Calamos Advisors LLC Has $1.61 Million Stock Holdings in Travere Therapeutics, Inc. $TVTX

Calamos Advisors LLC decreased its position in Travere Therapeutics, Inc. (NASDAQ:TVTX) by 25.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 54,245 shares of the company’s stock after selling 18,060 shares during the quarter. Calamos Advisors LLC’s holdings in Travere Therapeutics were worth $1,612,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Travere Therapeutics in the second quarter valued at about $33,000. Fifth Third Bancorp acquired a new stake in shares of Travere Therapeutics during the first quarter worth approximately $35,000. State of Wyoming bought a new position in shares of Travere Therapeutics in the fourth quarter valued at approximately $37,000. Torren Management LLC acquired a new position in shares of Travere Therapeutics in the 4th quarter worth approximately $38,000. Finally, Comerica Bank boosted its holdings in shares of Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after acquiring an additional 492 shares in the last quarter.

Insider Activity

In other news, CEO Eric M. Dube sold 22,500 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $43.95, for a total value of $988,875.00. Following the transaction, the chief executive officer owned 432,886 shares of the company’s stock, valued at $19,025,339.70. This represents a 4.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth E. Reed sold 2,076 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $43.95, for a total value of $91,240.20. Following the completion of the transaction, the insider owned 105,211 shares in the company, valued at $4,624,023.45. This represents a 1.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 122,513 shares of company stock worth $5,517,326. Corporate insiders own 4.44% of the company’s stock.

Travere Therapeutics Stock Down 0.6%

Shares of NASDAQ TVTX opened at $56.74 on Thursday. Travere Therapeutics, Inc. has a 1 year low of $15.03 and a 1 year high of $60.10. The firm’s 50-day moving average is $50.46 and its 200-day moving average is $38.67. The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16. The firm has a market capitalization of $5.28 billion, a PE ratio of -246.68 and a beta of 1.10.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.29. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The business had revenue of $127.20 million during the quarter, compared to the consensus estimate of $136.23 million. During the same period in the previous year, the firm posted ($0.47) earnings per share. Travere Therapeutics’s revenue for the quarter was up 55.6% compared to the same quarter last year. Equities analysts expect that Travere Therapeutics, Inc. will post -0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Piper Sandler raised Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price target for the company in a report on Tuesday, April 14th. JPMorgan Chase & Co. reduced their price objective on Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. Citigroup raised their target price on Travere Therapeutics from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, June 15th. TD Cowen upped their price target on shares of Travere Therapeutics from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, HC Wainwright increased their price objective on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.08.

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.