Northern Trust Corp Has $13.14 Million Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Northern Trust Corp grew its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 11.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 754,395 shares of the company's stock after purchasing an additional 76,358 shares during the period. Northern Trust Corp owned about 0.97% of Travere Therapeutics worth $13,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in TVTX. Sterling Capital Management LLC boosted its position in Travere Therapeutics by 859.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock worth $41,000 after buying an additional 2,115 shares during the period. R Squared Ltd acquired a new stake in Travere Therapeutics during the 4th quarter worth approximately $53,000. Summit Investment Advisors Inc. boosted its position in Travere Therapeutics by 9.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company's stock worth $138,000 after buying an additional 667 shares during the period. Victory Capital Management Inc. acquired a new stake in Travere Therapeutics during the 4th quarter worth approximately $182,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in Travere Therapeutics during the 4th quarter worth approximately $192,000.

Analysts Set New Price Targets

Several research firms recently commented on TVTX. Citigroup lifted their target price on shares of Travere Therapeutics from $31.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. JPMorgan Chase & Co. lifted their target price on shares of Travere Therapeutics from $42.00 to $44.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. Wedbush restated an "outperform" rating and set a $30.00 price target on shares of Travere Therapeutics in a report on Friday, May 2nd. Finally, Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a report on Friday, April 11th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.79.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $21.15 on Friday. The company has a fifty day moving average of $18.28 and a 200-day moving average of $18.91. The firm has a market capitalization of $1.88 billion, a P/E ratio of -5.16 and a beta of 0.88. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a twelve month low of $6.01 and a twelve month high of $25.29.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.08. The company had revenue of $81.73 million during the quarter, compared to analyst estimates of $77.44 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. Travere Therapeutics's revenue for the quarter was up 83.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.76) EPS. As a group, sell-side analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Insider Activity

In related news, insider Peter Heerma sold 1,771 shares of Travere Therapeutics stock in a transaction on Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $37,279.55. Following the completion of the sale, the insider now owns 128,215 shares of the company's stock, valued at approximately $2,698,925.75. This trade represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Eric M. Dube sold 18,924 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $398,350.20. Following the sale, the chief executive officer now owns 419,173 shares of the company's stock, valued at $8,823,591.65. This trade represents a 4.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,527 shares of company stock worth $473,814 in the last quarter. 4.19% of the stock is owned by corporate insiders.

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.

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