Travere Therapeutics (NASDAQ:TVTX) Stock Price Target Lowered at JPMorgan Chase & Co.

Travere Therapeutics (NASDAQ:TVTX) had its price objective lowered by investment analysts at JPMorgan Chase & Co. from $90.00 to $86.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 73.39% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $76.00 price objective on shares of Travere Therapeutics in a research report on Tuesday, September 22nd. Piper Sandler reissued an “overweight” rating on shares of Travere Therapeutics in a report on Monday, August 17th. Canaccord Genuity Group boosted their target price on Travere Therapeutics from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, November 4th. Citigroup increased their price target on Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Evercore set a $78.00 price objective on shares of Travere Therapeutics in a research report on Monday, August 10th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $72.55.

Travere Therapeutics Stock Performance

Shares of NASDAQ:TVTX opened at $49.60 on Friday. Travere Therapeutics has a 52-week low of $22.59 and a 52-week high of $68.73. The company has a market capitalization of $4.76 billion, a P/E ratio of -38.45 and a beta of 1.11. The company has a 50-day simple moving average of $57.40 and a 200 day simple moving average of $47.00. The company has a debt-to-equity ratio of 26.72, a quick ratio of 2.95 and a current ratio of 3.00.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Monday, November 2nd. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.49). The business had revenue of $224.56 million for the quarter, compared to the consensus estimate of $195.29 million. Travere Therapeutics had a negative return on equity of 185.69% and a negative net margin of 18.66%. The company’s revenue for the quarter was up 36.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 EPS. Sell-side analysts forecast that Travere Therapeutics will post -0.90 earnings per share for the current year.

Insider Activity at Travere Therapeutics

In related news, EVP Peter Heerma sold 172,717 shares of Travere Therapeutics stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $63.43, for a total transaction of $10,955,439.31. Following the completion of the sale, the executive vice president directly owned 117,066 shares of the company’s stock, valued at approximately $7,425,496.38. This trade represents a 59.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Dube sold 243,735 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $53.82, for a total value of $13,117,817.70. Following the completion of the sale, the chief executive officer owned 432,886 shares of the company’s stock, valued at $23,297,924.52. This trade represents a 36.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,294,029 shares of company stock valued at $79,454,261 in the last 90 days. Corporate insiders own 4.44% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Travere Therapeutics by 53.4% in the second quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after acquiring an additional 211 shares during the period. Fifth Third Bancorp bought a new position in Travere Therapeutics during the first quarter worth about $35,000. Eurizon Capital SGR S.p.A. bought a new position in Travere Therapeutics during the third quarter worth about $37,000. Allworth Financial LP bought a new position in Travere Therapeutics during the second quarter worth about $47,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Travere Therapeutics in the 2nd quarter worth about $70,000.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, with an emphasis on kidney and metabolic disorders. The company was formerly known as Retrophin and adopted the Travere Therapeutics name in 2020.

Its commercial products include FILSPARI (sparsentan), an oral treatment approved in the United States for adults with primary IgA nephropathy at risk of disease progression, and THIOLA EC (tiopronin), used to help prevent cystine kidney stones in people with cystinuria.