Jacobs Levy Equity Management Inc. Has $37.88 Million Stock Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Jacobs Levy Equity Management Inc. raised its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 36.7% in the 4th quarter, HoldingsChannel reports. The firm owned 2,174,213 shares of the company’s stock after buying an additional 583,836 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Travere Therapeutics were worth $37,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in TVTX. Diversified Trust Co lifted its holdings in Travere Therapeutics by 27.5% during the 4th quarter. Diversified Trust Co now owns 14,701 shares of the company’s stock valued at $256,000 after purchasing an additional 3,169 shares during the last quarter. R Squared Ltd bought a new position in Travere Therapeutics during the 4th quarter worth $53,000. Baader Bank Aktiengesellschaft bought a new position in Travere Therapeutics during the 4th quarter worth $192,000. China Universal Asset Management Co. Ltd. increased its position in Travere Therapeutics by 23.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,206 shares of the company’s stock worth $317,000 after buying an additional 3,494 shares during the period. Finally, Jennison Associates LLC bought a new position in Travere Therapeutics during the 4th quarter worth $14,222,000.

Insider Activity at Travere Therapeutics

In related news, CAO Sandra Calvin sold 54,244 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total value of $1,356,100.00. Following the sale, the chief accounting officer now directly owns 54,410 shares of the company’s stock, valued at $1,360,250. This trade represents a 49.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Eric M. Dube sold 11,375 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 419,173 shares in the company, 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 have sold 96,420 shares of company stock valued at $2,302,575 over the last ninety days. 4.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Evercore ISI increased their price objective on Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. increased their price objective on Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and set a $47.00 price objective on shares of Travere Therapeutics in a research report on Monday, April 14th. Wedbush reiterated an “outperform” rating and set a $30.00 price objective on shares of Travere Therapeutics in a research report on Friday, May 2nd. Finally, Stifel Nicolaus increased their price objective on Travere Therapeutics from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $31.79.

Travere Therapeutics Stock Performance

TVTX opened at $20.02 on Monday. The firm has a market cap of $1.78 billion, a P/E ratio of -4.88 and a beta of 0.88. Travere Therapeutics, Inc. has a 52-week low of $6.01 and a 52-week high of $25.29. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The business’s fifty day moving average is $18.07 and its 200-day moving average is $18.83.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.08. The business had revenue of $81.73 million for the quarter, compared to analyst estimates of $77.44 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. Travere Therapeutics’s revenue was up 83.3% compared to the same quarter last year. During the same period last year, the firm posted ($1.76) earnings per share. Sell-side analysts expect that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal 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.