Mirae Asset Global Investments Co. Ltd. Buys New Shares in Travere Therapeutics, Inc. $TVTX

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,607 shares of the company’s stock, valued at approximately $978,000.

Several other hedge funds have also modified their holdings of TVTX. Profund Advisors LLC boosted its stake in shares of Travere Therapeutics by 12.7% in the third quarter. Profund Advisors LLC now owns 34,448 shares of the company’s stock valued at $2,028,000 after buying an additional 3,874 shares in the last quarter. Vise Technologies Inc. purchased a new position in Travere Therapeutics in the third quarter worth $343,000. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Travere Therapeutics by 34.8% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 36,400 shares of the company’s stock worth $2,143,000 after acquiring an additional 9,400 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in Travere Therapeutics by 21.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 17,999 shares of the company’s stock worth $1,080,000 after acquiring an additional 3,199 shares in the last quarter. Finally, Sigma Planning Corp acquired a new stake in Travere Therapeutics in the third quarter valued at $2,066,000.

Insider Buying and Selling at Travere Therapeutics

In related news, EVP Peter Heerma sold 172,717 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $63.43, for a total value of $10,955,439.31. Following the sale, the executive vice president directly owned 117,066 shares of the company’s stock, valued at approximately $7,425,496.38. This represents a 59.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jula Inrig sold 44,674 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $62.34, for a total transaction of $2,784,977.16. Following the completion of the sale, the executive vice president directly owned 100,491 shares in the company, valued at approximately $6,264,608.94. The trade was a 30.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,294,029 shares of company stock worth $79,454,261. Insiders own 4.44% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Piper Sandler restated an “overweight” rating on shares of Travere Therapeutics in a research report on Monday, August 17th. Guggenheim cut their price target on shares of Travere Therapeutics from $89.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, November 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Friday, September 18th. TD Cowen boosted their price objective on shares of Travere Therapeutics from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Leerink Partners lowered their target price on shares of Travere Therapeutics from $78.00 to $67.00 and set an “outperform” rating on the stock in a research report on Thursday. Eleven research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Travere Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $68.45.

Travere Therapeutics Stock Performance

NASDAQ TVTX opened at $49.60 on Monday. The business has a 50 day moving average price of $57.40 and a 200 day moving average price of $47.00. The company has a market capitalization of $4.76 billion, a P/E ratio of -38.45 and a beta of 1.11. Travere Therapeutics, Inc. has a 1-year low of $22.59 and a 1-year high of $68.73. The company has a debt-to-equity ratio of 26.72, a current ratio of 3.00 and a quick ratio of 2.95.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Monday, November 2nd. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.49). The firm had revenue of $224.56 million for the quarter, compared to analysts’ expectations of $195.29 million. Travere Therapeutics had a negative return on equity of 185.69% and a negative net margin of 18.66%. The firm’s revenue for the quarter was up 36.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 earnings per share. Sell-side analysts expect that Travere Therapeutics, Inc. will post -0.90 EPS for the current fiscal year.

Key Stories Impacting Travere Therapeutics

Here are the key news stories impacting Travere Therapeutics this week:

• Positive Sentiment: Canaccord Genuity raised its price target to $72 from $70 and maintained a Buy rating, signaling continued confidence in the shares. Article: Travere Therapeutics Stock Gets Price Target Increase from Canaccord Genuity Group
• Positive Sentiment: HC Wainwright kept its Buy rating and $67 target while raising its earnings forecasts for 2027–2030, including its 2030 EPS estimate to $6.84 from $5.73. The revisions point to stronger expected longer-term earnings.
• Neutral Sentiment: Analyst actions were mixed: Leerink Partners cut its target to $67 from $78 but retained an Outperform rating, while Guggenheim also lowered its target; the report provided no revised figure. Article: Travere Therapeutics Stock Price Target Cut by Guggenheim
• Negative Sentiment: Travere’s latest quarterly results missed sharply on earnings: EPS was a loss of $0.55 versus the expected loss of $0.06. Revenue beat estimates at $224.56 million and rose 36.2% year over year, but the earnings shortfall contributed to reports of a post-results share-price gap down. Article: Travere Therapeutics Shares Gap Down After Earnings Miss

Travere Therapeutics Company Profile

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, with an emphasis on kidney and metabolic disorders. The company was formerly known as Retrophin and adopted the Travere Therapeutics name in 2020.

Its commercial products include FILSPARI (sparsentan), an oral treatment approved in the United States for adults with primary IgA nephropathy at risk of disease progression, and THIOLA EC (tiopronin), used to help prevent cystine kidney stones in people with cystinuria.