Travere Therapeutics, Inc. $TVTX Shares Purchased by Legal & General Group Plc

Legal & General Group Plc boosted its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 536,925 shares of the company’s stock after purchasing an additional 16,333 shares during the quarter. Legal & General Group Plc owned approximately 0.60% of Travere Therapeutics worth $20,516,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Palisades Investment Partners LLC purchased a new stake in Travere Therapeutics during the fourth quarter valued at about $5,264,000. Essex Investment Management Co. LLC purchased a new stake in Travere Therapeutics during the third quarter valued at about $3,872,000. Hennion & Walsh Asset Management Inc. grew its position in Travere Therapeutics by 169.6% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 99,229 shares of the company’s stock valued at $3,792,000 after acquiring an additional 62,419 shares during the period. Apis Capital Advisors LLC purchased a new stake in Travere Therapeutics during the third quarter valued at about $3,967,000. Finally, Legato Capital Management LLC purchased a new stake in Travere Therapeutics during the third quarter valued at about $1,698,000.

Wall Street Analyst Weigh In

TVTX has been the subject of a number of research reports. Wells Fargo & Company boosted their price target on Travere Therapeutics from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Weiss Ratings raised Travere Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 21st. TD Cowen boosted their price target on Travere Therapeutics from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Wall Street Zen downgraded Travere Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Citigroup boosted their price target on Travere Therapeutics from $53.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Travere Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $47.83.

Insider Buying and Selling

In other news, insider William E. Rote sold 2,763 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $43.95, for a total value of $121,433.85. Following the completion of the sale, the insider owned 115,474 shares of the company’s stock, valued at $5,075,082.30. This represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy D. Baynes sold 4,500 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $46.65, for a total value of $209,925.00. Following the completion of the sale, the director directly owned 37,500 shares of the company’s stock, valued at $1,749,375. The trade was a 10.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 400,015 shares of company stock valued at $15,895,428. 4.44% of the stock is owned by insiders.

Travere Therapeutics Price Performance

Shares of NASDAQ TVTX opened at $47.18 on Monday. Travere Therapeutics, Inc. has a 1-year low of $13.88 and a 1-year high of $48.61. The business has a 50-day moving average of $37.94 and a 200-day moving average of $34.44. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of -205.12 and a beta of 1.13.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.29. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The company had revenue of $127.20 million during the quarter, compared to the consensus estimate of $136.23 million. During the same quarter in the prior year, the business earned ($0.47) earnings per share. The company’s revenue was up 55.6% compared to the same quarter last year. On average, equities analysts anticipate that Travere Therapeutics, Inc. will post -0.26 EPS for the current fiscal year.

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.