E Fund Management Co. Ltd. Makes New Investment in Travere Therapeutics, Inc. $TVTX

E Fund Management Co. Ltd. bought a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) during the second quarter, Holdings Channel.com reports. The firm bought 8,328 shares of the company’s stock, valued at approximately $473,000.

A number of other hedge funds have also modified their holdings of TVTX. GAMMA Investing LLC lifted its position in Travere Therapeutics by 53.4% in the second quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after buying an additional 211 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Travere Therapeutics by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock valued at $45,000 after acquiring an additional 487 shares during the period. Comerica Bank raised its stake in shares of Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after acquiring an additional 492 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Travere Therapeutics by 4.1% in the 4th quarter. ProShare Advisors LLC now owns 19,007 shares of the company’s stock worth $726,000 after acquiring an additional 756 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Travere Therapeutics by 26.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,348 shares of the company’s stock worth $166,000 after purchasing an additional 902 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TVTX. HC Wainwright boosted their target price on Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. TD Cowen raised their target price on Travere Therapeutics from $60.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Wedbush lifted their target price on Travere Therapeutics from $61.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Evercore set a $78.00 price target on shares of Travere Therapeutics in a research note on Monday, August 10th. Finally, Wall Street Zen lowered shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a research note 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, Travere Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $61.67.

Travere Therapeutics Price Performance

Shares of NASDAQ TVTX opened at $64.46 on Friday. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.99. The company has a market cap of $6.08 billion, a price-to-earnings ratio of -140.13 and a beta of 1.12. The stock’s 50-day moving average is $57.85 and its two-hundred day moving average is $43.46. Travere Therapeutics, Inc. has a 1-year low of $17.05 and a 1-year high of $66.24.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.03. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.The business had revenue of $169.58 million during the quarter, compared to the consensus estimate of $157.27 million. During the same period in the previous year, the company posted $0.13 earnings per share. The business’s revenue for the quarter was up 48.2% on a year-over-year basis. Analysts forecast that Travere Therapeutics, Inc. will post -0.56 EPS for the current fiscal year.

Insider Activity at Travere Therapeutics

In related news, 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 transaction, the director owned 41,500 shares in the company, valued at $2,075,000. The trade was a 9.78% decrease in their ownership of the stock. The sale was disclosed in a legal 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 Timothy Coughlin sold 10,000 shares of the business’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 transaction of $500,700.00. Following the transaction, the director 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 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 owned by company 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.