Travere Therapeutics, Inc. $TVTX Shares Bought by JW Asset Management LLC

JW Asset Management LLC grew its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 50.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,000 shares of the company’s stock after acquiring an additional 15,000 shares during the period. Travere Therapeutics comprises approximately 1.1% of JW Asset Management LLC’s holdings, making the stock its 13th biggest holding. JW Asset Management LLC’s holdings in Travere Therapeutics were worth $2,650,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC boosted its position in Travere Therapeutics by 53.4% during the 2nd quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock worth $34,000 after purchasing an additional 211 shares during the period. Fifth Third Bancorp purchased a new position in Travere Therapeutics in the first quarter valued at about $35,000. Eurizon Capital SGR S.p.A. purchased a new position in Travere Therapeutics in the third quarter valued at about $37,000. Allworth Financial LP purchased a new position in Travere Therapeutics in the second quarter valued at about $47,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Travere Therapeutics during the second quarter worth about $70,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TVTX. Guggenheim decreased their target price on Travere Therapeutics from $89.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, November 4th. Zacks Research lowered Travere Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 20th. Citigroup raised their target price on Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. HC Wainwright reissued a “buy” rating and set a $67.00 price target on shares of Travere Therapeutics in a research report on Tuesday, September 22nd. Finally, TD Cowen upped their price target on Travere Therapeutics from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Travere Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $72.55.

Travere Therapeutics Stock Down 0.9%

NASDAQ:TVTX opened at $51.56 on Friday. The company has a current ratio of 3.00, a quick ratio of 2.95 and a debt-to-equity ratio of 26.72. The stock has a 50 day moving average of $56.25 and a 200-day moving average of $47.45. The firm has a market capitalization of $4.95 billion, a PE ratio of -39.97 and a beta of 1.11. Travere Therapeutics, Inc. has a 52 week low of $22.59 and a 52 week high of $68.73.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Monday, November 2nd. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.49). Travere Therapeutics had a negative return on equity of 185.69% and a negative net margin of 18.66%. The company had revenue of $224.56 million during the quarter, compared to analyst estimates of $195.29 million. During the same period in the prior year, the business earned $0.28 earnings per share. Travere Therapeutics’s quarterly revenue was up 36.2% on a year-over-year basis. Analysts predict that Travere Therapeutics, Inc. will post -0.90 EPS for the current year.

Insider Transactions at Travere Therapeutics

In other news, CEO Eric Dube sold 243,735 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $53.82, for a total transaction of $13,117,817.70. Following the completion of the transaction, the chief executive officer directly owned 432,886 shares in the company, valued at approximately $23,297,924.52. The trade was a 36.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Heerma sold 172,717 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $63.43, for a total value of $10,955,439.31. Following the completion of the transaction, the executive vice president directly owned 117,066 shares of the company’s stock, valued at $7,425,496.38. This trade represents a 59.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,294,029 shares of company stock worth $79,454,261 in the last quarter. 4.44% of the stock is currently owned by corporate insiders.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc. is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, with an emphasis on kidney and metabolic disorders. The company was formerly known as Retrophin and adopted the Travere Therapeutics name in 2020. Its commercial products include FILSPARI (sparsentan), an oral treatment approved in the United States for adults with primary IgA nephropathy at risk of disease progression, and THIOLA EC (tiopronin), used to help prevent cystine kidney stones in people with cystinuria.