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

Travere Therapeutics (NASDAQ:TVTX) had its target price boosted by JPMorgan Chase & Co. from $42.00 to $44.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 104.51% from the stock’s previous close.

A number of other analysts have also commented on the company. Piper Sandler lifted their price target on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Evercore ISI raised their target price on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Canaccord Genuity Group increased their target price on shares of Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. HC Wainwright upped their price target on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Finally, Citigroup lifted their target price on shares of Travere Therapeutics from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.62.

Travere Therapeutics Trading Up 4.2 %

Shares of NASDAQ TVTX traded up $0.87 during mid-day trading on Wednesday, hitting $21.52. The company’s stock had a trading volume of 545,938 shares, compared to its average volume of 1,632,141. Travere Therapeutics has a one year low of $5.12 and a one year high of $25.29. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of -5.23 and a beta of 0.72. The company’s fifty day simple moving average is $19.82 and its 200-day simple moving average is $16.86.

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 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 business had revenue of $74.79 million during the quarter, compared to the consensus estimate of $72.38 million. On average, sell-side analysts anticipate that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other news, SVP William E. Rote sold 5,200 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $23.53, for a total value of $122,356.00. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sandra Calvin sold 15,000 shares of the stock in a transaction on Thursday, December 26th. The shares were 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 directly owns 54,927 shares in the company, valued at approximately $945,842.94. This trade represents a 21.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,335 shares of company stock valued at $4,453,012. 4.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new stake in Travere Therapeutics in the 4th quarter valued at about $31,000. Sterling Capital Management LLC increased its holdings in Travere Therapeutics by 859.8% in the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock worth $41,000 after purchasing an additional 2,115 shares in the last quarter. R Squared Ltd acquired a new stake in Travere Therapeutics in the 4th quarter valued at $53,000. Gen Wealth Partners Inc bought a new stake in Travere Therapeutics during the 4th quarter worth approximately $73,000. Finally, Quarry LP purchased a new stake in shares of Travere Therapeutics in the third quarter valued at about $105,000.

About Travere Therapeutics

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.