Emerald Advisers LLC Buys 165,085 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Emerald Advisers LLC lifted its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 8.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,125,744 shares of the company's stock after acquiring an additional 165,085 shares during the period. Travere Therapeutics accounts for about 1.4% of Emerald Advisers LLC's investment portfolio, making the stock its 13th largest position. Emerald Advisers LLC owned approximately 2.72% of Travere Therapeutics worth $37,030,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in TVTX. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Travere Therapeutics by 11.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 525,381 shares of the company's stock valued at $7,350,000 after purchasing an additional 52,985 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Travere Therapeutics in the 3rd quarter valued at approximately $283,000. The Manufacturers Life Insurance Company increased its position in Travere Therapeutics by 61.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 47,045 shares of the company's stock worth $658,000 after buying an additional 17,931 shares during the period. FMR LLC increased its position in Travere Therapeutics by 27.5% in the 3rd quarter. FMR LLC now owns 147,416 shares of the company's stock worth $2,062,000 after buying an additional 31,772 shares during the period. Finally, Finepoint Capital LP lifted its holdings in shares of Travere Therapeutics by 0.3% during the third quarter. Finepoint Capital LP now owns 1,782,267 shares of the company's stock worth $24,934,000 after buying an additional 5,539 shares during the last quarter.

Remove Ads

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Travere Therapeutics in a research note on Friday, February 21st. HC Wainwright lifted their target price on Travere Therapeutics from $18.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. Citigroup raised their price objective on Travere Therapeutics from $31.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. JPMorgan Chase & Co. upped their target price on Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Scotiabank lifted their price target on shares of Travere Therapeutics from $27.00 to $32.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $30.62.

Insider Transactions at Travere Therapeutics

In related news, insider Peter Heerma sold 1,584 shares of the firm's stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total value of $30,000.96. Following the transaction, the insider now owns 106,374 shares in the company, valued at $2,014,723.56. This trade represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William E. Rote sold 2,437 shares of the business's stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $47,424.02. Following the sale, the senior vice president now directly owns 83,170 shares of the company's stock, valued at $1,618,488.20. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,335 shares of company stock worth $4,194,712. Corporate insiders own 3.75% of the company's stock.

Travere Therapeutics Price Performance

TVTX traded down $0.42 during trading on Thursday, hitting $20.37. The company's stock had a trading volume of 1,118,386 shares, compared to its average volume of 1,422,924. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -4.97 and a beta of 0.75. The firm's 50 day moving average price is $20.73 and its two-hundred day moving average price is $18.40. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $25.29.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.15). Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The business had revenue of $74.79 million during the quarter, compared to the consensus estimate of $72.38 million. Sell-side analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Travere Therapeutics Company Profile

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.