Travere Therapeutics, Inc. (NASDAQ:TVTX) Shares Sold by Emerald Advisers LLC

Emerald Advisers LLC decreased its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 6.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,637,146 shares of the company’s stock after selling 112,255 shares during the period. Emerald Advisers LLC owned 2.15% of Travere Therapeutics worth $13,457,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EntryPoint Capital LLC purchased a new position in Travere Therapeutics in the first quarter worth approximately $32,000. China Universal Asset Management Co. Ltd. increased its position in shares of Travere Therapeutics by 68.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock worth $113,000 after purchasing an additional 5,962 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Travere Therapeutics during the 4th quarter worth about $137,000. SG Americas Securities LLC purchased a new stake in Travere Therapeutics in the 2nd quarter valued at about $139,000. Finally, ProShare Advisors LLC lifted its position in Travere Therapeutics by 9.2% in the first quarter. ProShare Advisors LLC now owns 18,421 shares of the company’s stock valued at $142,000 after buying an additional 1,557 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Bank of America boosted their price target on shares of Travere Therapeutics from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. boosted their target price on Travere Therapeutics from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Piper Sandler raised their price target on Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Barclays lifted their price objective on Travere Therapeutics from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Wedbush increased their target price on Travere Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Travere Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.33.

Travere Therapeutics Stock Performance

Shares of TVTX opened at $10.98 on Friday. Travere Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $14.82. The stock has a market capitalization of $839.86 million, a PE ratio of -5.23 and a beta of 0.71. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. The stock has a 50-day simple moving average of $9.20 and a 200-day simple moving average of $7.82.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The firm had revenue of $54.12 million during the quarter, compared to analysts’ expectations of $49.50 million. On average, analysts predict that Travere Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

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.