Oak Ridge Investments LLC increased its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 33.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,371 shares of the company’s stock after acquiring an additional 41,295 shares during the quarter. Oak Ridge Investments LLC owned about 0.27% of Travere Therapeutics worth $4,079,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in TVTX. Pacer Advisors Inc. boosted its stake in Travere Therapeutics by 48.0% in the 1st quarter. Pacer Advisors Inc. now owns 2,293 shares of the company’s stock worth $57,000 after purchasing an additional 744 shares during the period. Penserra Capital Management LLC bought a new position in Travere Therapeutics in the 4th quarter worth approximately $31,000. Exane Derivatives bought a new position in Travere Therapeutics in the 1st quarter worth approximately $43,000. Arizona State Retirement System boosted its stake in Travere Therapeutics by 20.3% in the 1st quarter. Arizona State Retirement System now owns 15,091 shares of the company’s stock worth $377,000 after purchasing an additional 2,543 shares during the period. Finally, Lazard Asset Management LLC bought a new position in Travere Therapeutics in the 4th quarter worth approximately $98,000.
TVTX has been the subject of several recent analyst reports. Evercore ISI dropped their price target on Travere Therapeutics from $30.00 to $23.00 and set an “outperform” rating for the company in a research note on Wednesday, May 26th. SVB Leerink reiterated a “buy” rating on shares of Travere Therapeutics in a research report on Sunday, June 6th. Zacks Investment Research downgraded Travere Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 15th. Barclays lowered their price target on Travere Therapeutics from $40.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, May 26th. Finally, Canaccord Genuity lowered their price target on Travere Therapeutics from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, May 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Travere Therapeutics has a consensus rating of “Buy” and a consensus price target of $32.71.
Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, May 6th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.40). Travere Therapeutics had a negative return on equity of 75.08% and a negative net margin of 113.21%. The business had revenue of $47.41 million during the quarter, compared to analysts’ expectations of $49.99 million. As a group, equities research analysts forecast that Travere Therapeutics, Inc. will post -3.17 earnings per share for the current fiscal year.
In other news, CEO Eric M. Dube sold 9,562 shares of the firm’s stock in a transaction on Wednesday, June 2nd. The stock was sold at an average price of $14.62, for a total transaction of $139,796.44. Also, Director Steve Aselage sold 17,727 shares of the firm’s stock in a transaction on Wednesday, March 17th. The shares were sold at an average price of $27.44, for a total value of $486,428.88. Following the transaction, the director now owns 206,667 shares in the company, valued at approximately $5,670,942.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,289 shares of company stock worth $888,525. Insiders own 4.31% of the company’s stock.
Travere Therapeutics Company Profile
Travere Therapeutics, Inc is a biopharmaceutical company. It engages in the identification, development, commercialization, and distribution of therapies to people living with rare diseases. The firm’s 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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