Travere Therapeutics, Inc. $TVTX Stock Purchased by JW Asset Management LLC

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. S&CO Inc. acquired a new position in shares of Travere Therapeutics during the second quarter valued at approximately $3,181,000. Artia Global Partners LP bought a new stake in Travere Therapeutics during the second quarter worth approximately $19,260,000. Bank of America Corp DE bought a new stake in Travere Therapeutics during the second quarter worth approximately $259,527,000. Elmind Capital LP acquired a new stake in Travere Therapeutics in the second quarter worth approximately $16,622,606. Finally, Insight Wealth Strategies LLC bought a new position in Travere Therapeutics during the 3rd quarter valued at $5,692,000.

Insider Activity

In other Travere Therapeutics news, CEO Eric Dube sold 243,735 shares of the stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $53.82, for a total transaction of $13,117,817.70. Following the transaction, the chief executive officer directly owned 432,886 shares of the company’s stock, valued at $23,297,924.52. This represents a 36.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Heerma sold 8,282 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $65.07, for a total transaction of $538,909.74. Following the completion of the sale, the executive vice president owned 117,066 shares of the company’s stock, valued at $7,617,484.62. The trade was a 6.61% 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. In the last quarter, insiders have sold 1,294,029 shares of company stock valued at $79,454,261. 4.44% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TVTX has been the subject of several research analyst reports. Piper Sandler restated an “overweight” rating on shares of Travere Therapeutics in a report on Monday, August 17th. Wedbush reiterated an “outperform” rating and issued a $76.00 price target on shares of Travere Therapeutics in a research report on Tuesday, September 22nd. Leerink Partners dropped their price target on shares of Travere Therapeutics from $78.00 to $67.00 and set an “outperform” rating on the stock in a research report on Thursday, November 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a report on Friday, September 18th. Finally, Citigroup raised their price objective on shares of Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.55.

Travere Therapeutics Stock Down 0.9%

Shares of Travere Therapeutics stock opened at $51.56 on Friday. Travere Therapeutics, Inc. has a 12-month low of $22.59 and a 12-month high of $68.73. The firm has a market capitalization of $4.95 billion, a PE ratio of -39.97 and a beta of 1.11. The company has a quick ratio of 2.95, a current ratio of 3.00 and a debt-to-equity ratio of 26.72. The stock’s fifty day moving average is $56.25 and its 200-day moving average is $47.45.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Monday, November 2nd. The company reported ($0.55) earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $195.29 million. During the same quarter in the previous year, the firm posted $0.28 EPS. Travere Therapeutics’s quarterly revenue was up 36.2% on a year-over-year basis. Equities analysts anticipate that Travere Therapeutics, Inc. will post -0.90 earnings per share for the current year.

About Travere Therapeutics

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.