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

Northern Trust Corp lifted its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 11.3% during the fourth quarter, according to its most recent disclosure 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 approximately 0.97% of Travere Therapeutics worth $13,142,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Sterling Capital Management LLC increased its position in shares of Travere Therapeutics by 859.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock worth $41,000 after acquiring an additional 2,115 shares in the last quarter. R Squared Ltd acquired a new stake in Travere Therapeutics in the 4th quarter worth about $53,000. Summit Investment Advisors Inc. increased its holdings in Travere Therapeutics by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company's stock valued at $138,000 after buying an additional 667 shares during the period. Victory Capital Management Inc. bought a new position in Travere Therapeutics in the 4th quarter valued at about $182,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of Travere Therapeutics during the 4th quarter valued at approximately $192,000.

Travere Therapeutics Stock Down 2.8%

Shares of NASDAQ TVTX traded down $0.49 during midday trading on Wednesday, reaching $17.08. 76,375 shares of the company's stock were exchanged, compared to its average volume of 1,563,683. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The stock has a market capitalization of $1.52 billion, a PE ratio of -4.17 and a beta of 0.88. Travere Therapeutics, Inc. has a 52-week low of $6.14 and a 52-week high of $25.29. The business's fifty day moving average price is $18.17 and its two-hundred day moving average price is $18.90.

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

Insider Buying and Selling

In other Travere Therapeutics news, CEO Eric M. Dube sold 18,924 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $398,350.20. Following the transaction, the chief executive officer now owns 419,173 shares of the company's stock, valued at $8,823,591.65. The trade was a 4.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Peter Heerma sold 1,771 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $37,279.55. Following the sale, the insider now owns 128,215 shares of the company's stock, valued at approximately $2,698,925.75. This represents a 1.36% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,527 shares of company stock worth $473,814. Corporate insiders own 4.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Cantor Fitzgerald restated an "overweight" rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. raised their target price on shares of Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Wedbush restated an "outperform" rating and issued a $30.00 target price on shares of Travere Therapeutics in a report on Friday, May 16th. Finally, Citigroup reaffirmed a "buy" rating on shares of Travere Therapeutics in a research report on Friday. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $31.79.

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.