Prudential Financial Inc. Has $16.88 Million Stake in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Prudential Financial Inc. raised its holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 60.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 969,141 shares of the company’s stock after purchasing an additional 365,200 shares during the quarter. Prudential Financial Inc.’s holdings in Travere Therapeutics were worth $16,882,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. R Squared Ltd acquired a new stake in shares of Travere Therapeutics in the fourth quarter valued at $53,000. Quarry LP bought a new stake in Travere Therapeutics during the 3rd quarter worth about $105,000. Victory Capital Management Inc. acquired a new stake in Travere Therapeutics in the 4th quarter valued at about $182,000. Baader Bank Aktiengesellschaft bought a new position in shares of Travere Therapeutics in the fourth quarter worth about $192,000. Finally, Entropy Technologies LP acquired a new position in shares of Travere Therapeutics during the fourth quarter worth approximately $214,000.

Travere Therapeutics Trading Down 2.0 %

NASDAQ TVTX opened at $20.37 on Friday. Travere Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $25.29. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The stock has a 50 day moving average of $20.73 and a 200-day moving average of $18.40. The company has a market cap of $1.81 billion, a PE ratio of -4.97 and a beta of 0.75.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). The firm had revenue of $74.79 million during the quarter, compared to analyst estimates of $72.38 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. On average, equities research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Analyst Ratings Changes

TVTX has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price target on shares of Travere Therapeutics from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Citigroup lifted their target price on Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Travere Therapeutics in a research note on Friday, February 21st. Evercore ISI raised their price target on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group boosted their price objective on Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.62.

Insider Activity at Travere Therapeutics

In other news, CEO Eric M. Dube sold 10,736 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total value of $208,922.56. Following the transaction, the chief executive officer now directly owns 351,239 shares of the company’s stock, valued at $6,835,110.94. This represents a 2.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jula Inrig sold 2,066 shares of Travere Therapeutics stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $19.10, for a total transaction of $39,460.60. Following the sale, the insider now directly owns 59,883 shares of the company’s stock, valued at $1,143,765.30. The trade was a 3.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,335 shares of company stock worth $4,194,712. Insiders own 3.75% of the company’s stock.

Travere Therapeutics Company 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.