Woodline Partners LP Has $36.83 Million Stock Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Woodline Partners LP decreased its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 51.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,114,056 shares of the company’s stock after selling 2,226,284 shares during the period. Woodline Partners LP owned 2.71% of Travere Therapeutics worth $36,827,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TVTX. Driehaus Capital Management LLC raised its stake in shares of Travere Therapeutics by 608.1% during the 4th quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company’s stock worth $38,637,000 after purchasing an additional 1,904,733 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Travere Therapeutics in the fourth quarter worth approximately $21,075,000. RA Capital Management L.P. bought a new position in Travere Therapeutics during the fourth quarter valued at approximately $20,033,000. Jennison Associates LLC acquired a new stake in Travere Therapeutics in the fourth quarter valued at approximately $14,222,000. Finally, Jacobs Levy Equity Management Inc. grew its position in Travere Therapeutics by 36.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company’s stock worth $37,875,000 after acquiring an additional 583,836 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Guggenheim reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Travere Therapeutics in a research note on Monday, April 14th. Canaccord Genuity Group boosted their price target on Travere Therapeutics from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, April 10th. Wedbush reissued an “outperform” rating and set a $30.00 price objective on shares of Travere Therapeutics in a report on Friday, May 16th. Stifel Nicolaus raised their price objective on Travere Therapeutics from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Friday, May 2nd. Finally, Evercore ISI boosted their target price on Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Travere Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $31.79.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock opened at $17.56 on Wednesday. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The company has a market cap of $1.56 billion, a PE ratio of -4.28 and a beta of 0.88. The firm has a fifty day moving average price of $18.17 and a two-hundred day moving average price of $18.90. Travere Therapeutics, Inc. has a fifty-two week low of $6.14 and a fifty-two week high of $25.29.

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

Insider Activity at Travere Therapeutics

In other news, insider Peter Heerma sold 1,771 shares of Travere Therapeutics stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $37,279.55. Following the sale, the insider now directly owns 128,215 shares in the company, valued at approximately $2,698,925.75. The trade was a 1.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric M. Dube sold 18,924 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $398,350.20. Following the completion of the sale, the chief executive officer now directly owns 419,173 shares in the company, valued at approximately $8,823,591.65. The trade was a 4.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,527 shares of company stock worth $473,814 over the last three months. Company insiders own 4.19% of the company’s stock.

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.