Impax Asset Management Group plc Makes New Investment in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Impax Asset Management Group plc bought a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 300,000 shares of the company's stock, valued at approximately $5,226,000. Impax Asset Management Group plc owned approximately 0.38% of Travere Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Jennison Associates LLC bought a new position in shares of Travere Therapeutics during the fourth quarter worth about $14,222,000. abrdn plc bought a new stake in Travere Therapeutics during the 4th quarter worth about $6,829,000. Emerald Advisers LLC boosted its stake in shares of Travere Therapeutics by 19.8% during the 3rd quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company's stock worth $27,430,000 after buying an additional 323,513 shares during the last quarter. Emerald Mutual Fund Advisers Trust grew its holdings in shares of Travere Therapeutics by 26.0% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company's stock valued at $16,588,000 after acquiring an additional 244,444 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Travere Therapeutics by 37.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 843,300 shares of the company's stock valued at $11,798,000 after acquiring an additional 228,300 shares during the last quarter.

Travere Therapeutics Stock Performance

Travere Therapeutics stock traded up $0.76 during midday trading on Friday, hitting $21.40. The company's stock had a trading volume of 2,003,508 shares, compared to its average volume of 1,656,869. The company has a 50-day moving average price of $19.97 and a two-hundred day moving average price of $16.91. Travere Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $25.29. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -5.22 and a beta of 0.72. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68.

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Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $74.79 million during the quarter, compared to the consensus estimate of $72.38 million. As a group, sell-side analysts predict that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Insider Activity

In related news, CEO Eric M. Dube sold 11,375 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $24.04, for a total transaction of $273,455.00. Following the completion of the sale, the chief executive officer now owns 419,173 shares of the company's stock, valued at $10,076,918.92. This represents a 2.64 % decrease in their ownership of the stock. 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 firm'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 transaction, the chief accounting officer now directly owns 54,410 shares in the company, valued at approximately $1,360,250. This represents a 49.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 206,335 shares of company stock worth $4,453,012. 4.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TVTX has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Travere Therapeutics in a research note on Friday, February 21st. Citigroup raised their target price on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a "buy" rating in a research note on Monday. Piper Sandler boosted their price target on Travere Therapeutics from $12.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. raised their price objective on Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, HC Wainwright boosted their target price on Travere Therapeutics from $18.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.62.

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.