock traded up $0.88 during midday trading on Wednesday, reaching $23.65. 2,011,878 shares of the company's stock traded hands, compared to its average volume of 2,634,184. The company has a debt-to-equity ratio of 9.50, a quick ratio of 1.98 and a current ratio of 2.00. The company has a market cap of $2.11 billion, a PE ratio of -11.59 and a beta of 0.79. The stock has a 50 day moving average of $18.18 and a 200-day moving average of $17.45. Travere Therapeutics, Inc. has a 12 month low of $12.91 and a 12 month high of $28.69.

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

Analyst Ratings Changes

TVTX has been the subject of a number of recent research reports. Wall Street Zen upgraded Travere Therapeutics from a "hold" rating to a "buy" rating in a research report on Monday, September 1st. HC Wainwright restated a "buy" rating and issued a $47.00 target price on shares of Travere Therapeutics in a research report on Wednesday, September 10th. Citigroup reiterated a "buy" rating on shares of Travere Therapeutics in a research report on Sunday, August 10th. Stifel Nicolaus increased their price objective on Travere Therapeutics from $20.00 to $25.00 and gave the company a "hold" rating in a research note on Friday, September 12th. Finally, Wells Fargo & Company upped their price target on shares of Travere Therapeutics from $27.00 to $35.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. 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 $34.20.

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.