Travere Therapeutics, Inc. (NASDAQ:TVTX) Stake Increased by Finepoint Capital LP

Finepoint Capital LP boosted its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,782,267 shares of the company’s stock after acquiring an additional 5,539 shares during the quarter. Travere Therapeutics comprises approximately 1.8% of Finepoint Capital LP’s portfolio, making the stock its 6th biggest holding. Finepoint Capital LP owned about 2.28% of Travere Therapeutics worth $24,934,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Russell Investments Group Ltd. increased its holdings in shares of Travere Therapeutics by 79.2% in the 1st quarter. Russell Investments Group Ltd. now owns 184,623 shares of the company’s stock valued at $1,423,000 after purchasing an additional 81,611 shares in the last quarter. ProShare Advisors LLC grew its position in Travere Therapeutics by 9.2% during the first quarter. ProShare Advisors LLC now owns 18,421 shares of the company’s stock worth $142,000 after buying an additional 1,557 shares during the period. Vanguard Group Inc. increased its holdings in Travere Therapeutics by 13.6% in the first quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock valued at $48,310,000 after buying an additional 750,686 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Travere Therapeutics during the 1st quarter valued at approximately $32,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Travere Therapeutics by 10.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,009 shares of the company’s stock worth $240,000 after acquiring an additional 2,948 shares in the last quarter.

Insiders Place Their Bets

In other Travere Therapeutics news, CFO Christopher R. Cline sold 2,490 shares of Travere Therapeutics stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $28,684.80. Following the transaction, the chief financial officer now owns 74,595 shares in the company, valued at $859,334.40. This trade represents a 3.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sandra Calvin sold 12,090 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $18.30, for a total value of $221,247.00. Following the sale, the chief accounting officer now owns 54,927 shares of the company’s stock, valued at approximately $1,005,164.10. The trade was a 18.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,797 shares of company stock valued at $1,725,559. Insiders own 4.06% of the company’s stock.

Travere Therapeutics Stock Down 0.4 %

Shares of NASDAQ TVTX opened at $18.18 on Tuesday. The firm has a market cap of $1.42 billion, a P/E ratio of -4.00 and a beta of 0.70. 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 1 year low of $5.12 and a 1 year high of $20.33. The firm’s 50 day moving average price is $16.85 and its 200 day moving average price is $11.52.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.01. The business had revenue of $62.90 million for the quarter, compared to analysts’ expectations of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The business’s revenue was up 69.6% on a year-over-year basis. During the same quarter last year, the firm earned ($1.17) earnings per share. As a group, sell-side analysts anticipate that Travere Therapeutics, Inc. will post -3.93 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on TVTX. Guggenheim raised their price objective on Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Wedbush raised their price target on Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Scotiabank lifted their price target on Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. Barclays increased their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Citigroup dropped their target price on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.62.

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.