Travere Therapeutics, Inc. (NASDAQ:TVTX) Shares Purchased by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC increased its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,117,792 shares of the company's stock after purchasing an additional 31,725 shares during the quarter. Travere Therapeutics accounts for 2.6% of Parkman Healthcare Partners LLC's portfolio, making the stock its 12th biggest holding. Parkman Healthcare Partners LLC owned about 1.43% of Travere Therapeutics worth $19,472,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TVTX. Entropy Technologies LP bought a new position in Travere Therapeutics in the fourth quarter valued at about $214,000. US Bancorp DE grew its position in shares of Travere Therapeutics by 323.4% during the fourth quarter. US Bancorp DE now owns 31,795 shares of the company's stock worth $554,000 after purchasing an additional 24,286 shares in the last quarter. Northern Trust Corp grew its position in shares of Travere Therapeutics by 11.3% during the fourth quarter. Northern Trust Corp now owns 754,395 shares of the company's stock worth $13,142,000 after purchasing an additional 76,358 shares in the last quarter. Swiss National Bank grew its holdings in Travere Therapeutics by 12.8% during the 4th quarter. Swiss National Bank now owns 151,900 shares of the company's stock valued at $2,646,000 after buying an additional 17,200 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in Travere Therapeutics during the 4th quarter valued at approximately $14,222,000.

Insider Activity

In other Travere Therapeutics news, CFO Christopher R. Cline sold 1,784 shares of the 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 $37,553.20. Following the transaction, the chief financial officer now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric M. Dube sold 18,924 shares of the 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 $398,350.20. Following the transaction, the chief executive officer now owns 419,173 shares in the company, valued at $8,823,591.65. This represents a 4.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,527 shares of company stock valued at $473,814. Company insiders own 4.19% of the company's stock.

Wall Street Analysts Forecast Growth

TVTX has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Travere Therapeutics from $42.00 to $44.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Canaccord Genuity Group lifted their target price on Travere Therapeutics from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, April 10th. Citigroup restated a "buy" rating on shares of Travere Therapeutics in a report on Friday. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. Finally, Guggenheim reaffirmed a "buy" rating and set a $47.00 target price on shares of Travere Therapeutics in a research report on Monday, April 14th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $31.79.

Travere Therapeutics Stock Up 2.4%

NASDAQ:TVTX traded up $0.40 during mid-day trading on Monday, hitting $17.20. 942,623 shares of the company's stock traded hands, compared to its average volume of 1,730,759. The company has a fifty day moving average of $18.25 and a 200 day moving average of $18.92. Travere Therapeutics, Inc. has a twelve month low of $6.01 and a twelve month high of $25.29. The company has a market capitalization of $1.53 billion, a P/E ratio of -4.20 and a beta of 0.88. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

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

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.