Sphera Funds Management LTD. Purchases 50,000 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Sphera Funds Management LTD. raised its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 29.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 220,700 shares of the company's stock after acquiring an additional 50,000 shares during the quarter. Sphera Funds Management LTD. owned 0.28% of Travere Therapeutics worth $3,845,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Rafferty Asset Management LLC lifted its stake in Travere Therapeutics by 92.2% during the fourth quarter. Rafferty Asset Management LLC now owns 176,425 shares of the company's stock valued at $3,073,000 after purchasing an additional 84,654 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Travere Therapeutics by 37.4% during the 4th quarter. ProShare Advisors LLC now owns 25,347 shares of the company's stock valued at $442,000 after acquiring an additional 6,896 shares during the last quarter. Parkman Healthcare Partners LLC lifted its position in shares of Travere Therapeutics by 2.9% during the 4th quarter. Parkman Healthcare Partners LLC now owns 1,117,792 shares of the company's stock valued at $19,472,000 after acquiring an additional 31,725 shares during the last quarter. Man Group plc grew its holdings in shares of Travere Therapeutics by 246.8% in the 4th quarter. Man Group plc now owns 88,241 shares of the company's stock worth $1,537,000 after acquiring an additional 62,798 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Travere Therapeutics by 446.2% during the fourth quarter. Millennium Management LLC now owns 626,056 shares of the company's stock worth $10,906,000 after purchasing an additional 511,443 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TVTX shares. JPMorgan Chase & Co. lifted their price target on Travere Therapeutics from $42.00 to $44.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Cantor Fitzgerald reissued an "overweight" rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. Stifel Nicolaus upped their price target on shares of Travere Therapeutics from $22.00 to $23.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. Bank of America raised their price objective on shares of Travere Therapeutics from $29.00 to $31.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. Finally, Citigroup reissued a "buy" rating on shares of Travere Therapeutics in a research note on Friday, May 16th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Travere Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $31.79.

Travere Therapeutics Stock Down 6.0%

NASDAQ:TVTX traded down $1.06 during mid-day trading on Wednesday, reaching $16.51. The stock had a trading volume of 699,206 shares, compared to its average volume of 1,566,077. The stock has a market cap of $1.47 billion, a P/E ratio of -4.03 and a beta of 0.88. The business's 50 day moving average is $18.17 and its 200 day moving average is $18.90. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. Travere Therapeutics, Inc. has a fifty-two week low of $6.14 and a fifty-two week high of $25.29.

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

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 18,924 shares of the company'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 completion of the sale, the chief executive officer now owns 419,173 shares of the company's stock, valued at $8,823,591.65. This represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher R. Cline sold 1,784 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $37,553.20. Following the completion of the sale, the chief financial officer now directly owns 93,126 shares in the company, valued at approximately $1,960,302.30. This represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,527 shares of company stock valued at $473,814. Insiders own 4.19% of the company's stock.

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.