Yahoo Finance Travere (TVTX) Soars 5.9%: Is Further Upside Left in the Stock?
Travere Therapeutics (TVTX) shares rallied 5.9% in the last trading session to close at $14.27. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 55.3% gain over the past four weeks.
The company markets Filspari (sparsentan), an oral non-immunosuppressive drug approved for treating IgA nephropathy (IgAN), a rare kidney disease. Filspari has seen strong market demand, generating $47 million in sales in the first half of 2024. Last week, the FDA granted full approval for Filspari to treat primary IgAN in adults who are at high/low risk of disease progression, making it the only non-immunosuppressive drug available for this condition. This approval expands the potential patient base and sales opportunities, which may have contributed to a recent rise in the company’s share price.
This drug developer is expected to post quarterly loss of $0.71 per share in its upcoming report, which represents a year-over-year change of +39.3%. Revenues are expected to be $59.23 million, up 59.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Travere, the consensus EPS estimate for the quarter has been revised 1.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on TVTX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Travere belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Liquidia Technologies, Inc. (LQDA), closed the last trading session 2.1% higher at $10. Over the past month, LQDA has returned -30.6%.
Liquidia Technologies' consensus EPS estimate for the upcoming report has changed -11.5% over the past month to -$0.38. Compared to the company's year-ago EPS, this represents a change of -58.3%. Liquidia Technologies currently boasts a Zacks Rank of #3 (Hold).
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Travere Therapeutics, Inc. (TVTX) : Free Stock Analysis Report
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