Travere Therapeutics, Inc. (NASDAQ:TVTX) Stake Boosted by California State Teachers Retirement System

California State Teachers Retirement System increased its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 10.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,192 shares of the company’s stock after purchasing an additional 7,041 shares during the quarter. California State Teachers Retirement System owned 0.08% of Travere Therapeutics worth $1,258,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new position in Travere Therapeutics during the fourth quarter worth $31,000. Sterling Capital Management LLC lifted its stake in Travere Therapeutics by 859.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock worth $41,000 after purchasing an additional 2,115 shares during the last quarter. Gen Wealth Partners Inc bought a new position in Travere Therapeutics during the fourth quarter worth $73,000. Summit Investment Advisors Inc. lifted its stake in Travere Therapeutics by 9.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company’s stock worth $138,000 after purchasing an additional 667 shares during the last quarter. Finally, Twinbeech Capital LP bought a new position in Travere Therapeutics during the fourth quarter worth $177,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Guggenheim reiterated a “buy” rating and issued a $47.00 target price on shares of Travere Therapeutics in a research note on Monday, April 14th. Scotiabank reiterated an “outperform” rating on shares of Travere Therapeutics in a research note on Friday, April 11th. Wedbush reiterated an “outperform” rating and issued a $30.00 target price on shares of Travere Therapeutics in a research note on Friday, May 16th. Citigroup reiterated a “buy” rating on shares of Travere Therapeutics in a research note on Friday, May 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Travere Therapeutics in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.79.

Insider Buying and Selling

In related news, CEO Eric M. Dube sold 18,924 shares of Travere Therapeutics stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $398,350.20. Following the transaction, the chief executive officer now directly owns 419,173 shares of the company’s stock, valued at $8,823,591.65. The trade was a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Heerma sold 1,771 shares of Travere Therapeutics stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $37,279.55. Following the transaction, the insider now directly owns 128,215 shares in the company, valued at approximately $2,698,925.75. The trade was a 1.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,527 shares of company stock valued at $473,814 over the last three months. Company insiders own 4.19% of the company’s stock.

Travere Therapeutics Price Performance

Shares of TVTX opened at $14.91 on Tuesday. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -3.64 and a beta of 0.75. 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 one year low of $6.80 and a one year high of $25.29. The stock’s fifty day moving average is $16.91 and its 200-day moving average is $18.64.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.08. The company had revenue of $81.73 million for the quarter, compared to analyst estimates of $77.44 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The company’s quarterly revenue was up 83.3% compared to the same quarter last year. During the same period last year, the company earned ($1.76) earnings per share. Equities analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS 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.