Travere Therapeutics (TVTX) AI Stock Analysis

• Market Cap: $2.72B
• Dividend Yield: N/A
• Average Volume (3M): 1.44M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.50
• Revenue Growth: 114.22%
• EPS Growth: 77.02%
• Country: US
• Employees: 385
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 0.03
• Shares Outstanding: 92,241,550
• 10 Day Avg. Volume: 1,419,389
• 30 Day Avg. Volume: 1,440,841
• PEG Ratio: 0.79
• Price to Book (P/B): 29.69
• Price to Sales (P/S): 6.95
• P/FCF Ratio: 90.22
• Enterprise Value/Market Cap: 1.05
• Enterprise Value/Revenue: 5.83
• Enterprise Value/Gross Profit: 6.19
• Enterprise Value/Ebitda: 128.80
• 1Y Price Target: $42.73
• Price Target Upside: 51.15% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 14
• EPS Forecast (FY): 0.46
• Revenue Forecast (FY): $689.36M

• Rating: 47 Neutral
• Price Target: $29.00 ▲(2.58% Upside)
• Action: Reiterated Date: 02/20/26
• Date: Action: Reiterated 02/20/26

The score is held down primarily by weak financial strength (ongoing net losses and high leverage) and soft technical momentum, partially offset by a constructive earnings update highlighting strong FILSPARI commercial growth and improved near-term profitability/cash position despite regulatory timing and expense headwinds.

Positive Factors

Commercial revenue growth

Sustained, steep FILSPARI revenue growth and record new patient starts indicate durable commercial adoption across prescribers. That growth supports scale in specialty distribution, validates reimbursement pathways and creates recurring product revenue that can fund further evidence generation and launches.

Strengthened liquidity and cash generation

Positive operating and free cash flow in 2025, plus a large cash balance bolstered by milestones, materially reduces near‑term financing risk. Improved cash generation demonstrates initial commercial profitability traction and provides runway for clinical work and commercial investment without immediate capital raises.

Pipeline and regulatory progress

An approvable FSGS indication would materially expand the addressable market and leverage existing commercial infrastructure; reactivation of pegtibatinase Phase III adds meaningful pipeline optionality, balancing reliance on a single product and supporting long‑term growth if trials and reviews succeed.

Negative Factors

Elevated leverage

High leverage relative to a modest equity base constrains financial flexibility and increases vulnerability to adverse revenue or margin shocks. Continuing net losses and negative returns on equity mean leverage reduction depends on sustained profitability, otherwise refinancing or restrictive covenants could impair strategy execution.

Ongoing loss-making and negative margins

Despite recent revenue acceleration, persistent GAAP losses and a negative EBITDA margin signal that profitability is sensitive to operating spend. Durable margin recovery requires sustained top-line growth and controlled SG&A; absent that, earnings volatility could reassert and limit reinvestment capacity.

Rising commercialization costs and gross-to-net pressure

Substantially higher SG&A to support field expansion and launches, combined with increasing gross-to-net discounts and new IgAN entrants, structurally compresses margins. This requires outsized sales growth to offset; if market share gains slow, higher commercial spend will pressure cash flow durability and long‑term profitability.

Travere Therapeutics Business Overview & Revenue Model

Company Description

Travere Therapeutics, Inc., a biopharmaceutical company, focuses on the identification, development, commercialization, and delivering of therapies for the treatment of rare diseases. Its marketed products include Chenodal, a synthetic oral form of chenodeoxycholic acid for the treatment of radiolucent stones in gallbladders; Cholbam, a cholic acid capsule to treat pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects, as well as for adjunctive treatment of patients with peroxisomal disorders; and Thiola and Thiola EC, a tiopronin tablet for the treatment of homozygous cystinuria. The company's product candidates also consist of Sparsentan, which is in Phase III clinical trial for the treatment of focal segmental glomerulosclerosis and immunoglobulin A nephropathy; and TVT-058, a novel investigational human enzyme replacement candidate, which is in Phase I/II clinical trials for the treatment of classical homocystinuria. It has a cooperative research and development agreement with National Institutes of Health's National Center for Advancing Translational Sciences and patient advocacy organizations, CDG Care, and Alagille Syndrome Alliance for the identification of potential small molecule therapeutics for NGLY1 deficiency and Alagille syndrome. The company was formerly known as Retrophin, Inc. and changed its name to Travere Therapeutics, Inc. in November 2020. Travere Therapeutics, Inc. was incorporated in 2008 and is headquartered in San Diego, California.

How the Company Makes Money

Travere Therapeutics generates revenue primarily through the sale of its pharmaceutical products, particularly those that have received regulatory approval and are commercially available. The company may also earn income through partnerships with other pharmaceutical companies for co-development and commercialization of drug candidates, which can include milestone payments and royalties. Additionally, government grants and funding from research initiatives may contribute to its revenue streams. The success of Travere's revenue model heavily relies on the efficacy and market acceptance of its therapeutic products, as well as the company's ability to navigate the regulatory landscape effectively.

Travere Therapeutics Financial Statement Overview

Summary

Mixed fundamentals: revenue growth accelerated in 2025 and operating/free cash flow turned positive, but the company remains net loss-making and balance-sheet leverage is elevated (debt still sizable relative to equity), limiting financial flexibility.

Income Statement

Revenue growth accelerated meaningfully in the latest year (+12.6% in 2025 versus +0.6% in 2024), showing improving commercial traction. However, profitability remains pressured: the company is still loss-making (2025 net loss of ~$26M), and operating profitability is negative (2025 EBITDA margin around -10%). Prior years show very heavy losses (notably 2022–2024), indicating earnings remain volatile and highly sensitive to spending levels despite a strong gross margin history (2021–2024 ~92%–97%).

Balance Sheet

Leverage is a key risk. Debt remains sizable (~$329M in 2025) against a relatively modest equity base (~$115M), with debt-to-equity still elevated (~2.9x) despite improving from extremely high levels in 2022–2024. Returns on equity are negative, consistent with ongoing net losses, and the equity base has fluctuated materially over time—reducing balance-sheet resilience if profitability doesn’t stabilize.

Cash Flow

Cash generation improved sharply in 2025 with positive operating cash flow and free cash flow (~$38M each) versus deeply negative cash burn in 2022–2024. That said, the year-over-year free cash flow trend is highly volatile (large negative growth rate in 2025 off a weak prior-year base), and the ability of operating cash flow to cover obligations remains limited (coverage ratio ~0.24 in 2025), suggesting cash flow durability still needs to be proven.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	490.73M	233.18M	145.24M	109.46M	131.84M
Gross Profit	419.65M	225.43M	133.79M	105.04M	128.02M
EBITDA	22.22M	-265.77M	-326.25M	-299.42M	-184.46M
Net Income	-50.26M	-321.55M	-111.40M	-278.48M	-180.09M
Balance Sheet
Total Assets	605.19M	594.13M	788.91M	672.59M	776.63M
Cash, Cash Equivalents and Short-Term Investments	322.80M	370.70M	566.85M	450.25M	552.88M
Total Debt	328.73M	401.58M	404.78M	407.49M	261.99M
Total Liabilities	490.36M	535.05M	588.10M	629.73M	474.52M
Stockholders Equity	114.83M	59.08M	200.81M	42.85M	302.11M
Cash Flow
Free Cash Flow	37.78M	-338.69M	-321.61M	-214.66M	-38.94M
Operating Cash Flow	37.78M	-237.47M	-280.02M	-186.29M	-14.79M
Investing Cash Flow	27.89M	99.33M	55.78M	-32.55M	-137.62M
Financing Cash Flow	-33.47M	139.42M	218.75M	117.57M	231.68M

Travere Therapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 28.27
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TVTX, the sentiment is Negative. The current price of 28.27 is below the 20-day moving average (MA) of 30.11, below the 50-day MA of 32.17, and above the 200-day MA of 25.11, indicating a neutral trend. The MACD of -0.53 indicates Negative momentum. The RSI at 45.75 is Neutral, neither overbought nor oversold. The STOCH value of 57.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TVTX.

Travere Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GLPG	68 Neutral	$2.23B	5.72	-16.45%	―	―	―
ARQT	63 Neutral	$3.07B	-176.98	-9.30%	―	129.21%	80.35%
TARS	62 Neutral	$3.30B	―	-23.39%	―	182.44%	47.21%
RXRX	53 Neutral	$1.89B	-2.45	-59.54%	―	-32.98%	-18.46%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
TVTX	47 Neutral	$2.72B	-48.97	-57.80%	―	114.22%	77.02%
IRON	43 Neutral	$2.54B	-11.11	-35.86%	―	―	-34.96%

Travere Therapeutics Corporate Events

FDA Extends Review Timeline for Travere’s FILSPARI sNDA

On January 13, 2026, Travere Therapeutics announced that the U.S. Food and Drug Administration extended the review timeline for the supplemental New Drug Application for FILSPARI in focal segmental glomerulosclerosis, moving the target action date to April 13, 2026 after the company submitted additional data to further characterize the drug’s clinical benefit. The FDA classified these new materials as a Major Amendment but did not request further safety or manufacturing information, and the filing rests on clinical evidence from the large Phase 3 DUPLEX study and Phase 2 DUET study, which showed significant reductions in proteinuria and clinically meaningful benefits versus irbesartan despite DUPLEX not meeting its primary eGFR slope endpoint, underscoring both the potential of FILSPARI to become the first indicated therapy for FSGS and the regulatory scrutiny around demonstrating long‑term kidney function outcomes in this rare disease population.

The most recent analyst rating on (TVTX) stock is a Hold with a $31.00 price target. To see the full list of analyst forecasts on Travere Therapeutics stock, see the TVTX Stock Forecast page.