Burney Co. Makes New Investment in Travere Therapeutics, Inc. $TVTX

Burney Co. bought a new stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the first quarter, Holdings Channel reports. The firm bought 39,724 shares of the company’s stock, valued at approximately $1,180,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Stephens Investment Management Group LLC boosted its position in Travere Therapeutics by 4.5% during the first quarter. Stephens Investment Management Group LLC now owns 1,798,466 shares of the company’s stock valued at $53,432,000 after purchasing an additional 76,843 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Travere Therapeutics by 24.3% during the 1st quarter. Private Advisor Group LLC now owns 15,422 shares of the company’s stock valued at $458,000 after buying an additional 3,010 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of Travere Therapeutics by 196.6% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 117,361 shares of the company’s stock valued at $3,487,000 after buying an additional 77,793 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Travere Therapeutics by 60.4% in the 1st quarter. SG Americas Securities LLC now owns 54,691 shares of the company’s stock valued at $1,625,000 after buying an additional 20,591 shares in the last quarter. Finally, Diversified Trust Co grew its stake in shares of Travere Therapeutics by 12.4% in the 1st quarter. Diversified Trust Co now owns 28,161 shares of the company’s stock valued at $837,000 after buying an additional 3,117 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages recently weighed in on TVTX. Wells Fargo & Company raised their price objective on shares of Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Citigroup boosted their target price on shares of Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Piper Sandler upgraded shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price target on the stock in a research note on Tuesday, April 14th. TD Cowen raised their price target on shares of Travere Therapeutics from $45.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, Canaccord Genuity Group lifted their price objective on shares of Travere Therapeutics from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $52.08.

Insiders Place Their Bets

In related news, Director Roy D. Baynes sold 4,500 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $50.00, for a total value of $225,000.00. Following the transaction, the director directly owned 41,500 shares in the company, valued at approximately $2,075,000. This trade represents a 9.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William E. Rote sold 2,763 shares of Travere Therapeutics stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $43.95, for a total transaction of $121,433.85. Following the completion of the transaction, the insider owned 115,474 shares in the company, valued at $5,075,082.30. This trade represents a 2.34% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 324,515 shares of company stock valued at $13,854,428 in the last three months. Company insiders own 4.44% of the company’s stock.

Travere Therapeutics Stock Up 0.9%

Shares of TVTX stock opened at $58.36 on Thursday. The stock’s 50 day simple moving average is $49.01 and its 200 day simple moving average is $37.98. The company has a debt-to-equity ratio of 3.16, a quick ratio of 3.08 and a current ratio of 3.13. Travere Therapeutics, Inc. has a twelve month low of $15.03 and a twelve month high of $60.10. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of -253.73 and a beta of 1.10.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.29. The firm had revenue of $127.20 million during the quarter, compared to analysts’ expectations of $136.23 million. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The company’s revenue was up 55.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.47) earnings per share. As a group, research analysts predict that Travere Therapeutics, Inc. will post -0.25 EPS for the current year.

About Travere Therapeutics

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.