Stephens Investment Management Group LLC Purchases Shares of 1,599,668 Travere Therapeutics, Inc. $TVTX

Stephens Investment Management Group LLC purchased a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,599,668 shares of the company’s stock, valued at approximately $38,232,000. Stephens Investment Management Group LLC owned approximately 1.79% of Travere Therapeutics at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Travere Therapeutics by 13.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,777 shares of the company’s stock worth $1,029,000 after acquiring an additional 6,831 shares during the period. Assenagon Asset Management S.A. raised its position in Travere Therapeutics by 166.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,103,075 shares of the company’s stock worth $16,326,000 after buying an additional 689,561 shares during the last quarter. Diversified Trust Co lifted its stake in Travere Therapeutics by 43.5% during the 2nd quarter. Diversified Trust Co now owns 22,899 shares of the company’s stock valued at $339,000 after acquiring an additional 6,940 shares during the period. KLP Kapitalforvaltning AS boosted its holdings in shares of Travere Therapeutics by 30.0% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 19,500 shares of the company’s stock valued at $289,000 after acquiring an additional 4,500 shares during the last quarter. Finally, Aberdeen Group plc increased its stake in shares of Travere Therapeutics by 86.6% in the second quarter. Aberdeen Group plc now owns 896,594 shares of the company’s stock worth $13,270,000 after acquiring an additional 416,225 shares during the period.

Insider Activity

In other news, Director Timothy Coughlin sold 18,000 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $35.03, for a total transaction of $630,540.00. Following the completion of the transaction, the director directly owned 55,500 shares in the company, valued at $1,944,165. This trade represents a 24.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Sandra Calvin sold 67,115 shares of the firm’s stock in a transaction on 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 transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 323,226 shares of company stock worth $11,290,656 in the last three months. 4.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, October 8th. Citigroup raised their price objective on shares of Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. HC Wainwright reissued a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a report on Friday, November 28th. Guggenheim reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Travere Therapeutics in a report on Wednesday. Finally, Piper Sandler upped their price objective on shares of Travere Therapeutics from $26.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.86.

Travere Therapeutics Stock Down 1.9%

Shares of NASDAQ:TVTX opened at $27.87 on Friday. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of -26.29, a PEG ratio of 1.03 and a beta of 0.85. Travere Therapeutics, Inc. has a 12-month low of $12.91 and a 12-month high of $42.13. The business has a 50-day moving average price of $35.33 and a 200 day moving average price of $26.39. The company has a current ratio of 2.75, a quick ratio of 2.71 and a debt-to-equity ratio of 4.23.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, October 30th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.59. The company had revenue of $164.86 million during the quarter, compared to analyst estimates of $106.09 million. Travere Therapeutics had a negative net margin of 20.32% and a negative return on equity of 178.68%. Travere Therapeutics’s revenue was up 162.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.70) earnings per share. Sell-side analysts expect that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Travere Therapeutics Profile

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.