Mirae Asset Global Investments Co. Ltd. Boosts Stake in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Mirae Asset Global Investments Co. Ltd. grew its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,424 shares of the company’s stock after buying an additional 3,083 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.06% of Travere Therapeutics worth $417,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TVTX. SG Americas Securities LLC purchased a new position in shares of Travere Therapeutics in the third quarter worth $1,179,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Travere Therapeutics by 32.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,511 shares of the company’s stock worth $148,000 after acquiring an additional 4,007 shares during the period. Emerald Advisers LLC grew its position in Travere Therapeutics by 64.9% during the third quarter. Emerald Advisers LLC now owns 1,060,302 shares of the company’s stock valued at $9,479,000 after buying an additional 417,250 shares during the period. Emerald Mutual Fund Advisers Trust grew its position in Travere Therapeutics by 44.4% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 764,603 shares of the company’s stock valued at $6,836,000 after buying an additional 235,085 shares during the period. Finally, Cheyne Capital Management UK LLP acquired a new stake in shares of Travere Therapeutics in the third quarter valued at about $234,000.

Wall Street Analysts Forecast Growth

TVTX has been the topic of several research analyst reports. Piper Sandler lifted their target price on shares of Travere Therapeutics from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Wedbush reiterated an “outperform” rating and issued a $13.00 target price on shares of Travere Therapeutics in a research report on Wednesday, April 17th. Wells Fargo & Company raised their price target on shares of Travere Therapeutics from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Friday, February 16th. HC Wainwright raised their price target on shares of Travere Therapeutics from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Guggenheim reissued a “neutral” rating on shares of Travere Therapeutics in a research note on Wednesday, March 27th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Insiders Place Their Bets

In other news, insider Peter Heerma sold 4,195 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $8.53, for a total value of $35,783.35. Following the sale, the insider now directly owns 99,503 shares of the company’s stock, valued at approximately $848,760.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Peter Heerma sold 4,195 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $8.53, for a total value of $35,783.35. Following the sale, the insider now directly owns 99,503 shares of the company’s stock, valued at approximately $848,760.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP William E. Rote sold 4,764 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $8.71, for a total transaction of $41,494.44. Following the completion of the sale, the senior vice president now directly owns 80,720 shares in the company, valued at $703,071.20. The disclosure for this sale can be found here. Insiders have sold 34,773 shares of company stock valued at $300,625 over the last ninety days. Company insiders own 3.75% of the company’s stock.

Travere Therapeutics Price Performance

Shares of TVTX stock opened at $5.26 on Friday. The company has a debt-to-equity ratio of 1.88, a current ratio of 3.47 and a quick ratio of 3.41. The firm’s 50-day moving average is $7.28 and its two-hundred day moving average is $7.65. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $22.75. The company has a market capitalization of $400.33 million, a PE ratio of -3.27 and a beta of 0.58.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, February 15th. The company reported ($1.16) EPS for the quarter, topping analysts’ consensus estimates of ($1.27) by $0.11. Travere Therapeutics had a negative net margin of 56.02% and a negative return on equity of 177.97%. The company had revenue of $45.06 million for the quarter, compared to the consensus estimate of $41.25 million. Analysts predict that Travere Therapeutics, Inc. will post -3.1 earnings per share 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.