Travere Therapeutics (NASDAQ:TVTX) Given New $41.00 Price Target at JPMorgan Chase & Co.

Travere Therapeutics (NASDAQ:TVTX) had its price target decreased by JPMorgan Chase & Co. from $44.00 to $41.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 53.56% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. Guggenheim reaffirmed a “buy” rating and set a $49.00 price target on shares of Travere Therapeutics in a report on Wednesday, January 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Piper Sandler increased their target price on Travere Therapeutics from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. HC Wainwright reaffirmed a “buy” rating and issued a $47.00 price target on shares of Travere Therapeutics in a report on Friday, November 28th. Finally, Wall Street Zen downgraded shares of Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Eleven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.38.

Travere Therapeutics Price Performance

Shares of NASDAQ TVTX traded down $0.09 during mid-day trading on Wednesday, hitting $26.70. 140,864 shares of the stock were exchanged, compared to its average volume of 1,982,351. Travere Therapeutics has a twelve month low of $12.91 and a twelve month high of $42.13. The stock’s fifty day simple moving average is $29.12 and its two-hundred day simple moving average is $30.60. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.70 and a current ratio of 2.74. The company has a market cap of $2.46 billion, a P/E ratio of -90.33 and a beta of 0.81.

Insider Transactions at Travere Therapeutics

In other news, insider Peter Heerma sold 7,310 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $32.12, for a total value of $234,797.20. Following the transaction, the insider directly owned 131,823 shares in the company, valued at $4,234,154.76. This trade represents a 5.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric M. Dube sold 100,087 shares of Travere Therapeutics stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $32.28, for a total value of $3,230,808.36. Following the sale, the chief executive officer directly owned 432,886 shares of the company’s stock, valued at approximately $13,973,560.08. This trade represents a 18.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 234,543 shares of company stock valued at $7,368,175. 4.06% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Travere Therapeutics

Several institutional investors have recently modified their holdings of TVTX. Raymond James Financial Inc. bought a new stake in shares of Travere Therapeutics in the 2nd quarter valued at about $33,000. First Horizon Corp bought a new stake in shares of Travere Therapeutics during the third quarter worth $36,000. State of Wyoming acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth $37,000. Torren Management LLC bought a new stake in Travere Therapeutics in the 4th quarter valued at $38,000. Finally, Comerica Bank lifted its position in Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after acquiring an additional 492 shares in the last quarter.

About Travere Therapeutics

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.