VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 27,000 Travere Therapeutics, Inc. $TVTX

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the second quarter, Holdings Channel.com reports. The fund purchased 27,000 shares of the company’s stock, valued at approximately $1,534,000.

Other hedge funds have also made changes to their positions in the company. California State Teachers Retirement System raised its holdings in Travere Therapeutics by 5,062.4% during the second quarter. California State Teachers Retirement System now owns 5,427,287 shares of the company’s stock worth $308,324,000 after purchasing an additional 5,322,155 shares in the last quarter. denkapparat Operations GmbH bought a new position in Travere Therapeutics during the 2nd quarter valued at $377,000. Nykredit A S bought a new position in Travere Therapeutics during the 2nd quarter valued at $237,000. Coppell Advisory Solutions LLC acquired a new position in shares of Travere Therapeutics during the 2nd quarter valued at $699,000. Finally, Penn Capital Management Company LLC raised its stake in shares of Travere Therapeutics by 18.1% in the 2nd quarter. Penn Capital Management Company LLC now owns 14,968 shares of the company’s stock worth $850,000 after buying an additional 2,292 shares in the last quarter.

Travere Therapeutics Stock Down 2.0%

NASDAQ:TVTX opened at $66.17 on Friday. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of -143.84 and a beta of 1.05. Travere Therapeutics, Inc. has a 1-year low of $22.06 and a 1-year high of $68.73. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58. The business’s fifty day moving average price is $61.14 and its 200 day moving average price is $47.42.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.03. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.The firm had revenue of $169.58 million during the quarter, compared to analyst estimates of $157.27 million. During the same period last year, the company posted $0.13 EPS. The business’s quarterly revenue was up 48.2% compared to the same quarter last year. On average, sell-side analysts forecast that Travere Therapeutics, Inc. will post -0.54 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jeffrey Meckler sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $67.31, for a total transaction of $1,346,200.00. Following the completion of the sale, the director directly owned 91,500 shares in the company, valued at approximately $6,158,865. This trade represents a 17.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.44% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TVTX has been the subject of several research reports. Piper Sandler reaffirmed an “overweight” rating on shares of Travere Therapeutics in a research note on Monday, August 17th. Canaccord Genuity Group upped their price target on shares of Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wedbush raised their price objective on shares of Travere Therapeutics from $61.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Wells Fargo & Company lifted their price objective on shares of Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Finally, Evercore set a $78.00 target price on shares of Travere Therapeutics in a report on Monday, August 10th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.00.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare kidney and immune-mediated diseases. The company’s work is centered on conditions with significant unmet medical needs, including diseases that can lead to progressive kidney damage and kidney failure.

Travere’s principal commercial product is FILSPARI (sparsentan), an oral therapy for adults with primary immunoglobulin A nephropathy, or IgA nephropathy, who are at risk of disease progression.