JPMorgan Chase & Co. Boosts Travere Therapeutics (NASDAQ:TVTX) Price Target to $44.00

Travere Therapeutics (NASDAQ:TVTX) had its target price increased by investment analysts at JPMorgan Chase & Co. from $42.00 to $44.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 113.18% from the stock’s current price.

Several other brokerages have also issued reports on TVTX. HC Wainwright lifted their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Piper Sandler lifted their price target on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reissued an “overweight” rating on shares of Travere Therapeutics in a research note on Friday, February 21st. Citigroup lifted their price target on shares of Travere Therapeutics from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Scotiabank lifted their target price on shares of Travere Therapeutics from $27.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.62.

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX opened at $20.64 on Wednesday. The company has a 50-day moving average price of $19.97 and a two-hundred day moving average price of $16.91. 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 has a twelve month low of $5.12 and a twelve month high of $25.29. The firm has a market capitalization of $1.61 billion, a PE ratio of -5.03 and a beta of 0.72.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $74.79 million during the quarter, compared to the consensus estimate of $72.38 million. Equities analysts forecast that Travere Therapeutics will post -1.4 EPS for the current year.

Insider Buying and Selling

In other Travere Therapeutics news, CAO Sandra Calvin sold 15,000 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $17.22, for a total value of $258,300.00. Following the completion of the transaction, the chief accounting officer now owns 54,927 shares of the company’s stock, valued at approximately $945,842.94. The trade was a 21.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP William E. Rote sold 5,200 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $23.53, for a total transaction of $122,356.00. Following the sale, the senior vice president now directly owns 98,519 shares of the company’s stock, valued at $2,318,152.07. The trade was a 5.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,335 shares of company stock worth $4,453,012 in the last quarter. Corporate insiders own 4.06% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Several institutional investors have recently made changes to their positions in the business. Summit Investment Advisors Inc. lifted its stake in shares of Travere Therapeutics by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company’s stock worth $138,000 after purchasing an additional 667 shares during the period. Creative Planning raised its stake in Travere Therapeutics by 4.3% during the 3rd quarter. Creative Planning now owns 23,938 shares of the company’s stock worth $335,000 after acquiring an additional 995 shares during the period. GF Fund Management CO. LTD. bought a new stake in Travere Therapeutics during the 4th quarter worth approximately $31,000. Sterling Capital Management LLC raised its stake in Travere Therapeutics by 859.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock worth $41,000 after acquiring an additional 2,115 shares during the period. Finally, Rhumbline Advisers raised its stake in Travere Therapeutics by 2.2% during the 4th quarter. Rhumbline Advisers now owns 121,248 shares of the company’s stock worth $2,112,000 after acquiring an additional 2,640 shares during the period.

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.