Travere Therapeutics (NASDAQ:TVTX) Price Target Cut to $86.00 by Analysts at JPMorgan Chase & Co.

Travere Therapeutics (NASDAQ:TVTX) had its price target decreased by JPMorgan Chase & Co. from $90.00 to $86.00 in a report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

TVTX has been the topic of a number of other research reports. Canaccord Genuity Group increased their price objective on Travere Therapeutics from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, November 4th. Piper Sandler reaffirmed an “overweight” rating on shares of Travere Therapeutics in a report on Monday, August 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Friday, September 18th. Zacks Research cut Travere Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 20th. Finally, Evercore set a $78.00 price target on shares of Travere Therapeutics in a report on Monday, August 10th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.55.

Travere Therapeutics Stock Performance

Shares of TVTX stock opened at $49.60 on Friday. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of -38.45 and a beta of 1.11. The company’s fifty day simple moving average is $57.40 and its two-hundred day simple moving average is $47.00. Travere Therapeutics has a 1 year low of $22.59 and a 1 year high of $68.73. The company has a debt-to-equity ratio of 26.72, a current ratio of 3.00 and a quick ratio of 2.95.

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 company had revenue of $224.56 million during 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%. Travere Therapeutics’s revenue was up 36.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 earnings per share. As a group, analysts anticipate that Travere Therapeutics will post -0.90 earnings per share for the current year.

Insider Transactions at Travere Therapeutics

In other news, EVP Jula Inrig sold 44,674 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $62.34, for a total value of $2,784,977.16. Following the transaction, the executive vice president owned 100,491 shares of the company’s stock, valued at approximately $6,264,608.94. This represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 stock in a transaction on Thursday, October 15th. The stock was 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 in the company, valued at $23,297,924.52. This trade represents a 36.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,294,029 shares of company stock valued at $79,454,261. Corporate insiders own 4.44% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

A number of institutional investors have recently added to or reduced their stakes in TVTX. GAMMA Investing LLC increased its holdings in shares of Travere Therapeutics by 53.4% in the 2nd quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock worth $34,000 after buying an additional 211 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Travere Therapeutics during the 3rd quarter valued at $37,000. Allworth Financial LP bought a new stake in shares of Travere Therapeutics during the 2nd quarter worth $47,000. Fifth Third Bancorp bought a new stake in shares of Travere Therapeutics during the 1st quarter worth $35,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Travere Therapeutics during the 2nd quarter worth $70,000.

About Travere Therapeutics

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.