Travere Therapeutics, Inc. $TVTX Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 44.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,511 shares of the company’s stock after buying an additional 23,675 shares during the period. Franklin Resources Inc.’s holdings in Travere Therapeutics were worth $1,132,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TVTX. Armistice Capital LLC boosted its holdings in shares of Travere Therapeutics by 20.6% in the first quarter. Armistice Capital LLC now owns 8,872,000 shares of the company’s stock valued at $158,986,000 after acquiring an additional 1,514,000 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in Travere Therapeutics by 24.8% in the 1st quarter. Driehaus Capital Management LLC now owns 2,767,693 shares of the company’s stock valued at $49,597,000 after purchasing an additional 549,718 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in Travere Therapeutics by 479.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,184,898 shares of the company’s stock worth $39,153,000 after purchasing an additional 1,808,098 shares during the period. Emerald Advisers LLC raised its stake in shares of Travere Therapeutics by 0.7% during the 2nd quarter. Emerald Advisers LLC now owns 2,091,360 shares of the company’s stock worth $30,952,000 after buying an additional 14,187 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Travere Therapeutics by 1.4% during the second quarter. Geode Capital Management LLC now owns 2,003,701 shares of the company’s stock worth $29,658,000 after acquiring an additional 27,040 shares during the period.

Insiders Place Their Bets

In related news, CEO Eric M. Dube sold 27,128 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $30.12, for a total transaction of $817,095.36. Following the sale, the chief executive officer owned 419,173 shares of the company’s stock, valued at $12,625,490.76. This trade represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sandra Calvin sold 67,115 shares of Travere Therapeutics stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $36.00, for a total value of $2,416,140.00. Following the sale, the chief accounting officer owned 48,545 shares of the company’s stock, valued at approximately $1,747,620. This represents a 58.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 243,368 shares of company stock valued at $7,910,972. Insiders own 4.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TVTX shares. Wells Fargo & Company boosted their target price on shares of Travere Therapeutics from $27.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Zacks Research cut shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. HC Wainwright reiterated a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a research report on Friday, November 28th. Jefferies Financial Group set a $35.00 price target on Travere Therapeutics in a report on Wednesday, September 10th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.71.

Travere Therapeutics Stock Down 0.9%

TVTX stock opened at $35.00 on Friday. The company has a debt-to-equity ratio of 4.23, a current ratio of 2.75 and a quick ratio of 2.71. The company’s 50 day simple moving average is $31.05 and its 200-day simple moving average is $22.18. Travere Therapeutics, Inc. has a 12 month low of $12.91 and a 12 month high of $37.50. The firm has a market capitalization of $3.13 billion, a PE ratio of -33.02 and a beta of 0.89.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Thursday, October 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.59. The firm had revenue of $164.86 million for the quarter, compared to analyst estimates of $106.09 million. Travere Therapeutics had a negative return on equity of 178.68% and a negative net margin of 20.32%.Travere Therapeutics’s revenue was up 162.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.70) EPS. Equities analysts expect 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.