JPMorgan Chase & Co. Raises Travere Therapeutics (NASDAQ:TVTX) Price Target to $23.00

Travere Therapeutics (NASDAQ:TVTX) had its target price hoisted by equities research analysts at JPMorgan Chase & Co. from $20.00 to $23.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 72.16% from the company’s current price.

TVTX has been the topic of a number of other research reports. Piper Sandler raised their price objective on shares of Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Bank of America boosted their target price on shares of Travere Therapeutics from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, September 6th. HC Wainwright boosted their target price on Travere Therapeutics from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Guggenheim upgraded Travere Therapeutics from a “neutral” rating to a “buy” rating and set a $25.00 price target for the company in a report on Monday. Finally, Barclays increased their target price on Travere Therapeutics from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.58.

Travere Therapeutics Stock Up 6.0 %

TVTX traded up $0.76 during trading hours on Friday, hitting $13.36. 1,414,246 shares of the company’s stock were exchanged, compared to its average volume of 1,248,516. Travere Therapeutics has a 12-month low of $5.12 and a 12-month high of $14.07. The firm has a 50 day moving average of $9.57 and a 200 day moving average of $7.96. The firm has a market cap of $1.02 billion, a P/E ratio of -6.36 and a beta of 0.71. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The business had revenue of $54.12 million for the quarter, compared to analysts’ expectations of $49.50 million. Analysts predict that Travere Therapeutics will post -3.96 EPS for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $243,360.00. Following the sale, the chief executive officer now owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Jula Inrig sold 2,191 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $25,240.32. Following the sale, the insider now owns 62,633 shares in the company, valued at $721,532.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric M. Dube sold 21,125 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $243,360.00. Following the transaction, the chief executive officer now directly owns 361,975 shares in the company, valued at $4,169,952. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,707 shares of company stock valued at $352,712. Company insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Several large investors have recently made changes to their positions in TVTX. Vanguard Group Inc. lifted its stake in Travere Therapeutics by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock worth $48,310,000 after purchasing an additional 750,686 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Travere Therapeutics by 33.9% in the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after buying an additional 747,406 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Travere Therapeutics by 912.5% in the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock worth $18,200,000 after acquiring an additional 1,995,419 shares during the period. Kynam Capital Management LP increased its stake in shares of Travere Therapeutics by 105.6% in the fourth quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock worth $17,980,000 after acquiring an additional 1,027,398 shares during the period. Finally, Finepoint Capital LP grew its position in Travere Therapeutics by 60.2% during the fourth quarter. Finepoint Capital LP now owns 1,435,321 shares of the company’s stock valued at $12,904,000 after buying an additional 539,500 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.