292,600 Shares in Travere Therapeutics, Inc. $TVTX Acquired by Elmind Capital LP

Elmind Capital LP bought a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 292,600 shares of the company’s stock, valued at approximately $16,622,606,000. Travere Therapeutics comprises approximately 4.2% of Elmind Capital LP’s holdings, making the stock its 10th largest position.

Several other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in shares of Travere Therapeutics during the 2nd quarter valued at $33,000. GAMMA Investing LLC lifted its position in 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 in the last quarter. Fifth Third Bancorp bought a new stake in Travere Therapeutics during the first quarter valued at about $35,000. State of Wyoming purchased a new stake in Travere Therapeutics in the fourth quarter worth about $37,000. Finally, Torren Management LLC bought a new position in shares of Travere Therapeutics in the fourth quarter worth about $38,000.

Analysts Set New Price Targets

TVTX has been the subject of several analyst reports. HC Wainwright increased their target price on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Citigroup lifted their price target on shares of Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Evercore set a $78.00 price objective on shares of Travere Therapeutics in a research note on Monday, August 10th. Piper Sandler restated an “overweight” rating on shares of Travere Therapeutics in a research report on Monday, August 17th. Finally, Guggenheim lifted their target price on shares of Travere Therapeutics from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.67.

Travere Therapeutics Stock Up 2.7%

NASDAQ TVTX opened at $67.01 on Wednesday. The stock’s 50 day moving average is $58.62 and its 200 day moving average is $44.16. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58. Travere Therapeutics, Inc. has a 12 month low of $17.05 and a 12 month high of $67.34. The stock has a market cap of $6.32 billion, a PE ratio of -145.67 and a beta of 1.12.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The business had revenue of $169.58 million during 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 company’s revenue was up 48.2% on a year-over-year basis. During the same period last year, the firm posted $0.13 EPS. Research analysts predict that Travere Therapeutics, Inc. will post -0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Roy D. Baynes sold 4,500 shares of the firm’s stock in a transaction 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 directly owned 41,500 shares of the company’s stock, valued at approximately $2,075,000. This trade represents a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 Timothy Coughlin sold 10,000 shares of Travere Therapeutics stock in a transaction 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 in the company, valued at approximately $2,816,437.50. This represents 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. 4.44% of the stock is currently owned by corporate insiders.

Travere Therapeutics 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.