Hennion & Walsh Asset Management Inc. Increases Position in Travere Therapeutics, Inc. $TVTX

Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 169.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,229 shares of the company’s stock after acquiring an additional 62,419 shares during the quarter. Hennion & Walsh Asset Management Inc. owned 0.11% of Travere Therapeutics worth $3,792,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Travere Therapeutics in the 2nd quarter valued at $33,000. First Horizon Corp bought a new stake in shares of Travere Therapeutics during the 3rd quarter worth $36,000. Headlands Technologies LLC purchased a new position in shares of Travere Therapeutics in the 2nd quarter worth about $73,000. Gallagher Fiduciary Advisors LLC bought a new position in Travere Therapeutics during the second quarter valued at about $155,000. Finally, Quadrant Capital Group LLC bought a new position in Travere Therapeutics during the third quarter valued at about $158,000.

Travere Therapeutics Stock Performance

Shares of TVTX opened at $27.66 on Tuesday. Travere Therapeutics, Inc. has a 52-week low of $12.91 and a 52-week high of $42.13. The stock’s 50-day simple moving average is $29.07 and its 200 day simple moving average is $30.70. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.70 and a current ratio of 2.74. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -92.20 and a beta of 0.81.

Insider Transactions at Travere Therapeutics

In related news, CAO Sandra Calvin sold 4,333 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $32.12, for a total transaction of $139,175.96. Following the completion of the transaction, the chief accounting officer owned 49,080 shares of the company’s stock, valued at approximately $1,576,449.60. The trade was a 8.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Elizabeth E. Reed sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $28.09, for a total transaction of $280,900.00. Following the sale, the insider directly owned 105,211 shares in the company, valued at $2,955,376.99. This trade represents a 8.68% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 234,543 shares of company stock valued at $7,368,175. Company insiders own 4.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on TVTX. Piper Sandler lifted their price objective on shares of Travere Therapeutics from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Guggenheim restated a “buy” rating and set a $49.00 price target on shares of Travere Therapeutics in a research note on Wednesday, January 14th. JPMorgan Chase & Co. lowered their price target on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Finally, Wall Street Zen lowered Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Eleven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.38.

Travere Therapeutics Profile

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.