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

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

Several other equities research analysts have also weighed in on the stock. Bank of America increased their price objective on shares of Travere Therapeutics from $18.00 to $19.00 and gave the stock a buy rating in a research note on Friday, September 6th. Wedbush increased their price target on Travere Therapeutics from $13.00 to $16.00 and gave the stock an outperform rating in a research report on Friday, August 2nd. Piper Sandler boosted their price objective on Travere Therapeutics from $11.00 to $12.00 and gave the company a neutral rating in a research report on Friday, August 2nd. HC Wainwright increased their target price on Travere Therapeutics from $20.00 to $23.00 and gave the stock a buy rating in a research report on Friday, September 6th. Finally, Citigroup raised their target price on Travere Therapeutics from $14.00 to $23.00 and gave the company a buy rating in a research note on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $17.58.

Travere Therapeutics Trading Up 7.0 %

NASDAQ:TVTX opened at $13.48 on Friday. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $14.07. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96. The company has a market cap of $1.03 billion, a PE ratio of -6.42 and a beta of 0.71. The business’s 50 day moving average is $9.68 and its two-hundred day moving average is $7.99.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data 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). The firm had revenue of $54.12 million for the quarter, compared to the consensus estimate of $49.50 million. Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. On average, analysts predict that Travere Therapeutics will post -3.96 EPS for the current year.

Insider Buying and Selling

In related news, CFO Christopher R. Cline sold 2,490 shares of the firm’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 transaction of $28,684.80. Following the completion of the sale, the chief financial officer now directly owns 74,595 shares in the company, valued at $859,334.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Travere Therapeutics news, insider Jula Inrig sold 2,191 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $25,240.32. Following the sale, the insider now owns 62,633 shares in the company, valued at approximately $721,532.16. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Christopher R. Cline sold 2,490 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $28,684.80. Following the completion of the transaction, the chief financial officer now owns 74,595 shares of the company’s stock, valued at $859,334.40. The disclosure for this sale can be found here. Insiders have sold 30,707 shares of company stock worth $352,712 in the last ninety days. 3.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new stake in Travere Therapeutics during the 1st quarter worth about $32,000. DRW Securities LLC acquired a new stake in shares of Travere Therapeutics during the second quarter worth approximately $95,000. Forefront Analytics LLC boosted its holdings in shares of Travere Therapeutics by 10.2% during the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after purchasing an additional 1,237 shares during the period. China Universal Asset Management Co. Ltd. grew its position in Travere Therapeutics by 68.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock valued at $113,000 after purchasing an additional 5,962 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in Travere Therapeutics in the 2nd quarter valued at approximately $117,000.

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.