Lisanti Capital Growth LLC Takes $6.76 Million Position in Travere Therapeutics, Inc. $TVTX

Lisanti Capital Growth LLC bought a new position in Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 119,005 shares of the company’s stock, valued at approximately $6,761,000. Travere Therapeutics comprises 1.5% of Lisanti Capital Growth LLC’s investment portfolio, making the stock its 17th largest position.

Other hedge funds also recently made changes to their positions in the company. S&CO Inc. purchased a new stake in shares of Travere Therapeutics during the second quarter worth about $3,181,000. Stephens Investment Management Group LLC grew its stake in shares of Travere Therapeutics by 7.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,721,623 shares of the company’s stock worth $65,783,000 after purchasing an additional 121,955 shares during the last quarter. Profund Advisors LLC increased its holdings in Travere Therapeutics by 209.3% during the 4th quarter. Profund Advisors LLC now owns 62,604 shares of the company’s stock valued at $2,392,000 after purchasing an additional 42,366 shares during the period. State of New Jersey Common Pension Fund D purchased a new position in Travere Therapeutics during the 4th quarter valued at about $1,104,000. Finally, Quantinno Capital Management LP raised its position in Travere Therapeutics by 354.4% during the 1st quarter. Quantinno Capital Management LP now owns 68,317 shares of the company’s stock valued at $2,030,000 after purchasing an additional 53,283 shares during the last quarter.

Analyst Upgrades and Downgrades

TVTX has been the subject of several research analyst reports. Citigroup increased their price objective on Travere Therapeutics from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Wall Street Zen cut Travere Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Canaccord Genuity Group upped their target price on Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Guggenheim raised their price target on Travere Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Wedbush lifted their price target on shares of Travere Therapeutics from $61.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $61.67.

Travere Therapeutics Stock Performance

Shares of TVTX opened at $65.96 on Thursday. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.99. Travere Therapeutics, Inc. has a one year low of $17.05 and a one year high of $66.24. The company has a 50-day simple moving average of $57.53 and a two-hundred day simple moving average of $43.22. The firm has a market capitalization of $6.22 billion, a PE ratio of -143.39 and a beta of 1.12.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.03. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.The business had revenue of $169.58 million for the quarter, compared to analysts’ expectations of $157.27 million. During the same period in the previous year, the firm posted $0.13 EPS. The business’s revenue was up 48.2% on a year-over-year basis. On average, analysts anticipate that Travere Therapeutics, Inc. will post -0.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Roy D. Baynes sold 4,500 shares of Travere Therapeutics stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $50.00, for a total transaction of $225,000.00. Following the sale, the director directly owned 41,500 shares in the company, valued at $2,075,000. The trade was a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $50.07, for a total value of $500,700.00. Following the completion of the sale, the director directly owned 56,250 shares in the company, valued at approximately $2,816,437.50. The trade was a 15.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.44% of the company’s stock.

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.