Travere Therapeutics, Inc. (NASDAQ:TVTX) Shares Bought by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. grew its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 23.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,910 shares of the company’s stock after acquiring an additional 4,314 shares during the period. E Fund Management Co. Ltd.’s holdings in Travere Therapeutics were worth $206,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Armistice Capital LLC increased its stake in shares of Travere Therapeutics by 0.7% during the third quarter. Armistice Capital LLC now owns 7,500,000 shares of the company’s stock worth $67,050,000 after purchasing an additional 50,000 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Travere Therapeutics by 10.9% in the third quarter. Vanguard Group Inc. now owns 4,667,458 shares of the company’s stock valued at $41,727,000 after acquiring an additional 460,176 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Travere Therapeutics by 9.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,671,770 shares of the company’s stock worth $14,946,000 after acquiring an additional 146,970 shares during the last quarter. Avidity Partners Management LP purchased a new stake in shares of Travere Therapeutics during the third quarter worth approximately $11,828,000. Finally, Invesco Ltd. lifted its holdings in Travere Therapeutics by 16.2% in the 3rd quarter. Invesco Ltd. now owns 813,252 shares of the company’s stock valued at $7,270,000 after purchasing an additional 113,250 shares in the last quarter.

Travere Therapeutics Stock Performance

Travere Therapeutics stock opened at $6.60 on Friday. The stock’s 50 day moving average price is $6.97 and its 200 day moving average price is $7.59. Travere Therapeutics, Inc. has a one year low of $5.12 and a one year high of $19.54. The company has a debt-to-equity ratio of 1.88, a quick ratio of 3.41 and a current ratio of 3.47. The firm has a market capitalization of $502.33 million, a PE ratio of -4.10 and a beta of 0.69.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Monday, May 6th. The company reported ($1.76) EPS for the quarter, missing the consensus estimate of ($0.98) by ($0.78). Travere Therapeutics had a negative return on equity of 177.97% and a negative net margin of 56.02%. The business had revenue of $41.40 million during the quarter, compared to analyst estimates of $43.46 million. During the same quarter last year, the firm posted ($1.27) EPS. The company’s revenue was up 34.0% compared to the same quarter last year. As a group, sell-side analysts expect that Travere Therapeutics, Inc. will post -3.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TVTX. Guggenheim reiterated a “neutral” rating on shares of Travere Therapeutics in a research report on Wednesday, March 27th. Canaccord Genuity Group increased their price target on Travere Therapeutics from $15.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday. Wells Fargo & Company boosted their price objective on Travere Therapeutics from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Friday, February 16th. Piper Sandler raised their target price on Travere Therapeutics from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Finally, Wedbush reissued an “outperform” rating and set a $13.00 price target on shares of Travere Therapeutics in a research report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.69.

About Travere Therapeutics

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.