Parkman Healthcare Partners LLC Has $15.19 Million Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Parkman Healthcare Partners LLC grew its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 12.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,086,067 shares of the company's stock after purchasing an additional 116,175 shares during the period. Travere Therapeutics makes up about 1.9% of Parkman Healthcare Partners LLC's holdings, making the stock its 16th largest holding. Parkman Healthcare Partners LLC owned about 1.39% of Travere Therapeutics worth $15,194,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Bellevue Group AG acquired a new position in Travere Therapeutics during the third quarter worth $434,000. PDT Partners LLC raised its stake in shares of Travere Therapeutics by 10.7% in the third quarter. PDT Partners LLC now owns 264,273 shares of the company's stock valued at $3,697,000 after acquiring an additional 25,490 shares in the last quarter. Walleye Capital LLC raised its stake in shares of Travere Therapeutics by 70.1% in the third quarter. Walleye Capital LLC now owns 488,453 shares of the company's stock valued at $6,833,000 after acquiring an additional 201,282 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Travere Therapeutics by 20.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,969 shares of the company's stock valued at $279,000 after acquiring an additional 3,458 shares in the last quarter. Finally, Acuta Capital Partners LLC acquired a new stake in shares of Travere Therapeutics in the third quarter valued at $266,000.

Analyst Ratings Changes

Several analysts have recently issued reports on TVTX shares. Guggenheim increased their price objective on Travere Therapeutics from $23.00 to $41.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Wells Fargo & Company upgraded Travere Therapeutics from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $9.00 to $27.00 in a research note on Monday, October 21st. Scotiabank increased 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. Citigroup decreased their price target on Travere Therapeutics from $23.00 to $19.00 and set a "buy" rating for the company in a report on Friday, September 27th. Finally, Piper Sandler raised their target price on Travere Therapeutics from $12.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $22.62.

Insider Activity at Travere Therapeutics

In other news, SVP William E. Rote sold 4,387 shares of the company's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the completion of the transaction, the senior vice president now owns 84,455 shares in the company, valued at approximately $972,921.60. This represents a 4.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jula Inrig sold 2,191 shares of the company'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 $25,240.32. Following the transaction, the insider now owns 62,633 shares of the company's stock, valued at $721,532.16. This represents a 3.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,283 shares of company stock valued at $1,720,670 over the last ninety days. Corporate insiders own 4.06% of the company's stock.

Travere Therapeutics Price Performance

Travere Therapeutics stock traded down $0.01 during midday trading on Wednesday, reaching $19.37. 717,938 shares of the company were exchanged, compared to its average volume of 1,393,757. 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 1 year low of $5.12 and a 1 year high of $20.33. The firm's 50-day simple moving average is $17.38 and its 200-day simple moving average is $12.05. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of -4.26 and a beta of 0.69.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its earnings results 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 business had revenue of $62.90 million during the quarter, compared to the consensus estimate 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 firm earned ($1.17) earnings per share. On average, analysts anticipate that Travere Therapeutics, Inc. will post -3.94 EPS for the current year.

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.