97,573 Shares in Travere Therapeutics, Inc. $TVTX Acquired by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC bought a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 97,573 shares of the company’s stock, valued at approximately $5,543,000. Rice Hall James & Associates LLC owned 0.10% of Travere Therapeutics at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Travere Therapeutics in the second quarter worth approximately $33,000. GAMMA Investing LLC raised its position in shares of Travere Therapeutics by 53.4% during the 2nd 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 purchased a new position in shares of Travere Therapeutics during the 1st quarter valued at $35,000. State of Wyoming purchased a new position in shares of Travere Therapeutics during the 4th quarter valued at $37,000. Finally, Torren Management LLC bought a new position in Travere Therapeutics in the 4th quarter worth $38,000.

Insider Activity

In other Travere Therapeutics news, Director Roy D. Baynes sold 4,500 shares of the company’s 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. This represents a 9.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $500,700.00. Following the completion of the sale, the director directly owned 56,250 shares of the company’s stock, valued at $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.

Analyst Upgrades and Downgrades

TVTX has been the topic of a number of recent analyst reports. Citigroup raised their price target on Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings lowered Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 23rd. Canaccord Genuity Group increased their target price on Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wells Fargo & Company lifted their target price on Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Finally, HC Wainwright boosted their price target on Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.67.

Travere Therapeutics Price Performance

TVTX stock opened at $63.53 on Tuesday. Travere Therapeutics, Inc. has a 52 week low of $17.05 and a 52 week high of $66.24. The firm has a market capitalization of $5.99 billion, a P/E ratio of -138.11 and a beta of 1.12. The company has a fifty day simple moving average of $56.84 and a two-hundred day simple moving average of $42.75. The company has a quick ratio of 3.99, a current ratio of 4.05 and a debt-to-equity ratio of 24.58.

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 analysts’ consensus estimates of ($0.13) by $0.03. The firm had revenue of $169.58 million for the quarter, compared to the consensus estimate of $157.27 million. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The business’s quarterly revenue was up 48.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 EPS. Analysts anticipate that Travere Therapeutics, Inc. will post -0.56 earnings per share for the current fiscal year.

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.