Sei Investments Co. acquired a new stake in Travere Therapeutics, Inc. (NASDAQ:RTRX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 50,382 shares of the biopharmaceutical company’s stock, valued at approximately $930,000. Sei Investments Co. owned 0.10% of Travere Therapeutics as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. American International Group Inc. lifted its position in Travere Therapeutics by 3.5% during the second quarter. American International Group Inc. now owns 25,361 shares of the biopharmaceutical company’s stock worth $518,000 after buying an additional 848 shares during the period. AJO LP increased its stake in shares of Travere Therapeutics by 97.9% during the 2nd quarter. AJO LP now owns 14,847 shares of the biopharmaceutical company’s stock valued at $303,000 after acquiring an additional 7,343 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Travere Therapeutics by 1.8% during the 2nd quarter. Bank of Montreal Can now owns 197,179 shares of the biopharmaceutical company’s stock worth $3,972,000 after acquiring an additional 3,490 shares during the period. Marshall Wace LLP acquired a new stake in shares of Travere Therapeutics in the second quarter worth approximately $2,020,000. Finally, Vanguard Group Inc. grew its holdings in Travere Therapeutics by 15.4% in the second quarter. Vanguard Group Inc. now owns 2,970,844 shares of the biopharmaceutical company’s stock valued at $60,636,000 after purchasing an additional 396,250 shares during the period.
A number of equities analysts have weighed in on RTRX shares. Wedbush started coverage on shares of Travere Therapeutics in a report on Thursday, September 17th. They issued an “outperform” rating and a $33.00 price target on the stock. BidaskClub raised Travere Therapeutics from a “hold” rating to a “buy” rating in a research report on Sunday, November 29th. TheStreet upgraded Travere Therapeutics from a “d+” rating to a “c-” rating in a report on Tuesday, November 17th. Zacks Investment Research cut Travere Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Finally, BMO Capital Markets raised their price target on shares of Travere Therapeutics from $31.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, November 6th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Travere Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $27.43.
In related news, SVP William E. Rote sold 2,500 shares of Travere Therapeutics stock in a transaction on Monday, November 16th. The shares were sold at an average price of $23.96, for a total value of $59,900.00. Following the completion of the sale, the senior vice president now owns 24,086 shares in the company, valued at $577,100.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Laura Clague sold 7,500 shares of the company’s stock in a transaction on Friday, November 13th. The shares were sold at an average price of $23.61, for a total transaction of $177,075.00. Following the completion of the sale, the chief financial officer now directly owns 34,473 shares in the company, valued at $813,907.53. The disclosure for this sale can be found here. Insiders sold a total of 49,063 shares of company stock worth $1,135,169 in the last quarter. 4.63% of the stock is currently owned by company insiders.
Travere Therapeutics stock opened at $27.26 on Friday. The firm has a market capitalization of $1.39 billion, a PE ratio of -12.92 and a beta of 0.67. Travere Therapeutics, Inc. has a one year low of $8.98 and a one year high of $24.96. The stock’s 50 day moving average price is $25.22 and its 200 day moving average price is $21.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 7.14 and a current ratio of 7.23.
Travere Therapeutics (NASDAQ:RTRX) last posted its quarterly earnings data on Thursday, November 5th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.15. Travere Therapeutics had a negative net margin of 49.13% and a negative return on equity of 36.38%. On average, analysts forecast that Travere Therapeutics, Inc. will post -1.62 earnings per share for the current fiscal year.
About Travere Therapeutics
Travere Therapeutics, Inc is a biopharmaceutical company. It engages in the identification, development, commercialization, and distribution of therapies to people living with rare diseases. Its products include Chenodal, Cholbam, and Thiola. The company was founded by Martin Shkreli on February 8, 2008 and is headquartered in San Diego, CA.
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