Franklin Resources Inc. Boosts Stock Holdings in Travere Therapeutics, Inc. $TVTX

Franklin Resources Inc. lifted its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 44.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,511 shares of the company’s stock after purchasing an additional 23,675 shares during the period. Franklin Resources Inc. owned about 0.09% of Travere Therapeutics worth $1,132,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Teacher Retirement System of Texas raised its position in Travere Therapeutics by 3.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 22,688 shares of the company’s stock valued at $336,000 after purchasing an additional 773 shares in the last quarter. E Fund Management Co. Ltd. increased its stake in shares of Travere Therapeutics by 8.6% during the first quarter. E Fund Management Co. Ltd. now owns 13,553 shares of the company’s stock worth $243,000 after buying an additional 1,072 shares during the period. Oak Ridge Investments LLC raised its holdings in Travere Therapeutics by 2.8% in the first quarter. Oak Ridge Investments LLC now owns 54,070 shares of the company’s stock valued at $969,000 after acquiring an additional 1,471 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its holdings in Travere Therapeutics by 9.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 19,764 shares of the company’s stock valued at $293,000 after acquiring an additional 1,661 shares in the last quarter. Finally, Entropy Technologies LP lifted its stake in Travere Therapeutics by 18.6% in the first quarter. Entropy Technologies LP now owns 14,592 shares of the company’s stock worth $261,000 after acquiring an additional 2,292 shares during the last quarter.

Travere Therapeutics Stock Down 0.9%

Travere Therapeutics stock opened at $35.00 on Friday. The company has a market capitalization of $3.13 billion, a P/E ratio of -33.02 and a beta of 0.89. The company has a debt-to-equity ratio of 4.23, a quick ratio of 2.71 and a current ratio of 2.75. Travere Therapeutics, Inc. has a fifty-two week low of $12.91 and a fifty-two week high of $37.50. The stock has a 50-day simple moving average of $31.05 and a 200-day simple moving average of $22.18.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of ($0.31) by $0.59. Travere Therapeutics had a negative return on equity of 178.68% and a negative net margin of 20.32%.The company had revenue of $164.86 million for the quarter, compared to analyst estimates of $106.09 million. During the same quarter in the previous year, the company posted ($0.70) earnings per share. The firm’s revenue was up 162.1% compared to the same quarter last year. Equities research analysts expect that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TVTX. Piper Sandler lifted their price objective on shares of Travere Therapeutics from $26.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. HC Wainwright reaffirmed a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a report on Friday, November 28th. Cowen reiterated a “buy” rating on shares of Travere Therapeutics in a report on Friday, October 31st. Zacks Research lowered Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Stifel Nicolaus upped their price target on Travere Therapeutics from $20.00 to $25.00 and gave the company a “hold” rating in a report on Friday, September 12th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.71.

Insiders Place Their Bets

In other Travere Therapeutics news, CEO Eric M. Dube sold 92,872 shares of Travere Therapeutics stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $30.38, for a total value of $2,821,451.36. Following the transaction, the chief executive officer directly owned 419,173 shares in the company, valued at approximately $12,734,475.74. The trade was a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher R. Cline sold 20,000 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $35.01, for a total transaction of $700,200.00. Following the completion of the sale, the chief financial officer directly owned 92,083 shares of the company’s stock, valued at $3,223,825.83. The trade was a 17.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 243,368 shares of company stock worth $7,910,972. Corporate insiders own 4.19% of the company’s stock.

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.