Norges Bank Buys Shares of 71,000 Travere Therapeutics, Inc. (NASDAQ:TVTX)

Norges Bank acquired a new position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 71,000 shares of the company's stock, valued at approximately $1,237,000. Norges Bank owned 0.09% of Travere Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Emerald Advisers LLC increased its position in shares of Travere Therapeutics by 8.4% during the fourth quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company's stock valued at $37,030,000 after acquiring an additional 165,085 shares during the last quarter. Geode Capital Management LLC raised its position in Travere Therapeutics by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company's stock valued at $24,222,000 after purchasing an additional 64,744 shares during the period. Prudential Financial Inc. lifted its stake in Travere Therapeutics by 60.5% during the fourth quarter. Prudential Financial Inc. now owns 969,141 shares of the company's stock worth $16,882,000 after purchasing an additional 365,200 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of Travere Therapeutics during the fourth quarter worth $14,222,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Travere Therapeutics by 16.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 661,603 shares of the company's stock valued at $11,525,000 after buying an additional 94,194 shares in the last quarter.

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Analyst Ratings Changes

TVTX has been the topic of several recent research reports. HC Wainwright upped their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. Bank of America lifted their target price on Travere Therapeutics from $29.00 to $31.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. Evercore ISI upped their price target on Travere Therapeutics from $33.00 to $45.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Guggenheim reiterated a "buy" rating and issued a $47.00 price objective on shares of Travere Therapeutics in a research note on Monday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Travere Therapeutics in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.08.

Travere Therapeutics Stock Up 0.5 %

Shares of TVTX stock traded up $0.08 during mid-day trading on Tuesday, reaching $14.91. 1,364,016 shares of the company were exchanged, compared to its average volume of 1,517,900. The company has a market capitalization of $1.32 billion, a P/E ratio of -3.64 and a beta of 0.84. The business's 50 day simple moving average is $19.47 and its 200 day simple moving average is $18.60. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. Travere Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $25.29.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its 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 for the quarter, compared to the consensus estimate of $72.38 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. Research analysts predict that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Insider Activity

In related news, SVP William E. Rote sold 2,437 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total transaction of $47,424.02. Following the transaction, the senior vice president now owns 83,170 shares in the company, valued at $1,618,488.20. This trade represents a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 value of $1,356,100.00. Following the transaction, 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. Over the last 90 days, insiders have sold 188,877 shares of company stock valued at $4,147,627. Insiders own 3.75% of the company's stock.

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.