470,400 Shares in Travere Therapeutics, Inc. $TVTX Purchased by Legal & General Group Plc

Legal & General Group Plc purchased a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 470,400 shares of the company’s stock, valued at approximately $26,723,000.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Travere Therapeutics in the 2nd quarter worth approximately $33,000. GAMMA Investing LLC increased its position in shares of Travere Therapeutics by 53.4% during the second quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after purchasing an additional 211 shares during the period. Fifth Third Bancorp acquired a new position in shares of Travere Therapeutics in the first quarter valued at $35,000. State of Wyoming acquired a new position in shares of Travere Therapeutics in the fourth quarter valued at $37,000. Finally, Comerica Bank lifted its position in Travere Therapeutics by 77.5% in the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after purchasing an additional 492 shares during the period.

Travere Therapeutics Stock Down 2.7%

Shares of NASDAQ TVTX opened at $65.67 on Friday. Travere Therapeutics, Inc. has a 52-week low of $17.27 and a 52-week high of $67.85. The company has a debt-to-equity ratio of 24.58, a quick ratio of 3.99 and a current ratio of 4.05. The business has a fifty day moving average of $59.34 and a two-hundred day moving average of $44.84. The stock has a market cap of $6.19 billion, a PE ratio of -142.76 and a beta of 1.12.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.03. The business had revenue of $169.58 million for the quarter, compared to analyst estimates of $157.27 million. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The firm’s quarterly revenue was up 48.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 EPS. As a group, equities research analysts expect that Travere Therapeutics, Inc. will post -0.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on TVTX. Weiss Ratings lowered shares of Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Piper Sandler reaffirmed an “overweight” rating on shares of Travere Therapeutics in a report on Monday, August 17th. Wells Fargo & Company lifted their target price on shares of Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Citigroup upped their target price on shares of Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Canaccord Genuity Group increased their price target on shares of Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Travere Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $61.67.

Insider Activity

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

Travere Therapeutics Company 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.