Oppenheimer & Co. Inc. Purchases Shares of 48,139 Travere Therapeutics, Inc. (NASDAQ:TVTX)

Oppenheimer & Co. Inc. bought a new position in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 48,139 shares of the company's stock, valued at approximately $673,000. Oppenheimer & Co. Inc. owned approximately 0.06% of Travere Therapeutics at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of 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 period. Millennium Management LLC grew its stake in Travere Therapeutics by 33.9% during the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company's stock valued at $24,244,000 after acquiring an additional 747,406 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Travere Therapeutics by 912.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company's stock valued at $18,200,000 after purchasing an additional 1,995,419 shares during the period. Emerald Advisers LLC increased its holdings in shares of Travere Therapeutics by 19.8% in the 3rd quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company's stock valued at $27,430,000 after purchasing an additional 323,513 shares during the period. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Travere Therapeutics by 26.0% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company's stock worth $16,588,000 after purchasing an additional 244,444 shares during the period.

Travere Therapeutics Price Performance

Shares of NASDAQ TVTX opened at $17.86 on Thursday. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $20.33. 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 business's 50 day moving average is $16.56 and its two-hundred day moving average is $11.24.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.01. The firm had revenue of $62.90 million during the quarter, compared to analysts' expectations of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The business's quarterly revenue was up 69.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.17) EPS. On average, analysts predict that Travere Therapeutics, Inc. will post -3.93 earnings per share for the current year.

Insider Activity

In related news, Director Jeffrey A. Meckler sold 40,000 shares of the company's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $14.06, for a total value of $562,400.00. Following the sale, the director now owns 81,000 shares of the company's stock, valued at $1,138,860. The trade was a 33.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP William E. Rote sold 4,387 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $50,538.24. Following the transaction, the senior vice president now owns 84,455 shares of the company's stock, valued at approximately $972,921.60. This represents a 4.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,707 shares of company stock worth $1,504,312. Company insiders own 3.75% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TVTX shares. Barclays lifted their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Canaccord Genuity Group reduced their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Citigroup dropped their price target on shares of Travere Therapeutics from $23.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, September 27th. Leerink Partners reiterated an "outperform" rating and issued a $20.00 price objective on shares of Travere Therapeutics in a report on Tuesday, October 8th. Finally, Scotiabank raised their target price on Travere Therapeutics from $23.00 to $27.00 and gave the company a "sector outperform" rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $22.62.

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.