Panagora Asset Management Inc. Buys 17,659 Shares of Travere Therapeutics, Inc. $TVTX

Panagora Asset Management Inc. boosted its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 587,354 shares of the company’s stock after purchasing an additional 17,659 shares during the period. Panagora Asset Management Inc. owned about 0.66% of Travere Therapeutics worth $22,443,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its holdings in shares of Travere Therapeutics by 47.8% during the fourth quarter. State Street Corp now owns 4,756,666 shares of the company’s stock worth $181,752,000 after buying an additional 1,538,827 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Travere Therapeutics by 3,331.9% during the third quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock worth $28,715,000 after buying an additional 1,166,460 shares in the last quarter. Fiera Capital Corp acquired a new position in shares of Travere Therapeutics during the fourth quarter worth $33,398,000. Perceptive Advisors LLC acquired a new position in shares of Travere Therapeutics during the second quarter worth $12,347,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Travere Therapeutics during the second quarter worth $10,348,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Piper Sandler upgraded shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price target for the company in a report on Tuesday, April 14th. Weiss Ratings raised Travere Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 21st. JPMorgan Chase & Co. lowered their price objective on Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, March 25th. Citigroup upped their price objective on Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Monday. Finally, Wall Street Zen downgraded Travere Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $50.83.

Travere Therapeutics Stock Performance

Travere Therapeutics stock opened at $53.80 on Tuesday. The business has a 50 day moving average of $42.17 and a 200-day moving average of $35.38. Travere Therapeutics, Inc. has a 1 year low of $13.88 and a 1 year high of $53.88. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08. The company has a market capitalization of $5.00 billion, a P/E ratio of -233.90 and a beta of 1.13.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.29. The company had revenue of $127.20 million during the quarter, compared to the consensus estimate of $136.23 million. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The firm’s revenue was up 55.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.47) earnings per share. On average, equities research analysts predict that Travere Therapeutics, Inc. will post -0.29 earnings per share for the current year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, Director Roy D. Baynes sold 4,500 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $46.65, for a total transaction of $209,925.00. Following the completion of the sale, the director owned 37,500 shares of the company’s stock, valued at approximately $1,749,375. This represents a 10.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric M. Dube sold 22,500 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $43.95, for a total transaction of $988,875.00. Following the sale, the chief executive officer directly owned 432,886 shares of the company’s stock, valued at $19,025,339.70. This represents a 4.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 390,015 shares of company stock worth $15,614,528. Company insiders own 4.44% of the company’s stock.

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.