Travere Therapeutics, Inc. (NASDAQ:TVTX) Shares Purchased by Crestline Management LP

Crestline Management LP grew its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 53.9% during the fourth quarter, Holdings Channel reports. The firm owned 185,840 shares of the company’s stock after purchasing an additional 65,115 shares during the period. Crestline Management LP’s holdings in Travere Therapeutics were worth $3,237,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Diversified Trust Co raised its stake in Travere Therapeutics by 27.5% during the 4th quarter. Diversified Trust Co now owns 14,701 shares of the company’s stock worth $256,000 after acquiring an additional 3,169 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth about $53,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Travere Therapeutics in the 4th quarter valued at about $192,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Travere Therapeutics by 23.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,206 shares of the company’s stock valued at $317,000 after purchasing an additional 3,494 shares during the period. Finally, Jennison Associates LLC purchased a new position in Travere Therapeutics during the 4th quarter worth approximately $14,222,000.

Analysts Set New Price Targets

TVTX has been the subject of several research analyst reports. HC Wainwright increased their price objective on Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Bank of America raised their price objective on shares of Travere Therapeutics from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. Canaccord Genuity Group lifted their price objective on shares of Travere Therapeutics from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, April 10th. Wedbush reiterated an “outperform” rating and set a $30.00 target price on shares of Travere Therapeutics in a research note on Friday, May 2nd. Finally, Guggenheim restated a “buy” rating and issued a $47.00 price target on shares of Travere Therapeutics in a research report on Monday, April 14th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Travere Therapeutics has an average rating of “Moderate Buy” and an average target price of $31.79.

Insider Buying and Selling

In related news, CAO Sandra Calvin sold 54,244 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total value of $1,356,100.00. Following the sale, the chief accounting officer now directly owns 54,410 shares in the company, valued at $1,360,250. The trade was a 49.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William E. Rote sold 5,200 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $23.53, for a total transaction of $122,356.00. Following the transaction, the senior vice president now owns 98,519 shares of the company’s stock, valued at $2,318,152.07. This trade represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,420 shares of company stock worth $2,302,575 in the last quarter. Company insiders own 4.19% of the company’s stock.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $20.23 on Thursday. 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 $6.01 and a one year high of $25.29. The company has a market cap of $1.80 billion, a P/E ratio of -4.93 and a beta of 0.88. The business has a fifty day moving average of $18.05 and a two-hundred day moving average of $18.79.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.08. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The firm had revenue of $81.73 million for the quarter, compared to the consensus estimate of $77.44 million. During the same quarter in the previous year, the firm earned ($1.76) earnings per share. The firm’s revenue was up 83.3% on a year-over-year basis. As a group, analysts predict that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

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.