BNP Paribas Financial Markets Increases Stake in Travere Therapeutics, Inc. $TVTX

BNP Paribas Financial Markets lifted its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 17.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 665,795 shares of the company’s stock after purchasing an additional 100,198 shares during the quarter. BNP Paribas Financial Markets’ holdings in Travere Therapeutics were worth $25,440,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TVTX. Intech Investment Management LLC grew its stake in Travere Therapeutics by 46.7% during the fourth quarter. Intech Investment Management LLC now owns 40,400 shares of the company’s stock valued at $1,544,000 after acquiring an additional 12,858 shares in the last quarter. Geode Capital Management LLC grew its stake in Travere Therapeutics by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 2,143,495 shares of the company’s stock valued at $81,915,000 after acquiring an additional 5,465 shares in the last quarter. Legal & General Group Plc grew its stake in Travere Therapeutics by 3.1% during the fourth quarter. Legal & General Group Plc now owns 536,925 shares of the company’s stock valued at $20,516,000 after acquiring an additional 16,333 shares in the last quarter. Lisanti Capital Growth LLC grew its stake in Travere Therapeutics by 6.9% during the fourth quarter. Lisanti Capital Growth LLC now owns 138,482 shares of the company’s stock valued at $5,291,000 after acquiring an additional 8,970 shares in the last quarter. Finally, Legato Capital Management LLC grew its stake in Travere Therapeutics by 23.2% during the fourth quarter. Legato Capital Management LLC now owns 87,536 shares of the company’s stock valued at $3,345,000 after acquiring an additional 16,506 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have commented on TVTX. Guggenheim increased their price objective on shares of Travere Therapeutics from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. reduced their price target on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. TD Cowen raised their price target on shares of Travere Therapeutics from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Wedbush reissued an “outperform” rating and set a $55.00 target price on shares of Travere Therapeutics in a research report on Wednesday. Finally, Citigroup boosted their price objective on shares of Travere Therapeutics from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.92.

Insider Activity

In other Travere Therapeutics news, insider Elizabeth E. Reed sold 2,076 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $43.95, for a total transaction of $91,240.20. Following the completion of the transaction, the insider directly owned 105,211 shares of the company’s stock, valued at approximately $4,624,023.45. This trade represents a 1.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Roy D. Baynes sold 4,500 shares of Travere Therapeutics stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $46.65, for a total transaction of $209,925.00. Following the sale, the director owned 37,500 shares of the company’s stock, valued at approximately $1,749,375. The trade was a 10.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 400,015 shares of company stock valued at $15,895,428. 4.44% of the stock is owned by insiders.

Travere Therapeutics Stock Up 2.2%

TVTX stock opened at $46.18 on Friday. The stock has a market capitalization of $4.29 billion, a PE ratio of -200.77 and a beta of 1.13. The company has a quick ratio of 3.08, a current ratio of 3.13 and a debt-to-equity ratio of 3.16. Travere Therapeutics, Inc. has a 52 week low of $13.88 and a 52 week high of $48.61. The firm has a 50 day moving average of $39.35 and a 200 day moving average of $34.71.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.29. The firm had revenue of $127.20 million for the quarter, compared to the consensus estimate of $136.23 million. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The firm’s revenue was up 55.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.47) EPS. Sell-side analysts forecast that Travere Therapeutics, Inc. will post -0.26 earnings per share for the current year.

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.