BNP Paribas Financial Markets Makes New Investment in Travere Therapeutics, Inc. (NASDAQ:TVTX)

BNP Paribas Financial Markets purchased a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,209,810 shares of the company’s stock, valued at approximately $21,075,000.

Several other institutional investors have also modified their holdings of TVTX. Sterling Capital Management LLC increased its holdings in Travere Therapeutics by 859.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock valued at $41,000 after acquiring an additional 2,115 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Travere Therapeutics in the fourth quarter valued at approximately $53,000. Summit Investment Advisors Inc. increased its stake in shares of Travere Therapeutics by 9.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company’s stock worth $138,000 after purchasing an additional 667 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Travere Therapeutics during the 4th quarter worth approximately $182,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in Travere Therapeutics in the 4th quarter valued at approximately $192,000.

Travere Therapeutics Stock Down 2.1 %

Shares of NASDAQ:TVTX opened at $20.02 on Friday. The stock has a 50-day simple moving average of $18.07 and a 200-day simple moving average of $18.82. The stock has a market capitalization of $1.78 billion, a P/E ratio of -4.88 and a beta of 0.88. Travere Therapeutics, Inc. has a 1 year low of $6.01 and a 1 year high of $25.29. 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 (NASDAQ:TVTX) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $81.73 million during the quarter, compared to the consensus estimate of $77.44 million. During the same period in the previous year, the firm earned ($1.76) earnings per share. Travere Therapeutics’s revenue for the quarter was up 83.3% on a year-over-year basis. Equities analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. HC Wainwright raised their price target on Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Wedbush reissued an “outperform” rating and issued a $30.00 target price on shares of Travere Therapeutics in a research note on Friday, May 2nd. Canaccord Genuity Group lifted their price target on shares of Travere Therapeutics from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, April 10th. Guggenheim reissued a “buy” rating and set a $47.00 price objective on shares of Travere Therapeutics in a research note on Monday, April 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Travere Therapeutics in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.79.

Insider Buying and Selling

In other news, SVP William E. Rote sold 5,200 shares of the business’s stock in a transaction on 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 directly owns 98,519 shares of the company’s stock, valued at approximately $2,318,152.07. The trade was a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Christopher R. Cline sold 1,784 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $37,553.20. Following the sale, the chief financial officer now directly owns 93,126 shares of the company’s stock, valued at approximately $1,960,302.30. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 96,420 shares of company stock valued at $2,302,575. Company insiders own 4.19% of the company’s stock.

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.