Travere Therapeutics, Inc. (TVTX)
NASDAQ:TVTX
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Travere Therapeutics
(NASDAQ:TVTX)
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Rating:66Neutral
Price Target:
$46.00
▲(12.83% Upside)
Action:Reiterated
Date:05/09/26
The score is driven by strong technical momentum and a very positive earnings-call outlook tied to FILSPARI’s accelerating demand and expanded label, partially offset by only mid-level financial strength due to high leverage and still-inconsistent GAAP profitability, plus limited valuation support from a negative P/E and no dividend yield provided.
Positive Factors
First-to-market FSGS approval
Full FDA approval in FSGS creates a durable commercial moat as the first approved therapy, expanding the addressable base (>30k FSGS, >100k total) and enabling label-driven prescribing, formulary coverage and physician adoption that materially increases long-term revenue runway.
Negative Factors
High leverage constrains flexibility
Elevated leverage limits financial flexibility for M&A, aggressive commercial buildouts or prolonged trial timelines. High debt increases refinancing and covenant risk, making the company more sensitive to cash-flow volatility and potentially expensive capital raises.
Read all positive and negative factors
Positive Factors
Negative Factors
First-to-market FSGS approval
Full FDA approval in FSGS creates a durable commercial moat as the first approved therapy, expanding the addressable base (>30k FSGS, >100k total) and enabling label-driven prescribing, formulary coverage and physician adoption that materially increases long-term revenue runway.
Read all positive factors
Travere Therapeutics (TVTX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.99B
Dividend YieldN/A
Average Volume (3M)2.96M
Price to Earnings (P/E)―
Beta (1Y)1.70
Revenue Growth96.03%
EPS Growth82.27%
CountryUS
Employees385
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.49
Shares Outstanding92,992,905
10 Day Avg. Volume3,270,439
30 Day Avg. Volume2,956,120
Financial Highlights & Ratios
PEG Ratio1.55
Price to Book (P/B)29.69
Price to Sales (P/S)6.95
P/FCF Ratio90.22
Enterprise Value/Market Cap1.05
Enterprise Value/Revenue7.79
Enterprise Value/Gross Profit8.30
Enterprise Value/Ebitda115.94
Forecast
1Y Price Target
$53.42Price Target Upside31.02% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering13
EPS Forecast (FY)0.34
Revenue Forecast (FY)$699.59M
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 o...
How the Company Makes Money
Travere Therapeutics makes money primarily by selling its commercial prescription medicines in markets where it has commercialization rights. The largest revenue stream is product revenue from FILSPARI (sparsentan), generated through U.S. sales to...
Travere Therapeutics Earnings Call Summary
Earnings Call Date:May 04, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call conveyed a strongly positive commercial and clinical momentum: a landmark FDA approval in FSGS, record demand and an 88% YoY increase in FILSPARI sales, encouraging pipeline progress (HARMONY restart with 2027 readout expectation), and improved non-GAAP profitability. Offsetting these positives are significant near-term cost increases (R&D and SG&A), higher royalty expense due to accounting changes, a continuing GAAP net loss, and some short-term revenue recognition/timing headwinds and education needs with physicians and payers. Overall, the positives (major approval, large sales growth, record demand, and clear runway to advance the pipeline) outweigh the near-term financial and operational challenges.Positive Updates
First FDA Approval in FSGS — Major Commercial Milestone
FILSPARI received full FDA approval for FSGS (April 13), becoming the first and only approved medicine for this rare disease; company estimates >30,000 U.S. patients currently eligible in FSGS and >100,000 total U.S. patients eligible across IgA nephropathy and FSGS, supporting a modeled ~$3 billion potential peak sales opportunity.
Negative Updates
Increased Operating Expenses
R&D expense rose to $57.1 million from $46.9 million (≈+21.7% YoY GAAP; non-GAAP R&D $51.5M vs $42.2M, ≈+22%), and SG&A increased to $80.3 million from $60.4 million (≈+33% YoY GAAP; non-GAAP SG&A $69.3M vs $53.3M, ≈+30%), driven by HARMONY restart and investments for the FSGS launch.
Read all updates
Q1-2026 Updates
Positive
Negative
First FDA Approval in FSGS — Major Commercial Milestone
FILSPARI received full FDA approval for FSGS (April 13), becoming the first and only approved medicine for this rare disease; company estimates >30,000 U.S. patients currently eligible in FSGS and >100,000 total U.S. patients eligible across IgA nephropathy and FSGS, supporting a modeled ~$3 billion potential peak sales opportunity.
Read all positive updates
Company Guidance
Management guided to continued strong demand for FILSPARI and a faster, larger FSGS launch, citing 993 new patient start forms in Q1, ~88% year‑over‑year FILSPARI growth to $105.2M (total U.S. net product sales $124.5M; total revenue $127.2M), and established payer access (~97% pathway to access); they estimate >100,000 U.S. patients eligible across IgA nephropathy and FSGS (>30,000 FSGS patients) and a ~$3 billion potential peak sales opportunity. They reiterated near‑term commercial and R&D investment plans (Q1 R&D $57.1M / non‑GAAP $51.5M; SG&A $80.3M / non‑GAAP $69.3M; royalty expense $24.8M), reported Q1 net loss $37.1M ($0.40/share) versus prior $41.2M ($0.47), non‑GAAP net income $4.1M ($0.05), and a balance sheet with cash, equivalents, marketable securities and receivables of ~ $352M (cash ~$264.7M). For the pipeline, they dosed the first new patient in Phase III HARMONY (pegtibatinase) with top‑line results expected in 2027, cited a 67.1% mean tHcy reduction at 2.5 mg/kg in COMPOSE and maintenance <100 µmol, and noted DUPLEX/PROTECT data (proteinuria ~1.5 g/g at DUPLEX end; complete remission <0.3 g/g in PROTECT linked to eGFR decline <1 mL/min/yr) supporting their outlook.Travere Therapeutics Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
38
Negative
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 536.20M | 490.73M | 233.18M | 145.24M | 109.46M | 131.84M |
| Gross Profit | 503.77M | 480.39M | 225.43M | 133.79M | 105.04M | 128.02M |
| EBITDA | 36.05M | 22.22M | -265.77M | -326.25M | -299.42M | -184.46M |
| Net Income | -21.42M | -25.55M | -321.55M | -111.40M | -278.48M | -180.09M |
Balance Sheet | ||||||
| Total Assets | 555.19M | 605.19M | 594.13M | 788.91M | 672.59M | 776.63M |
| Cash, Cash Equivalents and Short-Term Investments | 264.68M | 322.80M | 370.70M | 566.85M | 450.25M | 552.88M |
| Total Debt | 327.66M | 328.73M | 401.58M | 404.78M | 407.49M | 261.99M |
| Total Liabilities | 456.46M | 490.36M | 535.05M | 588.10M | 629.73M | 474.52M |
| Stockholders Equity | 98.73M | 114.83M | 59.08M | 200.81M | 42.85M | 302.11M |
Cash Flow | ||||||
| Free Cash Flow | 17.43M | 37.78M | -338.69M | -321.61M | -214.66M | -38.94M |
| Operating Cash Flow | 39.61M | 37.78M | -237.47M | -280.02M | -186.29M | -14.79M |
| Investing Cash Flow | 8.15M | 27.89M | 99.33M | 55.78M | -32.55M | -137.62M |
| Financing Cash Flow | -32.98M | -33.47M | 139.42M | 218.75M | 117.57M | 231.68M |
Travere Therapeutics Technical Analysis
Positive
40.77
Price Trends
35.74
Positive
33.61
Positive
30.44
Positive
Market Momentum
1.93
Positive
55.87
Neutral
21.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TVTX, the sentiment is Positive. The current price of 40.77 is below the 20-day moving average (MA) of 42.60, above the 50-day MA of 35.74, and above the 200-day MA of 30.44, indicating a neutral trend. The MACD of 1.93 indicates Positive momentum. The RSI at 55.87 is Neutral, neither overbought nor oversold. The STOCH value of 21.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TVTX.
Travere Therapeutics Risk Analysis
Travere Therapeutics disclosed 59 risk factors in its most recent earnings report. Travere Therapeutics reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Travere Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $3.99B | -18.39 | -26.79% | ― | 96.03% | 82.27% | |
64 Neutral | $2.51B | -67.46 | -1.41% | ― | 95.29% | 98.21% | |
58 Neutral | $2.70B | -108.13 | -14.19% | ― | 128.99% | 58.46% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $1.53B | -3.46 | -54.32% | ― | 11.07% | 32.35% | |
47 Neutral | $2.55B | -9.69 | -36.95% | ― | ― | -68.57% |
* Healthcare Sector Average
TVTX
Travere Therapeutics
42.26
24.70
140.66%
ARQT
Arcutis Biotherapeutics
19.50
4.99
34.39%
IRON
Disc Medicine
64.07
13.99
27.94%
TARS
Tarsus Pharmaceuticals
61.29
16.41
36.56%
RXRX
Recursion Pharmaceuticals
2.85
-1.70
-37.36%
Travere Therapeutics Corporate Events
Business Operations and StrategyProduct-Related Announcements
Travere Wins FDA Approval for FILSPARI in FSGS
Positive
Apr 14, 2026
On April 13, 2026, Travere Therapeutics announced that the U.S. Food and Drug Administration approved FILSPARI (sparsentan) to reduce proteinuria in adults and children aged 8 and older with focal segmental glomerulosclerosis without nephrotic syn...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.