Oppenheimer & Co. Inc. Takes Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Oppenheimer & Co. Inc. acquired a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the third quarter, Holdings Channel reports. The fund acquired 48,139 shares of the company’s stock, valued at approximately $673,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position in Travere Therapeutics by 79.2% during the first quarter. Russell Investments Group Ltd. now owns 184,623 shares of the company’s stock worth $1,423,000 after buying an additional 81,611 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Travere Therapeutics by 9.2% in the 1st quarter. ProShare Advisors LLC now owns 18,421 shares of the company’s stock valued at $142,000 after acquiring an additional 1,557 shares during the period. Vanguard Group Inc. boosted its stake in Travere Therapeutics by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock worth $48,310,000 after acquiring an additional 750,686 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Travere Therapeutics during the first quarter valued at approximately $368,000. Finally, EntryPoint Capital LLC acquired a new position in Travere Therapeutics during the first quarter valued at approximately $32,000.

Travere Therapeutics Trading Up 2.7 %

NASDAQ:TVTX opened at $17.86 on Thursday. The business has a 50 day moving average price of $16.56 and a two-hundred day moving average price of $11.24. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The company has a market cap of $1.39 billion, a P/E ratio of -3.93 and a beta of 0.70. Travere Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $20.33.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.01. The firm had revenue of $62.90 million during 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 quarterly revenue was up 69.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.17) earnings per share. As a group, analysts expect that Travere Therapeutics, Inc. will post -3.93 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Canaccord Genuity Group reduced their price target on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Piper Sandler lifted their target price on Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Bank of America boosted their target price on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. Finally, Citigroup decreased their price objective on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.62.

Insider Activity at Travere Therapeutics

In related news, Director Gary A. Lyons sold 40,000 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $14.73, for a total value of $589,200.00. Following the sale, the director now owns 51,000 shares in the company, valued at approximately $751,230. This represents a 43.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jula Inrig sold 2,191 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $25,240.32. Following the completion of the transaction, the insider now owns 62,633 shares in the company, valued at approximately $721,532.16. This represents a 3.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,707 shares of company stock valued at $1,504,312. 4.06% of the stock is owned by corporate insiders.

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.