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

Travere Therapeutics (NASDAQ:TVTX) had its target price upped by JPMorgan Chase & Co. from $20.00 to $23.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also recently issued reports on TVTX. Citigroup lifted their target price on shares of Travere Therapeutics from $14.00 to $23.00 and gave the company a buy rating in a research note on Friday, September 6th. Piper Sandler raised their price objective on shares of Travere Therapeutics from $11.00 to $12.00 and gave the company a neutral rating in a research report on Friday, August 2nd. Barclays upped their target price on shares of Travere Therapeutics from $12.00 to $14.00 and gave the stock an overweight rating in a research report on Friday, August 2nd. Guggenheim raised shares of 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, September 9th. Finally, HC Wainwright upped their price objective on Travere Therapeutics from $20.00 to $23.00 and gave the stock a buy rating in a report on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Travere Therapeutics currently has a consensus rating of Moderate Buy and an average price target of $17.58.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $14.27 on Friday. The firm’s 50-day moving average is $9.79 and its 200-day moving average is $8.04. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -6.80 and a beta of 0.71. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $14.72.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $49.50 million. Equities research analysts anticipate that Travere Therapeutics will post -3.96 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP William E. Rote sold 4,387 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the completion of the sale, the senior vice president now owns 84,455 shares of the company’s stock, valued at $972,921.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jula Inrig sold 2,191 shares of Travere Therapeutics stock in a transaction that occurred 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 of the company’s stock, valued at approximately $721,532.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP William E. Rote sold 4,387 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $50,538.24. Following the completion of the sale, the senior vice president now owns 84,455 shares in the company, valued at approximately $972,921.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,707 shares of company stock worth $352,712. Company insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its stake in Travere Therapeutics by 912.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock valued at $18,200,000 after buying an additional 1,995,419 shares during the last quarter. Parkman Healthcare Partners LLC grew its stake in shares of Travere Therapeutics by 76.4% in the fourth quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock valued at $9,159,000 after buying an additional 441,318 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Travere Therapeutics by 79.2% during the first quarter. Russell Investments Group Ltd. now owns 184,623 shares of the company’s stock worth $1,423,000 after buying an additional 81,611 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Travere Therapeutics during the first quarter worth $452,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Travere Therapeutics in the fourth quarter valued at $5,711,000.

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.