Oak Ridge Investments LLC Purchases 7,744 Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX)

Oak Ridge Investments LLC raised its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 13.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,926 shares of the company’s stock after acquiring an additional 7,744 shares during the quarter. Oak Ridge Investments LLC’s holdings in Travere Therapeutics were worth $508,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Arizona State Retirement System increased its holdings in shares of Travere Therapeutics by 9.7% during the 4th quarter. Arizona State Retirement System now owns 20,969 shares of the company’s stock worth $189,000 after acquiring an additional 1,851 shares during the last quarter. Signaturefd LLC raised its position in shares of Travere Therapeutics by 1,656.4% in the fourth quarter. Signaturefd LLC now owns 3,021 shares of the company’s stock valued at $27,000 after purchasing an additional 2,849 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Travere Therapeutics by 7.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,424 shares of the company’s stock worth $417,000 after buying an additional 3,083 shares during the last quarter. Rice Hall James & Associates LLC boosted its holdings in shares of Travere Therapeutics by 4.5% during the 1st quarter. Rice Hall James & Associates LLC now owns 73,400 shares of the company’s stock worth $566,000 after buying an additional 3,140 shares during the period. Finally, E Fund Management Co. Ltd. raised its holdings in Travere Therapeutics by 23.2% in the 4th quarter. E Fund Management Co. Ltd. now owns 22,910 shares of the company’s stock valued at $206,000 after acquiring an additional 4,314 shares during the period.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock traded down $0.05 on Friday, reaching $7.89. 420,775 shares of the stock were exchanged, compared to its average volume of 1,132,116. The firm’s 50 day moving average is $7.02 and its 200-day moving average is $7.69. The firm has a market cap of $600.66 million, a PE ratio of -3.76 and a beta of 0.77. The company has a debt-to-equity ratio of 5.10, a quick ratio of 2.75 and a current ratio of 2.78. Travere Therapeutics, Inc. has a one year low of $5.12 and a one year high of $17.57.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Monday, May 6th. The company reported ($1.76) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.78). Travere Therapeutics had a negative return on equity of 238.06% and a negative net margin of 87.94%. The business had revenue of $41.40 million for the quarter, compared to the consensus estimate of $43.46 million. During the same quarter in the previous year, the company earned ($1.27) earnings per share. The firm’s revenue for the quarter was up 34.0% on a year-over-year basis. As a group, analysts anticipate that Travere Therapeutics, Inc. will post -3.92 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wedbush reiterated an “outperform” rating and set a $13.00 target price on shares of Travere Therapeutics in a research note on Wednesday, April 17th. Canaccord Genuity Group upped their price objective on Travere Therapeutics from $15.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Guggenheim reissued a “neutral” rating on shares of Travere Therapeutics in a report on Wednesday, March 27th. Finally, HC Wainwright restated a “buy” rating and issued a $19.00 price target on shares of Travere Therapeutics in a research note on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $15.58.

About Travere Therapeutics

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.