Travere Therapeutics, Inc. $TVTX Shares Sold by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC lowered its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 25.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,230 shares of the company’s stock after selling 29,775 shares during the period. Travere Therapeutics makes up approximately 1.4% of Lisanti Capital Growth LLC’s investment portfolio, making the stock its 21st biggest holding. Lisanti Capital Growth LLC’s holdings in Travere Therapeutics were worth $5,254,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Jupiter Topco LLC bought a new position in shares of Travere Therapeutics during the second quarter valued at approximately $643,299,000. Bank of America Corp DE bought a new stake in shares of Travere Therapeutics during the 2nd quarter worth approximately $259,527,000. Assenagon Asset Management S.A. lifted its stake in shares of Travere Therapeutics by 168.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,145,414 shares of the company’s stock worth $67,442,000 after acquiring an additional 718,109 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Travere Therapeutics by 50.0% during the 2nd quarter. Wellington Management Group LLP now owns 1,533,080 shares of the company’s stock worth $87,094,000 after acquiring an additional 510,808 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in Travere Therapeutics during the 2nd quarter valued at $26,723,000.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TVTX. Canaccord Genuity Group upped their price objective on Travere Therapeutics from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, November 4th. Leerink Partners decreased their target price on Travere Therapeutics from $78.00 to $67.00 and set an “outperform” rating for the company in a research report on Thursday, November 5th. Citigroup boosted their target price on shares of Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Friday, September 18th. Finally, Zacks Research downgraded shares of Travere Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 20th. Eleven analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.55.

Insider Buying and Selling

In other news, EVP Peter Heerma sold 172,717 shares of the business’s 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 transaction, the executive vice president owned 117,066 shares of the company’s stock, valued at approximately $7,425,496.38. The trade was a 59.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric M. Dube sold 243,735 shares of Travere Therapeutics 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 completion of the transaction, the chief executive officer owned 432,886 shares in the company, valued at approximately $23,297,924.52. This trade represents a 36.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,294,029 shares of company stock valued at $79,454,261 in the last ninety days. Company insiders own 4.44% of the company’s stock.

Travere Therapeutics Price Performance

Shares of TVTX stock opened at $52.04 on Thursday. Travere Therapeutics, Inc. has a twelve month low of $22.59 and a twelve month high of $68.73. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of -40.34 and a beta of 1.11. The stock has a fifty day simple moving average of $56.56 and a two-hundred day simple moving average of $47.34. The company has a current ratio of 3.00, a quick ratio of 2.95 and a debt-to-equity ratio of 26.72.

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

Travere Therapeutics 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.