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

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

TVTX has been the topic of a number of other reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Travere Therapeutics in a research report on Friday, February 21st. HC Wainwright raised their price objective 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. Evercore ISI raised their price objective on shares of Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Citigroup lifted their price target on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Monday. Finally, Scotiabank lifted their price target on shares of Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Travere Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $30.62.

Travere Therapeutics Price Performance

Shares of TVTX stock opened at $20.64 on Wednesday. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $25.29. The stock has a market cap of $1.61 billion, a PE ratio of -5.03 and a beta of 0.72. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The firm’s 50 day moving average price is $19.97 and its two-hundred day moving average price is $16.91.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.73) earnings per share (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 business had revenue of $74.79 million during the quarter, compared to the consensus estimate of $72.38 million. As a group, analysts forecast that Travere Therapeutics will post -1.4 EPS for the current year.

Insider Activity

In related news, CAO Sandra Calvin sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $17.22, for a total transaction 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 $945,842.94. This represents a 21.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jula Inrig sold 2,066 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $19.10, for a total transaction of $39,460.60. Following the transaction, the insider now owns 59,883 shares of the company’s stock, valued at approximately $1,143,765.30. This represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,335 shares of company stock worth $4,453,012. 4.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Travere Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TVTX. GF Fund Management CO. LTD. bought a new stake in shares of Travere Therapeutics in the 4th quarter valued at $31,000. Sterling Capital Management LLC boosted its stake in Travere Therapeutics by 859.8% during the fourth 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 in the last quarter. R Squared Ltd bought a new position in Travere Therapeutics during the fourth quarter worth $53,000. Gen Wealth Partners Inc bought a new position in Travere Therapeutics during the fourth quarter worth $73,000. Finally, Quarry LP bought a new position in Travere Therapeutics during the third quarter worth $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.