JW Asset Management LLC Acquires Shares of 30,000 Travere Therapeutics, Inc. $TVTX

JW Asset Management LLC bought a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the second quarter, HoldingsChannel reports. The firm bought 30,000 shares of the company’s stock, valued at approximately $1,704,000. Travere Therapeutics makes up approximately 0.5% of JW Asset Management LLC’s holdings, making the stock its 13th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Travere Therapeutics in the 2nd quarter worth about $33,000. GAMMA Investing LLC boosted its stake in Travere Therapeutics by 53.4% during the second quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock worth $34,000 after acquiring an additional 211 shares in the last quarter. Fifth Third Bancorp bought a new stake in Travere Therapeutics during the first quarter worth about $35,000. State of Wyoming purchased a new stake in shares of Travere Therapeutics in the 4th quarter worth approximately $37,000. Finally, Comerica Bank raised its stake in Travere Therapeutics by 77.5% during the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after buying an additional 492 shares during the last quarter.

Analyst Upgrades and Downgrades

TVTX has been the topic of a number of recent research reports. Evercore set a $78.00 target price on Travere Therapeutics in a research note on Monday, August 10th. Citigroup upped their price target on shares of Travere Therapeutics from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. TD Cowen increased their price objective on shares of Travere Therapeutics from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings lowered shares of Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Travere Therapeutics in a report on Monday, August 17th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.67.

Travere Therapeutics Stock Up 1.2%

TVTX traded up $0.79 during trading on Tuesday, hitting $66.07. 1,360,821 shares of the company’s stock traded hands, compared to its average volume of 2,028,757. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of -143.63 and a beta of 1.05. The company’s 50 day simple moving average is $60.36 and its two-hundred day simple moving average is $46.50. Travere Therapeutics, Inc. has a 12-month low of $20.84 and a 12-month high of $68.03. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.03. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.The firm had revenue of $169.58 million during the quarter, compared to analysts’ expectations of $157.27 million. During the same quarter in the previous year, the business earned $0.13 earnings per share. The company’s revenue was up 48.2% on a year-over-year basis. Analysts predict that Travere Therapeutics, Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other news, Director Roy D. Baynes sold 4,500 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.00, for a total transaction of $225,000.00. Following the sale, the director owned 41,500 shares of the company’s stock, valued at $2,075,000. This trade represents a 9.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of Travere Therapeutics stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $50.07, for a total transaction of $500,700.00. Following the completion of the sale, the director owned 56,250 shares of the company’s stock, valued at $2,816,437.50. This represents a 15.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.44% of the stock is currently owned by insiders.

About Travere Therapeutics

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.