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

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

Other equities research analysts have also issued research reports about the company. Canaccord Genuity Group raised their target price on Travere Therapeutics from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, November 4th. HC Wainwright restated a “buy” rating and set a $67.00 target price on shares of Travere Therapeutics in a research note on Tuesday, September 22nd. TD Cowen upped their price target on Travere Therapeutics from $60.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Zacks Research lowered shares of Travere Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 20th. Finally, Citigroup raised their price objective on shares of Travere Therapeutics from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.55.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $49.60 on Friday. 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. The stock has a market cap of $4.76 billion, a PE ratio of -38.45 and a beta of 1.11. The stock’s fifty day moving average is $57.40 and its two-hundred day moving average is $47.00.

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

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, insider Elizabeth E. Reed sold 37,500 shares of Travere Therapeutics stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $62.34, for a total transaction of $2,337,750.00. Following the transaction, the insider owned 105,389 shares of the company’s stock, valued at $6,569,950.26. The trade was a 26.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Heerma sold 8,282 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $65.07, for a total value of $538,909.74. Following the completion of the sale, the executive vice president owned 117,066 shares of the company’s stock, valued at approximately $7,617,484.62. This represents a 6.61% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,294,029 shares of company stock worth $79,454,261. Insiders own 4.44% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds have recently modified their holdings of the business. S&CO Inc. acquired a new stake in shares of Travere Therapeutics during the second quarter worth about $3,181,000. Artia Global Partners LP purchased a new position in shares of Travere Therapeutics during the second quarter worth about $19,260,000. Elmind Capital LP purchased a new position in shares of Travere Therapeutics during the second quarter worth about $16,622,606. Bank of America Corp DE acquired a new position in Travere Therapeutics in the 2nd quarter valued at about $259,527,000. Finally, Jupiter Topco LLC acquired a new position in Travere Therapeutics in the 2nd quarter valued at about $643,299,000.

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.