Stephens Investment Management Group LLC Buys 76,843 Shares of Travere Therapeutics, Inc. $TVTX

Stephens Investment Management Group LLC grew its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 4.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,798,466 shares of the company’s stock after buying an additional 76,843 shares during the quarter. Stephens Investment Management Group LLC owned 1.95% of Travere Therapeutics worth $53,432,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Private Advisor Group LLC boosted its holdings in Travere Therapeutics by 24.3% during the 1st quarter. Private Advisor Group LLC now owns 15,422 shares of the company’s stock valued at $458,000 after acquiring an additional 3,010 shares during the period. Y Intercept Hong Kong Ltd increased its stake in Travere Therapeutics by 196.6% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 117,361 shares of the company’s stock worth $3,487,000 after purchasing an additional 77,793 shares during the period. SG Americas Securities LLC increased its stake in Travere Therapeutics by 60.4% in the 1st quarter. SG Americas Securities LLC now owns 54,691 shares of the company’s stock worth $1,625,000 after purchasing an additional 20,591 shares during the period. Diversified Trust Co lifted its position in Travere Therapeutics by 12.4% in the first quarter. Diversified Trust Co now owns 28,161 shares of the company’s stock valued at $837,000 after purchasing an additional 3,117 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in Travere Therapeutics by 1,604.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,642 shares of the company’s stock valued at $101,000 after purchasing an additional 2,487 shares during the last quarter.

Insiders Place Their Bets

In other Travere Therapeutics news, insider Jula Inrig sold 20,000 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $45.00, for a total value of $900,000.00. Following the completion of the transaction, the insider owned 111,473 shares in the company, valued at approximately $5,016,285. This represents a 15.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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. Also, CAO Sandra Calvin sold 21,977 shares of the company’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $41.07, for a total transaction of $902,595.39. Following the completion of the sale, the chief accounting officer directly owned 42,353 shares in the company, valued at $1,739,437.71. This represents a 34.16% 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. Insiders have sold 334,515 shares of company stock valued at $14,184,428 in the last 90 days. Corporate insiders own 4.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TVTX shares. Guggenheim raised their target price on shares of Travere Therapeutics from $56.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Wall Street Zen lowered shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Canaccord Genuity Group upped their price target on shares of Travere Therapeutics from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Citigroup increased their price target on shares of Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Finally, HC Wainwright raised their price target on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Travere Therapeutics has an average rating of “Moderate Buy” and an average price target of $52.08.

Travere Therapeutics Stock Performance

Travere Therapeutics stock opened at $56.90 on Friday. Travere Therapeutics, Inc. has a fifty-two week low of $14.44 and a fifty-two week high of $60.10. The stock’s 50 day simple moving average is $47.98 and its two-hundred day simple moving average is $37.47. The company has a debt-to-equity ratio of 3.16, a quick ratio of 3.08 and a current ratio of 3.13. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of -247.38 and a beta of 1.10.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Monday, May 4th. The company reported $0.05 earnings per share (EPS) 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 firm had revenue of $127.20 million during the quarter, compared to analyst estimates of $136.23 million. During the same quarter in the prior year, the company earned ($0.47) EPS. The business’s revenue was up 55.6% compared to the same quarter last year. As a group, analysts expect that Travere Therapeutics, Inc. will post -0.25 earnings per share 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.