245,499 Travere Therapeutics, Inc. $TVTX Shares Acquired by Penn Capital Management Company LLC

Penn Capital Management Company LLC grew its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 1,640.2% during the 3rd quarter, Holdings Channel reports. The fund owned 260,467 shares of the company’s stock after purchasing an additional 245,499 shares during the period. Penn Capital Management Company LLC’s holdings in Travere Therapeutics were worth $15,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TVTX. GAMMA Investing LLC raised its holdings in shares of Travere Therapeutics by 53.4% during the second quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock worth $34,000 after purchasing an additional 211 shares during the last quarter. Allworth Financial LP purchased a new stake in Travere Therapeutics in the second quarter valued at $47,000. Fifth Third Bancorp purchased a new stake in Travere Therapeutics in the first quarter valued at $35,000. Integrated Wealth Concepts LLC acquired a new stake in Travere Therapeutics during the 2nd quarter worth about $70,000. Finally, Sterling Capital Management LLC grew its position in Travere Therapeutics by 839.5% during the 3rd quarter. Sterling Capital Management LLC now owns 2,950 shares of the company’s stock worth $174,000 after purchasing an additional 2,636 shares during the period.

Travere Therapeutics Stock Up 4.1%

Travere Therapeutics stock opened at $51.63 on Tuesday. The company has a debt-to-equity ratio of 26.72, a current ratio of 3.00 and a quick ratio of 3.99. The stock has a market capitalization of $4.96 billion, a PE ratio of -40.02 and a beta of 1.11. The business has a 50 day simple moving average of $57.12 and a 200-day simple moving average of $47.12. Travere Therapeutics, Inc. has a 12 month low of $22.59 and a 12 month high of $68.73.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TVTX shares. Wedbush reiterated an “outperform” rating and set a $76.00 price objective on shares of Travere Therapeutics in a research note on Tuesday, September 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a report on Friday, September 18th. Guggenheim lowered their target price on Travere Therapeutics from $89.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, November 4th. HC Wainwright reaffirmed a “buy” rating and set a $67.00 target price on shares of Travere Therapeutics in a report on Tuesday, September 22nd. Finally, Piper Sandler reiterated an “overweight” rating on shares of Travere Therapeutics in a research report on Monday, August 17th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.55.

Insider Buying and Selling at Travere Therapeutics

In other news, EVP Peter Heerma sold 172,717 shares of Travere Therapeutics stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $63.43, for a total value of $10,955,439.31. Following the sale, the executive vice president owned 117,066 shares in the company, valued at $7,425,496.38. This trade represents a 59.60% decrease in their ownership of the stock. The sale 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, CEO Eric Dube sold 243,735 shares of Travere Therapeutics stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $53.82, for a total value of $13,117,817.70. Following the completion of the sale, the chief executive officer 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,294,029 shares of company stock valued at $79,454,261. Insiders own 4.44% of the company’s stock.

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.