JPMorgan Chase & Co. Issues Positive Forecast for Travere Therapeutics (NASDAQ:TVTX) Stock Price

Travere Therapeutics (NASDAQ:TVTX) had its price objective upped by JPMorgan Chase & Co. from $42.00 to $44.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

TVTX has been the subject of several other research reports. Canaccord Genuity Group upped their price target on shares of Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Scotiabank upped their price objective 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. HC Wainwright upped their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Citigroup upped their price objective on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Travere Therapeutics in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.62.

Travere Therapeutics Stock Up 3.7 %

Shares of NASDAQ:TVTX opened at $21.40 on Wednesday. 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 company has a market cap of $1.67 billion, a PE ratio of -5.22 and a beta of 0.72. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $25.29. The firm has a 50 day simple moving average of $20.05 and a 200 day simple moving average of $17.00.

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

Insider Transactions at Travere Therapeutics

In other news, 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 transaction of $258,300.00. Following the transaction, the chief accounting officer now owns 54,927 shares in the company, valued at $945,842.94. This represents a 21.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jula Inrig sold 2,066 shares of the stock in a transaction 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 in the company, valued at approximately $1,143,765.30. This trade represents a 3.34 % 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 90 days. 4.06% of the stock is owned by insiders.

Institutional Trading of Travere Therapeutics

Several large investors have recently modified their holdings of the company. Summit Investment Advisors Inc. boosted its holdings in shares of Travere Therapeutics by 9.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company’s stock worth $138,000 after buying an additional 667 shares during the period. Creative Planning boosted its holdings in shares of 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 buying an additional 995 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of Travere Therapeutics during the 4th quarter worth $31,000. Sterling Capital Management LLC boosted its holdings in shares of 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 buying an additional 2,115 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of 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 buying an additional 2,640 shares during the period.

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.