Stonepine Capital Management LLC Makes New $2.97 Million Investment in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Stonepine Capital Management LLC bought a new position in Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 132,005 shares of the company’s stock, valued at approximately $2,969,000. Travere Therapeutics comprises about 1.0% of Stonepine Capital Management LLC’s investment portfolio, making the stock its 17th largest position. Stonepine Capital Management LLC owned about 0.18% of Travere Therapeutics as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TVTX. Pictet Asset Management SA boosted its position in Travere Therapeutics by 179.2% in the first quarter. Pictet Asset Management SA now owns 1,550,502 shares of the company’s stock worth $34,871,000 after purchasing an additional 995,136 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Travere Therapeutics by 91.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,658,689 shares of the company’s stock valued at $37,304,000 after buying an additional 791,270 shares in the last quarter. State Street Corp lifted its position in shares of Travere Therapeutics by 21.9% during the 2nd quarter. State Street Corp now owns 3,607,165 shares of the company’s stock valued at $87,402,000 after buying an additional 647,804 shares in the last quarter. Armistice Capital LLC lifted its position in shares of Travere Therapeutics by 9.9% during the 4th quarter. Armistice Capital LLC now owns 6,412,000 shares of the company’s stock valued at $134,844,000 after buying an additional 576,000 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Travere Therapeutics by 34.6% during the 1st quarter. Renaissance Technologies LLC now owns 2,144,822 shares of the company’s stock valued at $48,237,000 after buying an additional 551,300 shares in the last quarter.

Insider Activity

In other news, CEO Eric M. Dube sold 4,455 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $14.71, for a total transaction of $65,533.05. Following the transaction, the chief executive officer now owns 242,595 shares of the company’s stock, valued at approximately $3,568,572.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP William E. Rote sold 1,815 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $14.71, for a total transaction of $26,698.65. Following the transaction, the senior vice president now owns 61,173 shares of the company’s stock, valued at approximately $899,854.83. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eric M. Dube sold 4,455 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $14.71, for a total value of $65,533.05. Following the transaction, the chief executive officer now directly owns 242,595 shares in the company, valued at approximately $3,568,572.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,727 shares of company stock valued at $98,954. 3.75% of the stock is currently owned by insiders.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $14.41 on Friday. The company has a debt-to-equity ratio of 3.23, a current ratio of 3.99 and a quick ratio of 3.86. Travere Therapeutics, Inc. has a 1 year low of $12.57 and a 1 year high of $28.11. The stock’s 50 day simple moving average is $15.05 and its two-hundred day simple moving average is $17.77. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -3.19 and a beta of 0.42.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Thursday, August 3rd. The company reported ($1.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.03. Travere Therapeutics had a negative return on equity of 273.80% and a negative net margin of 136.00%. The business had revenue of $59.70 million for the quarter, compared to the consensus estimate of $53.93 million. As a group, equities analysts anticipate that Travere Therapeutics, Inc. will post -4.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TVTX has been the topic of a number of analyst reports. Evercore ISI initiated coverage on Travere Therapeutics in a research report on Wednesday. They set an “outperform” rating and a $30.00 price objective on the stock. HC Wainwright lowered their price objective on Travere Therapeutics from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, August 7th. TD Cowen assumed coverage on Travere Therapeutics in a report on Monday, May 22nd. They issued an “outperform” rating and a $30.00 price target on the stock. Canaccord Genuity Group lowered their price target on Travere Therapeutics from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, July 18th. Finally, Piper Sandler lowered their price target on Travere Therapeutics from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, August 18th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Travere Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $28.50.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc, a biopharmaceutical company, focuses on the identification, development, commercialization, and delivering of therapies for the treatment of rare diseases. Its marketed products include Chenodal, a synthetic oral form of chenodeoxycholic acid for the treatment of radiolucent stones in gallbladders; Cholbam, a cholic acid capsule to treat pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects, as well as for adjunctive treatment of patients with peroxisomal disorders; and Thiola and Thiola EC, a tiopronin tablet for the treatment of homozygous cystinuria.