JPMorgan Chase & Co. Cuts Travere Therapeutics (NASDAQ:TVTX) Price Target to $41.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective cut by JPMorgan Chase & Co. from $44.00 to $41.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

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

Travere Therapeutics Price Performance

NASDAQ TVTX opened at $27.25 on Wednesday. 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 firm’s 50 day moving average price is $29.07 and its 200-day moving average price is $30.60. Travere Therapeutics has a 52-week low of $12.91 and a 52-week high of $42.13. The company has a market cap of $2.51 billion, a PE ratio of -90.83 and a beta of 0.81.

Insiders Place Their Bets

In other news, insider Jula Inrig sold 1,779 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $32.21, for a total transaction of $57,301.59. Following the sale, the insider owned 105,706 shares in the company, valued at approximately $3,404,790.26. The trade was a 1.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William E. Rote sold 12,446 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $32.87, for a total transaction of $409,100.02. Following the transaction, the insider owned 109,087 shares in the company, valued at approximately $3,585,689.69. This trade represents a 10.24% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 234,543 shares of company stock valued at $7,368,175. 4.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Stephens Investment Management Group LLC acquired a new position in shares of Travere Therapeutics in the 3rd quarter valued at $38,232,000. State Street Corp lifted its position in Travere Therapeutics by 47.8% during the 4th quarter. State Street Corp now owns 4,756,666 shares of the company’s stock worth $181,752,000 after acquiring an additional 1,538,827 shares during the period. Wellington Management Group LLP lifted its position in Travere Therapeutics by 3,331.9% during 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 during the period. Frazier Life Sciences Management L.P. purchased a new stake in Travere Therapeutics during the 2nd quarter valued at about $14,831,000. Finally, Fiera Capital Corp purchased a new stake in Travere Therapeutics during the 4th quarter valued at about $33,398,000.

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.