Parkman Healthcare Partners LLC Grows Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Parkman Healthcare Partners LLC boosted its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 12.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,086,067 shares of the company’s stock after purchasing an additional 116,175 shares during the period. Travere Therapeutics comprises approximately 1.9% of Parkman Healthcare Partners LLC’s portfolio, making the stock its 16th largest position. Parkman Healthcare Partners LLC owned 1.39% of Travere Therapeutics worth $15,194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TVTX. Aigen Investment Management LP acquired a new position in Travere Therapeutics during the 3rd quarter worth $170,000. Assenagon Asset Management S.A. raised its holdings in Travere Therapeutics by 912.5% in the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock valued at $18,200,000 after acquiring an additional 1,995,419 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Travere Therapeutics in the third quarter worth approximately $673,000. Acadian Asset Management LLC grew its holdings in Travere Therapeutics by 202.6% during the 2nd quarter. Acadian Asset Management LLC now owns 144,901 shares of the company’s stock worth $1,190,000 after acquiring an additional 97,020 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Travere Therapeutics by 33.9% in the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after purchasing an additional 747,406 shares during the last quarter.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, insider Jula Inrig sold 2,191 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $25,240.32. Following the sale, the insider now directly owns 62,633 shares of the company’s stock, valued at $721,532.16. This trade represents a 3.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Sandra Calvin sold 12,090 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $18.30, for a total transaction of $221,247.00. Following the transaction, the chief accounting officer now directly owns 54,927 shares of the company’s stock, valued at $1,005,164.10. The trade was a 18.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 122,283 shares of company stock valued at $1,720,670 over the last three months. 4.06% of the stock is owned by insiders.

Travere Therapeutics Price Performance

NASDAQ TVTX opened at $19.38 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $20.33. The business’s 50-day simple moving average is $17.28 and its 200-day simple moving average is $11.96.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01. The company had revenue of $62.90 million for the quarter, compared to analysts’ expectations of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The firm’s quarterly revenue was up 69.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.17) earnings per share. On average, research analysts anticipate that Travere Therapeutics, Inc. will post -3.94 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on TVTX. Leerink Partners reissued an “outperform” rating and set a $20.00 price objective on shares of Travere Therapeutics in a report on Tuesday, October 8th. Piper Sandler raised their price target on Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Guggenheim raised their target price on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Wedbush increased their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Finally, Bank of America upped their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.62.

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.