Travere Therapeutics, Inc. (NASDAQ:TVTX) is Finepoint Capital LP’s 6th Largest Position

Finepoint Capital LP boosted its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 0.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,782,267 shares of the company’s stock after purchasing an additional 5,539 shares during the quarter. Travere Therapeutics makes up approximately 1.8% of Finepoint Capital LP’s portfolio, making the stock its 6th biggest holding. Finepoint Capital LP’s holdings in Travere Therapeutics were worth $24,934,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. EntryPoint Capital LLC acquired a new stake in shares of Travere Therapeutics in the 1st quarter valued at about $32,000. CWM LLC raised its stake in Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after buying an additional 3,065 shares in the last quarter. Diversified Trust Co bought a new position in Travere Therapeutics during the 3rd quarter worth approximately $161,000. DRW Securities LLC bought a new position in Travere Therapeutics during the 2nd quarter worth approximately $95,000. Finally, Aigen Investment Management LP acquired a new position in shares of Travere Therapeutics in the 3rd quarter worth approximately $170,000.

Insider Activity at Travere Therapeutics

In other news, CEO Eric M. Dube sold 21,125 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $243,360.00. Following the completion of the transaction, the chief executive officer now directly owns 361,975 shares in the company, valued at $4,169,952. This trade represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sandra Calvin sold 12,090 shares of the firm’s stock in a transaction that occurred on 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 owns 54,927 shares in the company, valued at $1,005,164.10. This represents a 18.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,797 shares of company stock worth $1,725,559 in the last 90 days. Corporate insiders own 4.06% of the company’s stock.

Wall Street Analysts Forecast Growth

TVTX has been the topic of several research reports. Scotiabank upped their price target on Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a research report on Friday, November 1st. Wedbush raised their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Citigroup lowered their price objective on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Leerink Partners reissued an “outperform” rating and issued a $20.00 target price on shares of Travere Therapeutics in a report on Tuesday, October 8th. Finally, Wells Fargo & Company upgraded Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $9.00 to $27.00 in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.62.

Travere Therapeutics Stock Performance

Shares of TVTX stock opened at $18.18 on Tuesday. Travere Therapeutics, Inc. has a 12-month low of $5.12 and a 12-month high of $20.33. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -4.00 and a beta of 0.70. The business has a 50 day simple moving average of $16.85 and a 200 day simple moving average of $11.52.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01. The company had revenue of $62.90 million during the quarter, compared to analyst estimates 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) EPS. On average, equities research analysts anticipate that Travere Therapeutics, Inc. will post -3.93 EPS for the current year.

Travere Therapeutics 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.