Invesco Ltd. Acquires 493,736 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Invesco Ltd. increased its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 135.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 858,942 shares of the company's stock after acquiring an additional 493,736 shares during the quarter. Invesco Ltd. owned 1.10% of Travere Therapeutics worth $14,963,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. R Squared Ltd acquired a new stake in shares of Travere Therapeutics during the 4th quarter valued at $53,000. Victory Capital Management Inc. purchased a new position in Travere Therapeutics in the fourth quarter valued at about $182,000. Baader Bank Aktiengesellschaft purchased a new position in Travere Therapeutics in the fourth quarter valued at about $192,000. Entropy Technologies LP acquired a new position in Travere Therapeutics in the 4th quarter worth about $214,000. Finally, E Fund Management Co. Ltd. purchased a new stake in shares of Travere Therapeutics during the 4th quarter worth about $217,000.

Travere Therapeutics Stock Performance

NASDAQ:TVTX traded up $0.53 during mid-day trading on Friday, hitting $18.16. 344,215 shares of the company's stock traded hands, compared to its average volume of 1,511,851. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The firm has a 50 day moving average of $18.34 and a two-hundred day moving average of $18.61. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -4.44 and a beta of 0.84. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $25.29.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.15). Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The company had revenue of $74.79 million during the quarter, compared to analyst estimates of $72.38 million. On average, equities analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TVTX shares. Cantor Fitzgerald restated an "overweight" rating on shares of Travere Therapeutics in a report on Wednesday. Evercore ISI increased their price target on shares of Travere Therapeutics from $33.00 to $45.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. HC Wainwright raised their price target on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Scotiabank reiterated an "outperform" rating on shares of Travere Therapeutics in a report on Friday, April 11th. Finally, Canaccord Genuity Group raised their target price on Travere Therapeutics from $45.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, April 10th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $32.08.

Insiders Place Their Bets

In other Travere Therapeutics news, insider Jula Inrig sold 4,207 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $20.12, for a total value of $84,644.84. Following the completion of the transaction, the insider now owns 85,236 shares of the company's stock, valued at $1,714,948.32. This represents a 4.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP William E. Rote sold 8,951 shares of Travere Therapeutics stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $19.78, for a total value of $177,050.78. Following the sale, the senior vice president now directly owns 95,719 shares in the company, valued at $1,893,321.82. The trade was a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 156,330 shares of company stock worth $3,507,377 in the last ninety days. Insiders own 3.75% 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.