Impax Asset Management Group plc Takes $5.23 Million Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Impax Asset Management Group plc bought a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 4th quarter, HoldingsChannel reports. The fund bought 300,000 shares of the company’s stock, valued at approximately $5,226,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning boosted its holdings in shares of Travere Therapeutics by 4.3% in the third quarter. Creative Planning now owns 23,938 shares of the company’s stock valued at $335,000 after acquiring an additional 995 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Travere Therapeutics by 2.2% in the fourth quarter. Rhumbline Advisers now owns 121,248 shares of the company’s stock valued at $2,112,000 after acquiring an additional 2,640 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Travere Therapeutics in the fourth quarter valued at about $53,000. CWM LLC boosted its holdings in shares of Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after acquiring an additional 3,065 shares in the last quarter. Finally, Diversified Trust Co boosted its holdings in shares of Travere Therapeutics by 27.5% in the fourth quarter. Diversified Trust Co now owns 14,701 shares of the company’s stock valued at $256,000 after acquiring an additional 3,169 shares in the last quarter.

Travere Therapeutics Stock Performance

Shares of TVTX opened at $21.23 on Tuesday. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The stock has a market cap of $1.66 billion, a P/E ratio of -5.18 and a beta of 0.72. The company has a 50-day moving average of $19.75 and a two-hundred day moving average of $16.77. Travere Therapeutics, Inc. has a 12-month low of $5.12 and a 12-month high of $25.29.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The company had revenue of $74.79 million for the quarter, compared to analysts’ expectations of $72.38 million. As a group, research analysts predict that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TVTX shares. HC Wainwright raised their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Scotiabank raised their price objective on shares of Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group raised their price objective on shares of Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Evercore ISI raised their price objective on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Travere Therapeutics in a research note on Friday. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Travere Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

Insider Transactions at Travere Therapeutics

In related news, CFO Christopher R. Cline sold 5,192 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $20.12, for a total transaction of $104,463.04. Following the sale, the chief financial officer now owns 90,038 shares in the company, valued at approximately $1,811,564.56. This trade represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric M. Dube sold 11,375 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $24.04, for a total value of $273,455.00. Following the completion of the transaction, the chief executive officer now owns 419,173 shares of the company’s stock, valued at $10,076,918.92. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,335 shares of company stock worth $4,453,012 over the last ninety days. 3.75% of the stock is currently owned by corporate insiders.

Travere Therapeutics Profile

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.