Wellington Management Group LLP Acquires New Position in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Wellington Management Group LLP bought a new position in Travere Therapeutics, Inc. (NASDAQ:TVTX) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 33,493 shares of the company’s stock, valued at approximately $583,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth $53,000. Victory Capital Management Inc. acquired a new position in shares of Travere Therapeutics during the 4th quarter valued at about $182,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Travere Therapeutics during the 4th quarter valued at about $192,000. Entropy Technologies LP purchased a new position in shares of Travere Therapeutics during the 4th quarter worth about $214,000. Finally, E Fund Management Co. Ltd. acquired a new stake in shares of Travere Therapeutics in the fourth quarter worth approximately $217,000.

Wall Street Analysts Forecast Growth

TVTX has been the subject of several research analyst reports. Guggenheim reaffirmed a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a research report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Travere Therapeutics in a research report on Thursday, April 3rd. Evercore ISI lifted their target price on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. upped their price target on Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, Scotiabank lifted their price objective on Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.08.

Travere Therapeutics Stock Performance

Shares of NASDAQ:TVTX opened at $14.83 on Tuesday. The business’s 50-day simple moving average is $19.47 and its 200 day simple moving average is $18.60. The company has a market cap of $1.32 billion, a P/E ratio of -3.62 and a beta of 0.84. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. Travere Therapeutics, Inc. has a one year low of $5.12 and a one year high of $25.29.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The firm had revenue of $74.79 million for the quarter, compared to analysts’ expectations of $72.38 million. On average, sell-side analysts forecast that Travere Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Eric M. Dube sold 10,736 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $208,922.56. Following the completion of the transaction, the chief executive officer now owns 351,239 shares of the company’s stock, valued at approximately $6,835,110.94. This represents a 2.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP William E. Rote sold 2,437 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total value of $47,424.02. Following the sale, the senior vice president now owns 83,170 shares of the company’s stock, valued at approximately $1,618,488.20. This trade represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 188,877 shares of company stock valued at $4,147,627 in the last quarter. Company insiders own 3.75% of the company’s stock.

Travere Therapeutics Company 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.