Travere Therapeutics, Inc. $TVTX Stock Position Trimmed by Penn Capital Management Company LLC

Penn Capital Management Company LLC cut its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 56.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,867 shares of the company’s stock after selling 15,137 shares during the quarter. Penn Capital Management Company LLC’s holdings in Travere Therapeutics were worth $453,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Palisades Investment Partners LLC bought a new stake in Travere Therapeutics in the 4th quarter valued at about $5,264,000. Lisanti Capital Growth LLC bought a new stake in Travere Therapeutics in the 3rd quarter valued at about $3,095,000. Essex Investment Management Co. LLC bought a new stake in Travere Therapeutics in the 3rd quarter valued at about $3,872,000. Hennion & Walsh Asset Management Inc. lifted its position in Travere Therapeutics by 169.6% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 99,229 shares of the company’s stock valued at $3,792,000 after purchasing an additional 62,419 shares during the last quarter. Finally, Apis Capital Advisors LLC bought a new stake in Travere Therapeutics in the 3rd quarter valued at about $3,967,000.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Travere Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 21st. Canaccord Genuity Group raised their target price 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. Citigroup raised their target price on shares of Travere Therapeutics from $53.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. lowered their target price on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. Finally, Wedbush raised their target price on shares of Travere Therapeutics from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Travere Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $47.83.

Travere Therapeutics Stock Up 7.8%

Travere Therapeutics stock opened at $47.76 on Thursday. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of -207.64 and a beta of 1.13. The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16. The company’s 50-day moving average price is $37.14 and its two-hundred day moving average price is $34.24. Travere Therapeutics, Inc. has a 52 week low of $13.88 and a 52 week high of $48.61.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Monday, May 4th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.24) by $0.29. The firm had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $136.23 million. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. Travere Therapeutics’s quarterly revenue was up 55.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.47) EPS. On average, analysts expect that Travere Therapeutics, Inc. will post -0.26 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Roy D. Baynes sold 32,750 shares of Travere Therapeutics stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $41.29, for a total value of $1,352,247.50. Following the transaction, the director owned 37,500 shares of the company’s stock, valued at $1,548,375. The trade was a 46.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth E. Reed sold 44,715 shares of Travere Therapeutics stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $41.21, for a total transaction of $1,842,705.15. Following the completion of the transaction, the insider directly owned 111,996 shares in the company, valued at $4,615,355.16. This represents a 28.53% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 400,015 shares of company stock worth $15,895,428. 4.44% of the stock is owned by insiders.

Travere Therapeutics Company Profile

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.