Burney Co. Acquires Shares of 39,724 Travere Therapeutics, Inc. $TVTX

Burney Co. bought a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 39,724 shares of the company’s stock, valued at approximately $1,180,000.

Other hedge funds also recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Travere Therapeutics by 47.8% in the 4th quarter. State Street Corp now owns 4,756,666 shares of the company’s stock valued at $181,752,000 after acquiring an additional 1,538,827 shares during the last quarter. Perceptive Advisors LLC increased its stake in Travere Therapeutics by 12.7% during the fourth quarter. Perceptive Advisors LLC now owns 4,278,180 shares of the company’s stock valued at $163,469,000 after purchasing an additional 483,565 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Travere Therapeutics by 27.4% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company’s stock valued at $41,203,000 after purchasing an additional 599,102 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Travere Therapeutics by 28.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,246,779 shares of the company’s stock worth $85,849,000 after purchasing an additional 494,665 shares during the period. Finally, Rock Springs Capital Management LP raised its holdings in shares of Travere Therapeutics by 2.1% during the fourth quarter. Rock Springs Capital Management LP now owns 2,210,322 shares of the company’s stock worth $84,456,000 after purchasing an additional 45,549 shares during the period.

Analyst Ratings Changes

TVTX has been the topic of several research reports. Piper Sandler upgraded shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price objective on the stock in a research note on Tuesday, April 14th. TD Cowen lifted their target price on Travere Therapeutics from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Citigroup upped their target price on Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a report on Monday, June 15th. HC Wainwright increased their price target on Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, Guggenheim raised their price target on Travere Therapeutics from $56.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.08.

Insiders Place Their Bets

In related news, Director Roy D. Baynes sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $50.00, for a total value of $225,000.00. Following the completion of the transaction, the director owned 41,500 shares of the company’s stock, valued at approximately $2,075,000. This trade represents a 9.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth E. Reed sold 2,076 shares of Travere Therapeutics stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $43.95, for a total value of $91,240.20. Following the transaction, the insider owned 105,211 shares in the company, valued at $4,624,023.45. This represents a 1.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 324,515 shares of company stock worth $13,854,428 in the last quarter. Corporate insiders own 4.44% of the company’s stock.

Travere Therapeutics Stock Performance

Shares of TVTX stock opened at $58.36 on Thursday. Travere Therapeutics, Inc. has a 12-month low of $15.03 and a 12-month high of $60.10. 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 firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of -253.73 and a beta of 1.10. The business has a 50 day simple moving average of $49.01 and a 200 day simple moving average of $37.98.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Monday, May 4th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.24) by $0.29. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The firm had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $136.23 million. During the same quarter last year, the company earned ($0.47) EPS. Travere Therapeutics’s quarterly revenue was up 55.6% on a year-over-year basis. On average, equities research analysts anticipate that Travere Therapeutics, Inc. will post -0.25 EPS for the current 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.