Travere Therapeutics Rallies To Buy Point As Kidney Drug Sales Rocket 182%;
VIDYA RAMAKRISHNAN
Travere Therapeutics (TVTX) is testing a buy point of 21.35, according to IBD MarketSurge. Shares are taking a pause after a smooth rally in a double-bottom base when the stock rose on 11 out of the past 12 days. Travere Therapeutics stock is Tuesday's selection for IBD 50 Stocks To Watch.
First-quarter results on May 1 helped shares nudge into the buy zone from their early-stage base. Sales growth accelerated from the prior quarter and grew 98% to $81.7 million.
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Travere Therapeutics provides treatments for rare diseases. Its drug Filspari, approved by the U.S. Food and Drug Administration, targets kidney disorders and reduces protein buildup that can affect the normal functioning of the organ. Sales of Filspari soared 182% year-over-year to $55.9 million. Analysts at Leerink Partners Research estimated sales of $52.4 million at the midpoint.
The company also has submitted a supplemental New Drug Application to the Food and Drug Administration for approval of Filspari to treat focal segmental glomerulosclerosis, or FSGS, a rare kidney disease. Travere anticipates a priority review in May with a possible launch in September.
The stock has an outperform rating from analysts at Wedbush with a price target of $30.
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Travere Therapeutics has yet to turn profitable. For its first quarter ended in March, Travere reported a loss of 19 cents per share. But that was a dramatic improvement from its loss of $1.51 per share in the prior year.
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Analysts polled by FactSet see continued losses in 2025, but expect Travere's deficit to narrow by 65% to $1.08 per share from the year earlier. In 2026, they see the company turning profitable with earnings surging to 85 cents per share.
The biotech stock has an high Relative Strength Rating of 98. The Composite Rating of 81 meets the minimum threshold of 80 that Investor's Business Daily recommends. However, its Earnings Per Share Rating lags at 54.
Funds own 75% of outstanding shares. More funds have added the stock to their portfolios over the past two quarters. But they have been neither net sellers nor buyers of the stock over the past 13 weeks, going by the stock's Accumulation/Distribution Rating of C.
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