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TVTX · NASDAQ · Biotechnology

Travere Therapeutics

Develops and sells rare kidney-disease medicines led by FILSPARI.

$65.49

After-hours close−0.16 (−0.24%)

At close$65.65(−2.77%)

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Profile

Travere Therapeutics, Inc.TVTXHealth Care

Develops rare-disease medicines, selling FILSPARI for IgA nephropathy and focal segmental glomerulosclerosis alongside tiopronin products for cystinuria. Revenue is concentrated in U.S. specialty channels, with partners commercializing FILSPARI in selected overseas markets and all production outsourced.

Develops and commercializes medicines for rare kidney and metabolic diseases. FILSPARI (sparsentan) is sold in the United States for IgA nephropathy and focal segmental glomerulosclerosis without nephrotic syndrome; Thiola and Thiola EC provide tiopronin for cystinuria. Pegtibatinase is in pivotal development for classical homocystinuria, while civorebrutinib is being investigated for immune-mediated kidney diseases.

A specialty sales force and direct-to-patient pharmacies support U.S. prescribing and access. Licensing partners handle selected markets outside the United States, producing milestones and royalties.

FILSPARI generates most product sales, while tiopronin faces increased competition. Sales depend on specialty channels and reimbursement; development and approved labels remain subject to drug regulation. Manufacturing and distribution are outsourced, with FILSPARI and Thiola relying on sole-source third parties.

Company facts

CEOEric Dube

ListedNov 8, 2012

ExchangeNASDAQ

HeadquartersSan Diego, CA

CountryUnited States

Employees497

CIK0001438533

ISINUS89422G1076

Key statistics

Market cap$6.11B

EPS (ttm)−$0.4900

P/E (ttm)−134.02

ROE-55.8%

P/B250.34

P/S10.33

Dividend yield—

Beta1.52vs XLV 0.48

Year to date +66.1% · Average volume (30d) 1.5M

Analysts

Price target, next 12 months$67.00+2.0%Median of 18 analysts · vs the Aug 28 close

ConsensusBuy15 of 18 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $65.67

High$78.00+18.8%

Median$67.00+2.0%

Low$49.00−25.4%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Rating	Prior target	Target
Aug 10, 2026	Evercore ISI	Target		$33	$78
Aug 6, 2026	Canaccord Genuity	Reiterate	Buy	$23	$70
Jun 25, 2026	Guggenheim	Reiterate	Buy	$54	$65
Jun 2, 2026	H.C. Wainwright	Target		$18	$67
Apr 14, 2026	Piper Sandler	Target		$12	$49

Earnings

EPS

Estimate$0.03

ReportedDue Oct 29, 2026

Revenue

Estimate$195.2M

ReportedDue Oct 29, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 4, 2026Q2 FY26	−$0.13	−$0.37	−174.8%	$157.3M	$169.6M	+7.8%	+12.03%
May 4, 2026Q1 FY26	−$0.30	−$0.39	−30.0%	$136.2M	$127.2M	−6.6%	−0.24%
Feb 19, 2026Q4 FY25	$0.03	$0.03	0.0%	$144.6M	$129.7M	−10.3%	+3.72%
Oct 30, 2025Q3 FY25	−$0.31	$0.28	+190.3%	$147.0M	$164.9M	+12.2%	+18.58%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$81.7M	$114.4M	$164.9M	$129.7M	$127.2M	$169.6M
Gross profit	$77.1M	$112.9M	$163.3M	$127.1M	$100.4M	$167.4M
Operating income	−$42.7M	−$12.7M	$24.9M	−$32.4M	−$36.9M	$4.0M
Net income	−$41.2M	−$12.8M	$25.7M	$2.7M	−$37.1M	−$34.8M
Diluted EPS	−$0.47	−$0.14	$0.25	$0.03	−$0.40	−$0.37
Gross margin	94.3%	98.7%	99.0%	98.0%	79.0%	98.7%
Operating margin	-52.2%	-11.1%	15.1%	-25.0%	-29.0%	2.3%

Fiscal years (4-quarter sums)FY21 $227.5M · FY22 $186.6M · FY23 $171.3M · FY24 $233.2M · FY25 $490.7M

Revenue by product · Q2 FY26

Product$161.4M · 95%

License$8.2M · 5%

Balance sheet, Jun 30, 2026Cash & short-term investments $489.2M · Total debt $616.9M · Total assets $799.4M · Shareholders' equity $24.5M

Dividends

No dividends on record.

Ownership

Institutions 119.79%Insiders 1.61%

A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.

Shares outstanding 92.99M · Float 90.37M · 97.2% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Jupiter Topco LLC	11.32M	12.18%	13F	Aug 14, 2026
Janus Henderson Group PLC	10.60M	11.90%	13G	Nov 14, 2025
BlackRock, Inc.	8.02M	8.63%	13F	Aug 7, 2026
FMR LLC	7.10M	7.63%	13F	Aug 13, 2026
Bank of America Corp /DE/	4.57M	4.91%	13F	Aug 14, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Aug 18, 2026	Gary A. Lyons	director	−5,000	$63.37
Aug 17, 2026	Gary A. Lyons	director	−5,000	$63.20
Jun 12, 2026	Roy D. Baynes	director	−4,500	$50.00
Jun 12, 2026	Timothy Coughlin	director	−10,000	$50.07
May 15, 2026	Timothy Coughlin	director	−3,250	$43.49