Woodline Partners LP Sells 884,278 Shares of Travere Therapeutics, Inc. $TVTX

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 trimmed its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 41.8% during the first quarter, according to its most recent filing with the Securities and 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 filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Arizona State Retirement System raised its holdings in shares of Travere Therapeutics by 4.3% in the 1st quarter. Arizona State Retirement System now owns 23,364 shares of the company's stock worth $419,000 after purchasing an additional 968 shares in the last quarter. E Fund Management Co. Ltd. raised its holdings in shares of Travere Therapeutics by 8.6% in the 1st quarter. E Fund Management Co. Ltd. now owns 13,553 shares of the company's stock worth $243,000 after purchasing an additional 1,072 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Travere Therapeutics by 8.6% in the 1st quarter. Diversified Trust Co now owns 15,959 shares of the company's stock worth $286,000 after purchasing an additional 1,258 shares in the last quarter. Oak Ridge Investments LLC raised its holdings in shares of Travere Therapeutics by 2.8% in the 1st quarter. Oak Ridge Investments LLC now owns 54,070 shares of the company's stock worth $969,000 after purchasing an additional 1,471 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Travere Therapeutics in the 4th quarter worth approximately $31,000.

Travere Therapeutics Stock Performance

Shares of NASDAQ TVTX traded down $0.15 during trading hours on Tuesday, hitting $22.86. 759,605 shares of the stock were exchanged, compared to its average volume of 1,768,337. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98. The company's 50 day moving average is $17.88 and its 200 day moving average is $17.37. The firm has a market capitalization of $2.04 billion, a P/E ratio of -11.22 and a beta of 0.78. Travere Therapeutics, Inc. has a one year low of $12.91 and a one year high of $28.69.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted 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. The business had revenue of $94.84 million during 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%. Travere Therapeutics's quarterly revenue was up 111.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.65) EPS. On average, research analysts expect that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Jefferies Financial Group set a $35.00 target price on shares of Travere Therapeutics in a report on Wednesday, September 10th. Wells Fargo & Company boosted their target price on shares of Travere Therapeutics from $27.00 to $35.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Wall Street Zen upgraded shares of Travere Therapeutics from a "hold" rating to a "buy" rating in a report on Monday, September 1st. Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a report on Thursday, August 7th. Finally, Stifel Nicolaus boosted their price target on shares of Travere Therapeutics from $20.00 to $25.00 and gave the company a "hold" rating in a report on Friday. 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, the company currently has an average rating of "Moderate Buy" and an average 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.