Federated Hermes Inc. Purchases 44,500 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Federated Hermes Inc. lifted its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 668,315 shares of the company's stock after acquiring an additional 44,500 shares during the quarter. Federated Hermes Inc. owned approximately 0.86% of Travere Therapeutics worth $11,642,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. R Squared Ltd bought a new stake in Travere Therapeutics in the fourth quarter worth approximately $53,000. Victory Capital Management Inc. bought a new stake in shares of Travere Therapeutics during the 4th quarter worth about $182,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Travere Therapeutics during the 4th quarter valued at about $192,000. Entropy Technologies LP acquired a new stake in Travere Therapeutics in the 4th quarter worth approximately $214,000. Finally, E Fund Management Co. Ltd. acquired a new stake in Travere Therapeutics in the 4th quarter worth approximately $217,000.

Insider Activity

In related news, SVP William E. Rote sold 2,437 shares of the business's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $47,424.02. Following the completion of the sale, the senior vice president now directly owns 83,170 shares in the company, valued at $1,618,488.20. The trade was a 2.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sandra Calvin sold 54,244 shares of the business's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the completion of the sale, the chief accounting officer now directly owns 54,410 shares of the company's stock, valued at $1,360,250. This represents a 49.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 188,877 shares of company stock valued at $4,147,627 over the last three months. Insiders own 3.75% of the company's stock.

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Travere Therapeutics Stock Up 0.2 %

Shares of NASDAQ:TVTX traded up $0.03 during trading on Tuesday, hitting $14.86. 236,002 shares of the company were exchanged, compared to its average volume of 1,513,504. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -3.63 and a beta of 0.84. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $25.29. The firm has a fifty day moving average price of $19.47 and a two-hundred day moving average price of $18.60.

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

Analysts Set New Price Targets

A number of research firms have recently commented on TVTX. Guggenheim reiterated a "buy" rating and issued a $47.00 price objective on shares of Travere Therapeutics in a research note on Monday. Evercore ISI boosted their price target on Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Canaccord Genuity Group lifted their price objective on Travere Therapeutics from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, April 10th. HC Wainwright raised 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. Finally, JPMorgan Chase & Co. increased their price objective on shares of Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $32.08.

About Travere Therapeutics

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.