Voya Investment Management LLC Purchases 27,133 Shares of Travere Therapeutics, Inc. $TVTX

Voya Investment Management LLC increased its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 16.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 194,854 shares of the company’s stock after purchasing an additional 27,133 shares during the quarter. Voya Investment Management LLC’s holdings in Travere Therapeutics were worth $4,657,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TVTX. Raymond James Financial Inc. acquired a new position in Travere Therapeutics during the second quarter worth approximately $33,000. Headlands Technologies LLC acquired a new stake in shares of Travere Therapeutics in the second quarter valued at approximately $73,000. Atria Investments Inc bought a new position in shares of Travere Therapeutics during the 2nd quarter worth approximately $154,000. Gallagher Fiduciary Advisors LLC acquired a new position in shares of Travere Therapeutics during the 2nd quarter worth approximately $155,000. Finally, Corton Capital Inc. bought a new stake in Travere Therapeutics in the 2nd quarter valued at $159,000.

Insider Buying and Selling

In other news, CEO Eric M. Dube sold 27,128 shares of Travere Therapeutics stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $30.12, for a total value of $817,095.36. Following the completion of the sale, the chief executive officer directly owned 419,173 shares in the company, valued at approximately $12,625,490.76. The trade was a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sandra Calvin sold 67,115 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $36.00, for a total value of $2,416,140.00. Following the sale, the chief accounting officer directly owned 48,545 shares in the company, valued at $1,747,620. This represents a 58.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 233,368 shares of company stock valued at $7,660,972 in the last quarter. Corporate insiders own 4.19% of the company’s stock.

Travere Therapeutics Trading Up 14.8%

Shares of Travere Therapeutics stock opened at $40.60 on Friday. The firm has a 50-day moving average of $33.89 and a 200-day moving average of $24.13. The stock has a market cap of $3.63 billion, a PE ratio of -38.30 and a beta of 0.89. Travere Therapeutics, Inc. has a 52-week low of $12.91 and a 52-week high of $42.13. The company has a debt-to-equity ratio of 4.23, a quick ratio of 2.71 and a current ratio of 2.75.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.59. The business had revenue of $164.86 million for the quarter, compared to analyst estimates of $106.09 million. Travere Therapeutics had a negative net margin of 20.32% and a negative return on equity of 178.68%. Travere Therapeutics’s revenue for the quarter was up 162.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.70) earnings per share. As a group, sell-side analysts forecast that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TVTX shares. Wells Fargo & Company raised their price target on Travere Therapeutics from $27.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Jefferies Financial Group set a $35.00 price objective on shares of Travere Therapeutics in a research report on Wednesday, September 10th. Zacks Research cut shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. TD Cowen upped their price target on shares of Travere Therapeutics from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Stifel Nicolaus increased their price target on shares of Travere Therapeutics from $20.00 to $25.00 and gave the company a “hold” rating in a report on Friday, September 12th. Thirteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.71.

About Travere Therapeutics

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.