Empowered Funds LLC Makes New $4.98 Million Investment in Travere Therapeutics, Inc. $TVTX

Empowered Funds LLC acquired a new position in Travere Therapeutics, Inc. (NASDAQ:TVTX) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 87,608 shares of the company’s stock, valued at approximately $4,977,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Jupiter Topco LLC acquired a new position in Travere Therapeutics during the second quarter valued at approximately $643,299,000. Bank of America Corp DE acquired a new stake in shares of Travere Therapeutics in the second quarter worth $259,527,000. State Street Corp increased its position in shares of Travere Therapeutics by 47.8% in the fourth quarter. State Street Corp now owns 4,756,666 shares of the company’s stock worth $181,752,000 after acquiring an additional 1,538,827 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Travere Therapeutics by 3,331.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock valued at $28,715,000 after acquiring an additional 1,166,460 shares during the period. Finally, Fiera Capital Corp purchased a new position in shares of Travere Therapeutics in the 4th quarter valued at $33,398,000.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TVTX. Guggenheim upped their price target on shares of Travere Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Evercore set a $78.00 price objective on Travere Therapeutics in a research report on Monday, August 10th. Citigroup boosted their price objective on Travere Therapeutics from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Wedbush upped their target price on Travere Therapeutics from $61.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, Wells Fargo & Company increased 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. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $61.67.

Travere Therapeutics Price Performance

TVTX opened at $66.28 on Tuesday. Travere Therapeutics, Inc. has a twelve month low of $17.27 and a twelve month high of $67.85. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of -144.08 and a beta of 1.12. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58. The company has a fifty day simple moving average of $59.56 and a 200 day simple moving average of $45.20.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) EPS 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 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 revenue was up 48.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 EPS. Equities research analysts expect that Travere Therapeutics, Inc. will post -0.56 EPS for the current fiscal year.

Insider Activity

In related news, Director Roy D. Baynes sold 4,500 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $50.00, for a total value of $225,000.00. Following the completion of the transaction, the director owned 41,500 shares of the company’s stock, valued at approximately $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 accessible through 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 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.44% of the company’s stock.

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.