Hsbc Holdings PLC Takes Position in Travere Therapeutics, Inc. $TVTX

Hsbc Holdings PLC purchased a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 396,853 shares of the company’s stock, valued at approximately $11,788,000. Hsbc Holdings PLC owned 0.43% of Travere Therapeutics as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in Travere Therapeutics during the second quarter valued at about $33,000. State of Wyoming acquired a new position in shares of Travere Therapeutics in the fourth quarter worth about $37,000. Torren Management LLC purchased a new position in shares of Travere Therapeutics in the fourth quarter worth approximately $38,000. Comerica Bank increased its position in shares of Travere Therapeutics by 77.5% in the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after acquiring an additional 492 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Travere Therapeutics by 69.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock valued at $45,000 after acquiring an additional 487 shares during the period.

Travere Therapeutics Trading Down 0.6%

Shares of NASDAQ:TVTX opened at $56.26 on Thursday. The firm has a fifty day moving average of $51.74 and a two-hundred day moving average of $39.28. The company has a quick ratio of 3.08, a current ratio of 3.13 and a debt-to-equity ratio of 3.16. Travere Therapeutics, Inc. has a 12-month low of $15.03 and a 12-month high of $60.10. The firm has a market capitalization of $5.23 billion, a P/E ratio of -244.60 and a beta of 1.10.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.29. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The business had revenue of $127.20 million for the quarter, compared to the consensus estimate of $136.23 million. During the same period in the prior year, the business posted ($0.47) earnings per share. Travere Therapeutics’s revenue for the quarter was up 55.6% compared to the same quarter last year. On average, equities analysts expect that Travere Therapeutics, Inc. will post -0.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. TD Cowen raised their price objective on shares of Travere Therapeutics from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Canaccord Genuity Group increased their target price on Travere Therapeutics from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Wall Street Zen cut Travere Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Piper Sandler upgraded Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price target on the stock in a report on Tuesday, April 14th. Finally, Wedbush increased their price objective on Travere Therapeutics from $55.00 to $61.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.08.

Insider Transactions at Travere Therapeutics

In other news, Director Timothy Coughlin sold 10,000 shares of Travere Therapeutics stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $50.07, for a total transaction of $500,700.00. Following the completion of the sale, the director directly owned 56,250 shares in the company, valued at $2,816,437.50. The trade was a 15.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jula Inrig sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $45.00, for a total value of $900,000.00. Following the completion of the sale, the insider directly owned 111,473 shares of the company’s stock, valued at approximately $5,016,285. The trade was a 15.21% 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 ninety days, insiders have sold 113,413 shares of company stock valued at $5,161,607. Corporate insiders own 4.44% of the company’s stock.

Travere Therapeutics 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.