Frazier Life Sciences Management L.P. Makes New Investment in Travere Therapeutics, Inc. $TVTX

Frazier Life Sciences Management L.P. purchased a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,002,092 shares of the company’s stock, valued at approximately $14,831,000. Frazier Life Sciences Management L.P. owned approximately 1.12% of Travere Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of TVTX. Raymond James Financial Inc. acquired a new stake in Travere Therapeutics during the second quarter worth about $33,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Travere Therapeutics in the first quarter worth $62,000. Atria Investments Inc purchased a new position in shares of Travere Therapeutics in the 2nd quarter valued at $154,000. Gallagher Fiduciary Advisors LLC purchased a new stake in Travere Therapeutics during the 2nd quarter worth $155,000. Finally, Corton Capital Inc. acquired a new stake in Travere Therapeutics in the 2nd quarter valued at $159,000.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $47.00 price target on shares of Travere Therapeutics in a report on Friday, November 28th. TD Cowen raised their target price on shares of Travere Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Zacks Research lowered Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Stifel Nicolaus increased their price target on Travere Therapeutics from $20.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, September 12th. Finally, Wall Street Zen upgraded Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $38.71.

Insider Activity at Travere Therapeutics

In other news, CFO Christopher R. Cline sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $35.01, for a total value of $700,200.00. Following the completion of the sale, the chief financial officer directly owned 92,083 shares of the company’s stock, valued at approximately $3,223,825.83. This represents a 17.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eric M. Dube sold 27,128 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $30.12, for a total value of $817,095.36. Following the completion of the sale, the chief executive officer owned 419,173 shares of the company’s stock, valued at $12,625,490.76. This trade represents a 6.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 243,368 shares of company stock worth $7,910,972 in the last three months. Insiders own 4.19% of the company’s stock.

Travere Therapeutics Stock Performance

Shares of TVTX stock opened at $34.83 on Friday. Travere Therapeutics, Inc. has a 12-month low of $12.91 and a 12-month high of $37.50. The company has a debt-to-equity ratio of 4.23, a current ratio of 2.75 and a quick ratio of 2.71. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -32.86 and a beta of 0.89. The business has a 50 day simple moving average of $32.08 and a 200 day simple moving average of $22.81.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, October 30th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.59. Travere Therapeutics had a negative return on equity of 178.68% and a negative net margin of 20.32%.The firm had revenue of $164.86 million for the quarter, compared to the consensus estimate of $106.09 million. During the same quarter in the previous year, the business earned ($0.70) EPS. The firm’s revenue for the quarter was up 162.1% on a year-over-year basis. On average, equities research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

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.