Invesco Ltd. Lowers Position in Travere Therapeutics, Inc. $TVTX

Invesco Ltd. decreased its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 34.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 565,927 shares of the company’s stock after selling 293,015 shares during the period. Invesco Ltd. owned about 0.64% of Travere Therapeutics worth $10,141,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Travere Therapeutics in the first quarter valued at about $182,000. Northern Trust Corp increased its holdings in shares of Travere Therapeutics by 11.3% in the 4th quarter. Northern Trust Corp now owns 754,395 shares of the company’s stock valued at $13,142,000 after purchasing an additional 76,358 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Travere Therapeutics in the 4th quarter valued at about $583,000. Bank of New York Mellon Corp increased its holdings in shares of Travere Therapeutics by 7.9% in the 1st quarter. Bank of New York Mellon Corp now owns 233,942 shares of the company’s stock valued at $4,192,000 after purchasing an additional 17,079 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Travere Therapeutics by 5,072.9% in the 1st quarter. GAMMA Investing LLC now owns 10,501 shares of the company’s stock worth $188,000 after buying an additional 10,298 shares in the last quarter.

Travere Therapeutics Stock Performance

NASDAQ TVTX opened at $17.92 on Monday. The business’s 50-day moving average price is $16.05 and its 200 day moving average price is $17.57. Travere Therapeutics, Inc. has a twelve month low of $8.50 and a twelve month high of $25.29. The company has a market capitalization of $1.60 billion, a PE ratio of -8.78 and a beta of 0.74. The company has a current ratio of 2.00, a quick ratio of 1.98 and a debt-to-equity ratio of 9.50.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.14. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The firm had revenue of $94.84 million for the quarter, compared to the consensus estimate of $100.18 million. During the same period in the prior year, the business posted ($0.65) earnings per share. The firm’s revenue for the quarter was up 111.5% compared to the same quarter last year. On average, research analysts predict that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Analysts Set New Price Targets

TVTX has been the topic of several recent research reports. Wedbush boosted their price objective on shares of Travere Therapeutics from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Citigroup reiterated a “buy” rating on shares of Travere Therapeutics in a research report on Sunday, August 10th. Wall Street Zen lowered shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a research report on Sunday. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Travere Therapeutics in a research report on Tuesday, July 1st. Finally, Stifel Nicolaus lifted their price objective on Travere Therapeutics from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, May 2nd. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold 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 $32.21.

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.