Panagora Asset Management Inc. Buys 96,062 Shares of Travere Therapeutics, Inc. $TVTX

Panagora Asset Management Inc. increased its stake in Travere Therapeutics by 28.6% in Q2, acquiring 96,062 shares. Analysts have set new price targets for Travere, with Jefferies at $35, Wedbush at $32, and Piper Sandler at $35. Insider trading includes CEO Eric M. Dube selling 92,872 shares. Travere's stock opened at $33.99, with a market cap of $3.04 billion.

Panagora Asset Management Inc. lifted its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 28.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 432,021 shares of the company's stock after acquiring an additional 96,062 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.48% of Travere Therapeutics worth $6,394,000 at the end of the most recent reporting period.

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Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TVTX. Adage Capital Partners GP L.L.C. lifted its holdings in Travere Therapeutics by 479.9% during the first quarter. Adage Capital Partners GP L.L.C. now owns 2,184,898 shares of the company's stock valued at $39,153,000 after purchasing an additional 1,808,098 shares in the last quarter. Armistice Capital LLC lifted its stake in shares of Travere Therapeutics by 20.6% during the 1st quarter. Armistice Capital LLC now owns 8,872,000 shares of the company's stock valued at $158,986,000 after buying an additional 1,514,000 shares in the last quarter. Nuveen LLC purchased a new position in shares of Travere Therapeutics during the 1st quarter valued at $21,569,000. Assenagon Asset Management S.A. lifted its stake in shares of Travere Therapeutics by 166.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,103,075 shares of the company's stock valued at $16,326,000 after buying an additional 689,561 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its holdings in Travere Therapeutics by 24.8% in the 1st quarter. Driehaus Capital Management LLC now owns 2,767,693 shares of the company's stock worth $49,597,000 after buying an additional 549,718 shares during the period.

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Analysts Set New Price Targets

A number of research firms have commented on TVTX. Jefferies Financial Group set a $35.00 price target on Travere Therapeutics in a report on Wednesday, September 10th. Wedbush lifted their target price on Travere Therapeutics from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Piper Sandler boosted their price target on Travere Therapeutics from $26.00 to $35.00 and gave the stock a "neutral" rating in a report on Tuesday, November 4th. Zacks Research lowered shares of Travere Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 12th. Finally, Cowen reissued a "buy" rating on shares of Travere Therapeutics in a report on Friday, October 31st. Thirteen 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.71.

Travere Therapeutics Still On The Rise After Encouraging Data

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Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 92,872 shares of Travere Therapeutics stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $30.38, for a total value of $2,821,451.36. Following the completion of the transaction, the chief executive officer directly owned 419,173 shares of the company's stock, valued at $12,734,475.74. This trade represents a 18.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Sandra Calvin sold 67,115 shares of the company's stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $36.00, for a total transaction of $2,416,140.00. Following the sale, the chief accounting officer owned 48,545 shares in the company, valued at $1,747,620. This represents a 58.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 223,487 shares of company stock valued at $7,213,117 over the last ninety days. Corporate insiders own 4.19% of the company's stock.

Travere Therapeutics Stock Performance

NASDAQ TVTX opened at $33.99 on Wednesday. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98. Travere Therapeutics, Inc. has a 1-year low of $12.91 and a 1-year high of $37.50. The business has a 50 day simple moving average of $30.43 and a two-hundred day simple moving average of $21.87. The stock has a market capitalization of $3.04 billion, a PE ratio of -16.66 and a beta of 0.90.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its earnings results on Thursday, October 30th. The company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of ($0.31) by $0.59. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The firm had revenue of $164.86 million during the quarter, compared to the consensus estimate of $106.09 million. During the same period in the prior year, the company earned ($0.70) EPS. The company's quarterly revenue was up 162.1% compared to the same quarter last year. On average, research analysts predict that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Travere Therapeutics Profile

(Free Report)

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.

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