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

Travere Therapeutics (NASDAQ:TVTX) had its price target reduced by JPMorgan Chase & Co. from $44.00 to $41.00 in a report issued on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

TVTX has been the topic of several other research reports. Guggenheim reissued a “buy” rating and issued a $49.00 target price on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Piper Sandler raised their price objective on shares of Travere Therapeutics from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. HC Wainwright restated a “buy” rating and set a $47.00 target price on shares of Travere Therapeutics in a research report on Friday, November 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Finally, Wall Street Zen downgraded Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Eleven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Travere Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $38.38.

Travere Therapeutics Stock Performance

NASDAQ TVTX opened at $27.56 on Wednesday. The business’s 50 day moving average price is $29.09 and its 200-day moving average price is $30.58. Travere Therapeutics has a fifty-two week low of $12.91 and a fifty-two week high of $42.13. The company has a market cap of $2.54 billion, a P/E ratio of -91.86 and a beta of 0.81. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.70 and a current ratio of 2.74.

Insider Buying and Selling

In related news, CEO Eric M. Dube sold 100,087 shares of Travere Therapeutics stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $32.28, for a total transaction of $3,230,808.36. Following the completion of the sale, the chief executive officer owned 432,886 shares in the company, valued at $13,973,560.08. This trade represents a 18.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Elizabeth E. Reed sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $27.34, for a total value of $273,400.00. Following the transaction, the insider owned 90,270 shares in the company, valued at $2,467,981.80. The trade was a 9.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 234,543 shares of company stock worth $7,368,175 over the last ninety days. 4.19% of the stock is owned by insiders.

Institutional Trading of Travere Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Stephens Investment Management Group LLC bought a new stake in Travere Therapeutics during the 3rd quarter valued at $38,232,000. State Street Corp increased its holdings in shares of Travere Therapeutics by 47.8% in the 4th quarter. State Street Corp now owns 4,756,666 shares of the company’s stock valued at $181,752,000 after acquiring an additional 1,538,827 shares during the period. Wellington Management Group LLP raised its position in shares of Travere Therapeutics by 3,331.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock worth $28,715,000 after acquiring an additional 1,166,460 shares in the last quarter. Frazier Life Sciences Management L.P. purchased a new stake in shares of Travere Therapeutics during the 2nd quarter worth $14,831,000. Finally, Fiera Capital Corp purchased a new stake in shares of Travere Therapeutics during the 4th quarter worth $33,398,000.

Travere Therapeutics Company Profile

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.