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Travere (TVTX) Stock Jumps 5.2%: Will It Continue to Soar?

Zacks Equity Research
·2 分鐘文章

Travere Therapeutics (TVTX) shares soared 5.2% in the last trading session to close at $7.31. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9.6% gain over the past four weeks.

The sudden rise in the stock price has likely been driven by the growing optimism of investors regarding Filspari’s (sparsentan) potential to earn increasing revenues for the company. The drug, approved for treating IgA nephropathy, a form of kidney disease, has been witnessing solid uptake in the market. Travere recorded sales of $40 million in first-quarter 2024, up 65% year-over-year, primarily driven by an increase in sales from the ongoing commercial launch of Filspari. The company is also looking to expand the drug’s indication to include another type of kidney disease. Travere’s commercial portfolio also comprises Thiola EC/Thiola which is approved for cystinuria. Moreover, Travere’s clinical-stage pipeline has another late-stage candidate, being developed for homocystinuria, which is progressing well.

This drug developer is expected to post quarterly loss of $0.84 per share in its upcoming report, which represents a year-over-year change of +25.7%. Revenues are expected to be $49.5 million, down 17.1% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For Travere, the consensus EPS estimate for the quarter has been revised 0.5% 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 is part of the Zacks Medical - Biomedical and Genetics industry. BeiGene, Ltd. (BGNE), another stock in the same industry, closed the last trading session 0.4% higher at $156.11. BGNE has returned -0.4% in the past month.

BeiGene's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$2.25. Compared to the company's year-ago EPS, this represents a change of +38.2%. BeiGene currently boasts a Zacks Rank of #3 (Hold).

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