Travere Therapeutics, Inc. $TVTX Shares Sold by Woodline Partners LP

Key Points

• Woodline Partners LP has reduced its holdings in Travere Therapeutics, Inc. by 41.8%, selling 884,278 shares and retaining 1,229,778 shares after the sale.
• Travere Therapeutics reported earnings per share (EPS) of ($0.14) for the most recent quarter, exceeding estimates, with revenue of $94.84 million, a 111.5% increase year-over-year.
• Analysts have a consensus rating of "Moderate Buy" for Travere Therapeutics, with an average target price of $33.53.

Woodline Partners LP decreased its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 41.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,229,778 shares of the company's stock after selling 884,278 shares during the quarter. Woodline Partners LP owned about 1.38% of Travere Therapeutics worth $22,038,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GF Fund Management CO. LTD. bought a new stake in Travere Therapeutics in the fourth quarter worth about $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Travere Therapeutics in the 1st quarter worth $62,000. KBC Group NV bought a new position in Travere Therapeutics during the 1st quarter worth about $75,000. Twinbeech Capital LP bought a new position in shares of Travere Therapeutics during the fourth quarter valued at approximately $177,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Travere Therapeutics in the first quarter worth approximately $182,000.

Travere Therapeutics Price Performance

TVTX traded down $1.53 on Friday, hitting $23.47. 2,942,088 shares of the company's stock were exchanged, compared to its average volume of 2,571,546. Travere Therapeutics, Inc. has a fifty-two week low of $12.57 and a fifty-two week high of $28.69. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of -11.50 and a beta of 0.79. The firm has a 50-day moving average price of $17.72 and a 200-day moving average price of $17.38. The company has a current ratio of 2.00, a quick ratio of 1.98 and a debt-to-equity ratio of 9.50.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on TVTX. HC Wainwright reaffirmed a "buy" rating and issued a $47.00 price target on shares of Travere Therapeutics in a report on Wednesday. Citigroup restated a "buy" rating on shares of Travere Therapeutics in a research note on Sunday, August 10th. Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a research note on Thursday, August 7th. Wells Fargo & Company raised their price target on shares of Travere Therapeutics from $27.00 to $35.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Wall Street Zen raised shares of Travere Therapeutics from a "hold" rating to a "buy" rating in a report on Monday, September 1st. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $34.20.

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.