Travere Therapeutics, Inc. (NASDAQ:TVTX) Shares Purchased by Invesco Ltd.

Invesco Ltd. raised its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 135.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 858,942 shares of the company’s stock after acquiring an additional 493,736 shares during the quarter. Invesco Ltd. owned 1.10% of Travere Therapeutics worth $14,963,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in Travere Therapeutics during the fourth quarter valued at approximately $53,000. Victory Capital Management Inc. bought a new position in shares of Travere Therapeutics in the fourth quarter valued at $182,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of Travere Therapeutics during the 4th quarter valued at $192,000. Entropy Technologies LP bought a new stake in shares of Travere Therapeutics during the 4th quarter worth $214,000. Finally, E Fund Management Co. Ltd. acquired a new position in shares of Travere Therapeutics in the 4th quarter worth $217,000.

Insider Activity

In other news, CAO Sandra Calvin sold 54,244 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the completion of the sale, the chief accounting officer now owns 54,410 shares in the company, valued at approximately $1,360,250. This represents a 49.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP William E. Rote sold 5,200 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $23.53, for a total value of $122,356.00. Following the completion of the transaction, the senior vice president now directly owns 98,519 shares in the company, valued at $2,318,152.07. The trade was a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 188,877 shares of company stock worth $4,147,627. 3.75% of the stock is owned by corporate insiders.

Travere Therapeutics Stock Performance

Shares of TVTX stock opened at $14.92 on Monday. Travere Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $25.29. The stock’s 50-day moving average is $18.89 and its two-hundred day moving average is $18.62. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The firm has a market cap of $1.32 billion, a P/E ratio of -3.64 and a beta of 0.84.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $72.38 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. Analysts predict that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TVTX has been the topic of a number of analyst reports. Citigroup lifted their price target on Travere Therapeutics from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Bank of America boosted their price target on shares of Travere Therapeutics from $29.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, April 1st. Evercore ISI raised their price objective on shares of Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of Travere Therapeutics in a research note on Thursday, April 3rd. Finally, HC Wainwright increased their target price on Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.08.

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.