Stephens Investment Management Group LLC Has $65.78 Million Holdings in Travere Therapeutics, Inc. $TVTX

Stephens Investment Management Group LLC increased its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,721,623 shares of the company’s stock after buying an additional 121,955 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Travere Therapeutics were worth $65,783,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in TVTX. Raymond James Financial Inc. bought a new stake in Travere Therapeutics in the 2nd quarter valued at $33,000. First Horizon Corp bought a new stake in Travere Therapeutics in the 3rd quarter valued at $36,000. Torren Management LLC bought a new stake in Travere Therapeutics in the 4th quarter valued at $38,000. Comerica Bank raised its stake in Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after acquiring an additional 492 shares during the period. Finally, Garner Asset Management Corp bought a new stake in Travere Therapeutics in the 4th quarter valued at $69,000.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. HC Wainwright increased their price target on Travere Therapeutics from $47.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Guggenheim increased their price target on Travere Therapeutics from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, April 24th. TD Cowen increased their price target on Travere Therapeutics from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Weiss Ratings cut Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 6th. Finally, Wedbush increased their price target on Travere Therapeutics from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.83.

Travere Therapeutics Stock Down 3.4%

Shares of NASDAQ TVTX opened at $42.59 on Friday. The company has a debt-to-equity ratio of 3.16, a quick ratio of 3.08 and a current ratio of 3.13. Travere Therapeutics, Inc. has a 52 week low of $13.88 and a 52 week high of $48.61. The stock has a market capitalization of $3.96 billion, a P/E ratio of -185.17 and a beta of 1.13. The stock’s fifty day moving average is $34.53 and its 200 day moving average is $33.56.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.29. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The company had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $136.23 million. During the same quarter last year, the business earned ($0.47) earnings per share. Travere Therapeutics’s revenue was up 55.6% on a year-over-year basis. Sell-side analysts forecast that Travere Therapeutics, Inc. will post -0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jula Inrig sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $45.00, for a total value of $900,000.00. Following the sale, the insider directly owned 111,473 shares of the company’s stock, valued at $5,016,285. This trade represents a 15.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Sandra Calvin sold 21,977 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $41.07, for a total value of $902,595.39. Following the completion of the sale, the chief accounting officer directly owned 42,353 shares in the company, valued at $1,739,437.71. This trade represents a 34.16% 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. Insiders have sold 400,015 shares of company stock valued at $15,895,428 in the last ninety days. Insiders own 4.44% of the company’s stock.

About Travere Therapeutics

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.