Emerald Advisers LLC Buys 323,513 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Emerald Advisers LLC grew its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 19.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,960,659 shares of the company's stock after purchasing an additional 323,513 shares during the period. Emerald Advisers LLC owned about 2.56% of Travere Therapeutics worth $27,430,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TVTX. Mirae Asset Global Investments Co. Ltd. increased its holdings in Travere Therapeutics by 8.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,178 shares of the company's stock worth $387,000 after buying an additional 3,754 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Travere Therapeutics in the first quarter worth approximately $452,000. Russell Investments Group Ltd. increased its holdings in Travere Therapeutics by 79.2% in the first quarter. Russell Investments Group Ltd. now owns 184,623 shares of the company's stock worth $1,423,000 after buying an additional 81,611 shares during the last quarter. ProShare Advisors LLC increased its holdings in Travere Therapeutics by 9.2% in the first quarter. ProShare Advisors LLC now owns 18,421 shares of the company's stock worth $142,000 after buying an additional 1,557 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Travere Therapeutics by 13.6% in the first quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company's stock worth $48,310,000 after buying an additional 750,686 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TVTX shares. Piper Sandler increased their price objective on Travere Therapeutics from $11.00 to $12.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. Wedbush upped their target price on Travere Therapeutics from $17.00 to $25.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 9th. HC Wainwright decreased their target price on Travere Therapeutics from $23.00 to $18.00 and set a "buy" rating for the company in a research report on Friday, September 27th. Barclays upped their target price on Travere Therapeutics from $18.00 to $20.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, JPMorgan Chase & Co. upped their target price on Travere Therapeutics from $20.00 to $23.00 and gave the stock an "overweight" rating in a research report on Friday, September 13th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Travere Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $21.85.

Insider Buying and Selling

In related news, CEO Eric M. Dube sold 21,125 shares of the firm's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $243,360.00. Following the completion of the transaction, the chief executive officer now directly owns 361,975 shares of the company's stock, valued at $4,169,952. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Eric M. Dube sold 21,125 shares of the firm's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $243,360.00. Following the completion of the transaction, the chief executive officer now directly owns 361,975 shares of the company's stock, valued at $4,169,952. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jula Inrig sold 2,191 shares of the firm's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $25,240.32. Following the completion of the transaction, the insider now directly owns 62,633 shares of the company's stock, valued at approximately $721,532.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,707 shares of company stock valued at $1,504,312 over the last ninety days. 3.75% of the stock is owned by company insiders.

Travere Therapeutics Stock Performance

Shares of TVTX traded up $0.07 during mid-day trading on Friday, hitting $17.57. The company's stock had a trading volume of 1,941,314 shares, compared to its average volume of 2,011,492. Travere Therapeutics, Inc. has a one year low of $5.12 and a one year high of $19.25. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. The firm has a market capitalization of $1.34 billion, a PE ratio of -3.86 and a beta of 0.70. The stock's 50-day moving average is $14.53 and its two-hundred day moving average is $10.12.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.01. The company had revenue of $62.90 million during the quarter, compared to analysts' expectations of $60.87 million. Travere Therapeutics had a negative return on equity of 360.96% and a negative net margin of 172.75%. Travere Therapeutics's revenue for the quarter was up 69.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.17) earnings per share. As a group, sell-side analysts anticipate that Travere Therapeutics, Inc. will post -3.95 EPS for the current year.

Travere Therapeutics 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.