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

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) had its target price lifted by equities researchers at JPMorgan Chase & Co. from $42.00 to $44.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 105.61% from the company's previous close.

TVTX has been the topic of several other research reports. Canaccord Genuity Group lifted their price target on shares of Travere Therapeutics from $22.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Citigroup lifted their target price 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. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Travere Therapeutics in a research note on Friday, February 21st. Barclays lifted their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Finally, Scotiabank lifted 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. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $30.62.

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Travere Therapeutics Stock Up 3.7 %

Shares of Travere Therapeutics stock traded up $0.76 during trading hours on Wednesday, hitting $21.40. 2,003,508 shares of the company's stock traded hands, compared to its average volume of 1,656,869. The stock has a 50 day simple moving average of $20.05 and a 200-day simple moving average of $17.06. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The company has a market cap of $1.90 billion, a PE ratio of -5.22 and a beta of 0.72. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $25.29.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) EPS for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.15). Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The firm had revenue of $74.79 million during the quarter, compared to analyst estimates of $72.38 million. Equities research analysts anticipate that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other news, CFO Christopher R. Cline sold 5,192 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $20.12, for a total transaction of $104,463.04. Following the transaction, the chief financial officer now owns 90,038 shares in the company, valued at approximately $1,811,564.56. The trade was a 5.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP William E. Rote sold 2,437 shares of the business's stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total transaction of $47,424.02. Following the transaction, the senior vice president now owns 83,170 shares in the company, valued at approximately $1,618,488.20. The trade was a 2.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 206,335 shares of company stock worth $4,453,012. 3.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Entropy Technologies LP bought a new stake in Travere Therapeutics in the fourth quarter valued at about $214,000. Aigen Investment Management LP bought a new stake in Travere Therapeutics in the third quarter valued at about $170,000. Oppenheimer & Co. Inc. bought a new stake in Travere Therapeutics in the third quarter valued at about $673,000. FMR LLC increased its stake in Travere Therapeutics by 27.5% in the third quarter. FMR LLC now owns 147,416 shares of the company's stock valued at $2,062,000 after acquiring an additional 31,772 shares during the period. Finally, Two Sigma Advisers LP increased its stake in Travere Therapeutics by 30.2% in the third quarter. Two Sigma Advisers LP now owns 720,400 shares of the company's stock valued at $10,078,000 after acquiring an additional 167,100 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.