Jefferies Financial Group Inc. Invests $1.65 Million in Travere Therapeutics, Inc. $TVTX

Jefferies Financial Group Inc. bought a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 29,037 shares of the company’s stock, valued at approximately $1,650,000.

Other large investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Travere Therapeutics by 13.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,777 shares of the company’s stock valued at $1,029,000 after acquiring an additional 6,831 shares during the period. Norges Bank acquired a new position in Travere Therapeutics in the 2nd quarter worth about $1,051,000. First Trust Advisors LP purchased a new position in Travere Therapeutics during the second quarter worth approximately $3,538,000. Cresset Asset Management LLC raised its position in Travere Therapeutics by 26.5% during the second quarter. Cresset Asset Management LLC now owns 28,875 shares of the company’s stock worth $427,000 after acquiring an additional 6,047 shares during the period. Finally, Qube Research & Technologies Ltd lifted its holdings in Travere Therapeutics by 106.2% during the second quarter. Qube Research & Technologies Ltd now owns 604,128 shares of the company’s stock valued at $8,941,000 after purchasing an additional 311,137 shares in the last quarter.

Insiders Place Their Bets

In other news, Director Roy D. Baynes sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $50.00, for a total transaction of $225,000.00. Following the completion of the sale, the director owned 41,500 shares in the company, valued at $2,075,000. This represents a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of Travere Therapeutics stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $50.07, for a total value of $500,700.00. Following the completion of the sale, the director directly owned 56,250 shares in the company, valued at $2,816,437.50. This represents a 15.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.44% of the stock is owned by corporate insiders.

Travere Therapeutics Trading Down 2.7%

NASDAQ TVTX opened at $65.67 on Friday. Travere Therapeutics, Inc. has a one year low of $17.27 and a one year high of $67.85. The firm has a 50 day simple moving average of $59.34 and a 200-day simple moving average of $44.84. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of -142.76 and a beta of 1.12. The company has a debt-to-equity ratio of 24.58, a quick ratio of 3.99 and a current ratio of 4.05.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.03. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The firm had revenue of $169.58 million for the quarter, compared to analyst estimates of $157.27 million. During the same period in the prior year, the firm earned $0.13 earnings per share. The business’s quarterly revenue was up 48.2% compared to the same quarter last year. Equities research analysts anticipate that Travere Therapeutics, Inc. will post -0.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. HC Wainwright upped their target price on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Evercore set a $78.00 price objective on shares of Travere Therapeutics in a research note on Monday, August 10th. Piper Sandler reissued an “overweight” rating on shares of Travere Therapeutics in a research note on Monday, August 17th. Citigroup boosted their target price on Travere Therapeutics from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Guggenheim increased their price target on shares of Travere Therapeutics from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $61.67.

Travere Therapeutics Company 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.