Travere Therapeutics, Inc. $TVTX Shares Purchased by Hennion & Walsh Asset Management Inc.

by · The Markets Daily

Hennion & Walsh Asset Management Inc. raised its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX – Free Report) by 70.0% during the third quarter, HoldingsChannel.com reports. The firm owned 36,810 shares of the company’s stock after buying an additional 15,151 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Travere Therapeutics were worth $880,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Frazier Life Sciences Management L.P. acquired a new stake in shares of Travere Therapeutics during the second quarter worth approximately $14,831,000. Perceptive Advisors LLC acquired a new stake in Travere Therapeutics in the second quarter valued at $12,347,000. Marshall Wace LLP bought a new position in Travere Therapeutics during the 2nd quarter valued at $10,992,000. Cubist Systematic Strategies LLC acquired a new position in Travere Therapeutics during the 2nd quarter worth $10,348,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Travere Therapeutics by 166.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,103,075 shares of the company’s stock worth $16,326,000 after purchasing an additional 689,561 shares during the last quarter.

Insider Activity at Travere Therapeutics

In other news, CFO Christopher R. Cline sold 20,000 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $35.01, for a total transaction of $700,200.00. Following the completion of the transaction, the chief financial officer owned 92,083 shares in the company, valued at approximately $3,223,825.83. This represents a 17.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric M. Dube sold 92,872 shares of the stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $30.38, for a total transaction of $2,821,451.36. Following the completion of the sale, the chief executive officer directly owned 419,173 shares in the company, valued at approximately $12,734,475.74. This trade represents a 18.14% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 323,226 shares of company stock valued at $11,290,656. Company insiders own 4.19% of the company’s stock.

Analysts Set New Price Targets

TVTX has been the topic of a number of recent analyst reports. Cowen restated a “buy” rating on shares of Travere Therapeutics in a research note on Friday, October 31st. HC Wainwright restated a “buy” rating and set a $47.00 price objective on shares of Travere Therapeutics in a research note on Friday, November 28th. Citigroup lifted their target price on Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Stifel Nicolaus upped their price target on Travere Therapeutics from $20.00 to $25.00 and gave the company a “hold” rating in a research report on Friday, September 12th. Finally, TD Cowen raised their price objective on Travere Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.71.

Read Our Latest Report on TVTX

Travere Therapeutics Stock Down 2.9%

Shares of Travere Therapeutics stock opened at $34.58 on Friday. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of -32.62, a PEG ratio of 1.25 and a beta of 0.85. Travere Therapeutics, Inc. has a twelve month low of $12.91 and a twelve month high of $42.13. The company has a current ratio of 2.75, a quick ratio of 2.71 and a debt-to-equity ratio of 4.23. The business’s 50 day simple moving average is $35.72 and its 200-day simple moving average is $25.88.

Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.59. Travere Therapeutics had a negative return on equity of 178.68% and a negative net margin of 20.32%.The business had revenue of $164.86 million during the quarter, compared to analyst estimates of $106.09 million. During the same quarter in the previous year, the firm posted ($0.70) EPS. The business’s revenue for the quarter was up 162.1% compared to the same quarter last year. Equities research analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current year.

About Travere Therapeutics

(Free Report)

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.

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