Travere Therapeutics, Inc. $TVTX Shares Sold by Emerald Advisers LLC

Key Points

• Emerald Advisers LLC trimmed its Travere Therapeutics stake by 2.3% in the first quarter, though it still held 1.56 million shares worth about $46.3 million and made TVTX its 12th-largest holding.
• Analysts remain mostly bullish on Travere Therapeutics after several price-target hikes from firms including TD Cowen, Citi, Wells Fargo and HC Wainwright. The stock now carries a consensus rating of “Moderate Buy” with a $52.08 average price target.
• Insider selling has been notable, with CEO Eric M. Dube and Director Timothy Coughlin both selling shares, and insiders selling 195,330 shares total over the last 90 days. Despite that, Travere posted better-than-expected quarterly EPS and 55.6% revenue growth year over year.

Emerald Advisers LLC decreased its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,557,196 shares of the company's stock after selling 36,988 shares during the period. Travere Therapeutics makes up 1.5% of Emerald Advisers LLC's investment portfolio, making the stock its 12th largest holding. Emerald Advisers LLC owned 1.69% of Travere Therapeutics worth $46,264,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Travere Therapeutics during the second quarter worth about $33,000. Fifth Third Bancorp acquired a new stake in shares of Travere Therapeutics during the 1st quarter valued at approximately $35,000. State of Wyoming acquired a new stake in shares of Travere Therapeutics during the 4th quarter valued at approximately $37,000. Torren Management LLC purchased a new stake in shares of Travere Therapeutics during the 4th quarter worth approximately $38,000. Finally, Comerica Bank boosted its stake in shares of Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company's stock worth $43,000 after acquiring an additional 492 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. TD Cowen raised their price objective on Travere Therapeutics from $45.00 to $60.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Citigroup boosted their target price on Travere Therapeutics from $62.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, June 15th. Weiss Ratings lowered Travere Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, June 23rd. Wells Fargo & Company raised their price target on Travere Therapeutics from $50.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, June 12th. Finally, HC Wainwright raised their price target on Travere Therapeutics from $57.00 to $67.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Travere Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.08.

Insider Buying and Selling

In related news, CEO Eric M. Dube sold 64,000 shares of the business's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $41.09, for a total value of $2,629,760.00. Following the completion of the transaction, the chief executive officer owned 432,886 shares of the company's stock, valued at approximately $17,787,285.74. The trade was a 12.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.07, for a total transaction of $500,700.00. Following the completion of the transaction, the director owned 56,250 shares in the company, valued at approximately $2,816,437.50. This trade represents a 15.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 195,330 shares of company stock valued at $8,517,486. Company insiders own 4.44% of the company's stock.

Travere Therapeutics Trading Down 0.5%

Shares of TVTX opened at $56.29 on Tuesday. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08. The firm has a 50 day simple moving average of $49.97 and a 200-day simple moving average of $38.44. Travere Therapeutics, Inc. has a 1-year low of $15.03 and a 1-year high of $60.10. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of -244.73 and a beta of 1.10.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.29. The firm had revenue of $127.20 million during the quarter, compared to the consensus estimate of $136.23 million. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The company's quarterly revenue was up 55.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.47) EPS. Equities analysts forecast that Travere Therapeutics, Inc. will post -0.25 EPS for the current fiscal year.

About Travere Therapeutics

Travere Therapeutics, Inc NASDAQ: TVTX is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company's mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company's lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.

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