Healthcare of Ontario Pension Plan Trust Fund Increases Stake in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 37.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 843,300 shares of the company’s stock after acquiring an additional 228,300 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Travere Therapeutics were worth $11,798,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Finepoint Capital LP raised its position in shares of Travere Therapeutics by 0.3% during the 3rd quarter. Finepoint Capital LP now owns 1,782,267 shares of the company’s stock worth $24,934,000 after acquiring an additional 5,539 shares in the last quarter. FMR LLC raised its position in shares of Travere Therapeutics by 27.5% during the 3rd quarter. FMR LLC now owns 147,416 shares of the company’s stock worth $2,062,000 after acquiring an additional 31,772 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Travere Therapeutics by 61.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 47,045 shares of the company’s stock worth $658,000 after acquiring an additional 17,931 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Travere Therapeutics during the 3rd quarter worth about $283,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Travere Therapeutics by 11.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 525,381 shares of the company’s stock worth $7,350,000 after acquiring an additional 52,985 shares in the last quarter.

Travere Therapeutics Trading Down 1.9 %

Shares of NASDAQ TVTX opened at $18.70 on Friday. Travere Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $20.33. The business has a 50-day moving average of $17.03 and a 200-day moving average of $11.66. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.01. The company had revenue of $62.90 million during the quarter, compared to the consensus estimate of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The company’s revenue was up 69.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.17) earnings per share. As a group, equities analysts anticipate that Travere Therapeutics, Inc. will post -3.94 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TVTX shares. Guggenheim raised their target price on Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Leerink Partners reaffirmed an “outperform” rating and set a $20.00 price target on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Citigroup cut their price target on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. Finally, Wedbush lifted their price target on Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.62.

Insiders Place Their Bets

In other Travere Therapeutics news, Director Gary A. Lyons sold 40,000 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $14.73, for a total transaction of $589,200.00. Following the transaction, the director now owns 51,000 shares of the company’s stock, valued at $751,230. This trade represents a 43.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Sandra Calvin sold 12,090 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $18.30, for a total value of $221,247.00. Following the transaction, the chief accounting officer now directly owns 54,927 shares in the company, valued at approximately $1,005,164.10. This represents a 18.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,797 shares of company stock valued at $1,725,559 in the last quarter. Insiders own 3.75% of the company’s stock.

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.