Travere Therapeutics (NASDAQ:TVTX) Stock Gets Price Target Trim from JPMorgan Chase & Co.

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

A number of other research analysts also recently issued reports on TVTX. TD Cowen boosted their price target on shares of Travere Therapeutics from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Evercore set a $78.00 price target on Travere Therapeutics in a report on Monday, August 10th. Canaccord Genuity Group lifted their price objective on Travere Therapeutics from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, November 4th. Leerink Partners cut their target price on Travere Therapeutics from $78.00 to $67.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Piper Sandler reiterated an “overweight” rating on shares of Travere Therapeutics in a research note on Monday, August 17th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, Travere Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $72.55.

Travere Therapeutics Stock Performance

NASDAQ TVTX opened at $49.60 on Friday. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of -38.45 and a beta of 1.11. The company has a quick ratio of 2.95, a current ratio of 3.00 and a debt-to-equity ratio of 26.72. Travere Therapeutics has a twelve month low of $22.59 and a twelve month high of $68.73. The stock has a fifty day simple moving average of $57.40 and a 200 day simple moving average of $47.00.

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

Insider Activity at Travere Therapeutics

In related news, EVP Jula Inrig sold 44,674 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $62.34, for a total value of $2,784,977.16. Following the transaction, the executive vice president directly owned 100,491 shares in the company, valued at $6,264,608.94. This trade represents a 30.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Heerma sold 172,717 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $63.43, for a total transaction of $10,955,439.31. Following the completion of the transaction, the executive vice president directly owned 117,066 shares in the company, valued at $7,425,496.38. This trade represents a 59.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,294,029 shares of company stock valued at $79,454,261 over the last three months. 4.44% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Jupiter Topco LLC bought a new stake in shares of Travere Therapeutics during the 2nd quarter worth $643,299,000. Bank of America Corp DE bought a new position in Travere Therapeutics during the second quarter valued at about $259,527,000. Assenagon Asset Management S.A. increased its holdings in Travere Therapeutics by 168.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,145,414 shares of the company’s stock worth $67,442,000 after buying an additional 718,109 shares during the last quarter. Aberdeen Group plc increased its holdings in Travere Therapeutics by 483.3% during the third quarter. Aberdeen Group plc now owns 728,295 shares of the company’s stock worth $42,882,000 after buying an additional 603,440 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Travere Therapeutics by 50.0% in the second quarter. Wellington Management Group LLP now owns 1,533,080 shares of the company’s stock worth $87,094,000 after acquiring an additional 510,808 shares during the period.

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.