Franklin Resources Inc. Invests $631,000 in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Franklin Resources Inc. purchased a new stake in Travere Therapeutics, Inc. (NASDAQ:TVTX) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 36,238 shares of the company’s stock, valued at approximately $631,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in Travere Therapeutics by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock worth $24,222,000 after buying an additional 64,744 shares during the last quarter. Virtu Financial LLC bought a new stake in Travere Therapeutics in the third quarter worth approximately $301,000. Diversified Trust Co boosted its holdings in shares of Travere Therapeutics by 27.5% during the 4th quarter. Diversified Trust Co now owns 14,701 shares of the company’s stock worth $256,000 after buying an additional 3,169 shares in the last quarter. R Squared Ltd acquired a new position in Travere Therapeutics during the 4th quarter worth approximately $53,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in Travere Therapeutics during the fourth quarter worth $192,000.

Insider Buying and Selling

In other news, CAO Sandra Calvin sold 54,244 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total value of $1,356,100.00. Following the sale, the chief accounting officer now directly owns 54,410 shares in the company, valued at approximately $1,360,250. This trade represents a 49.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William E. Rote sold 2,437 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $47,424.02. Following the completion of the sale, the senior vice president now directly owns 83,170 shares of the company’s stock, valued at approximately $1,618,488.20. This represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 188,877 shares of company stock valued at $4,147,627 over the last three months. 3.75% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on TVTX. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Travere Therapeutics in a report on Thursday, April 3rd. Guggenheim restated a “buy” rating and issued a $47.00 price objective on shares of Travere Therapeutics in a research report on Monday. JPMorgan Chase & Co. lifted their price target on Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Canaccord Genuity Group upped their price objective on shares of Travere Therapeutics from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, April 10th. Finally, Scotiabank restated an “outperform” rating on shares of Travere Therapeutics in a report on Friday, April 11th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.08.

Travere Therapeutics Stock Performance

NASDAQ TVTX opened at $14.57 on Thursday. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. Travere Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $25.29. The business has a 50 day simple moving average of $19.19 and a two-hundred day simple moving average of $18.54. The stock has a market capitalization of $1.29 billion, a PE ratio of -3.55 and a beta of 0.84.

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

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.