State of Wyoming Buys New Stake in Travere Therapeutics, Inc. $TVTX

State of Wyoming purchased a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 8,423 shares of the company’s stock, valued at approximately $479,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TVTX. Raymond James Financial Inc. acquired a new stake in shares of Travere Therapeutics during the second quarter worth about $33,000. GAMMA Investing LLC lifted its holdings in shares of Travere Therapeutics by 53.4% in the 2nd quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after purchasing an additional 211 shares during the last quarter. Fifth Third Bancorp acquired a new stake in shares of Travere Therapeutics in the 1st quarter valued at about $35,000. Torren Management LLC acquired a new stake in shares of Travere Therapeutics in the 4th quarter valued at about $38,000. Finally, Comerica Bank grew its stake in Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after buying an additional 492 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TVTX shares. Canaccord Genuity Group boosted their price objective on Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Piper Sandler reaffirmed an “overweight” rating on shares of Travere Therapeutics in a report on Monday. Evercore set a $78.00 price target on shares of Travere Therapeutics in a research report on Monday, August 10th. Citigroup increased their price target on shares of Travere Therapeutics from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen downgraded shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.67.

Travere Therapeutics Stock Up 2.2%

Shares of Travere Therapeutics stock opened at $63.53 on Tuesday. Travere Therapeutics, Inc. has a one year low of $17.05 and a one year high of $66.24. The company has a market cap of $5.99 billion, a P/E ratio of -138.11 and a beta of 1.12. The company has a debt-to-equity ratio of 24.58, a quick ratio of 3.99 and a current ratio of 4.05. The firm has a fifty day moving average of $56.84 and a two-hundred day moving average of $42.75.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.03. The business had revenue of $169.58 million for the quarter, compared to the consensus estimate of $157.27 million. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The business’s quarterly revenue was up 48.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 earnings per share. On average, analysts forecast that Travere Therapeutics, Inc. will post -0.56 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Timothy Coughlin sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $50.07, for a total value of $500,700.00. Following the completion of the sale, the director directly owned 56,250 shares of the company’s stock, valued at $2,816,437.50. This trade represents a 15.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy D. Baynes sold 4,500 shares of Travere Therapeutics stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $50.00, for a total value of $225,000.00. Following the completion of the sale, the director owned 41,500 shares in the company, valued at approximately $2,075,000. This trade represents a 9.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.44% of the stock is currently owned by 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.