What Travere Therapeutics (TVTX) said on its Q3 earnings call. Travere Therapeutics (NASDAQ:TVTX) reported third-quarter results marked by record FILSPARI sales, continued early adoption in focal segmental glomerulosclerosis (FSGS), and progress across its kidney-disease and rare-disease pipeline. Total U.S. net product sales reached $220.2 million in the third quarter, led by $200.2 million in FILSPARI sales. FILSPARI sales increased approximately 120% from a year earlier, reflecting continued growth in immunoglobulin A nephropathy (IgAN) and the first significant revenue contribution from the recently approved FSGS indication. THIOLA and THIOLA EC generated $20 million in U.S. net product sales. Including $4.4 million in licensing and collaboration revenue, total revenue was $224.6 million. The company ended Sept. 30 with approximately $471.8 million in cash, cash equivalents and marketable securities. FILSPARI Demand and FSGS Launch. Chief Commercial Officer Peter Heerma said Travere received 1,932 new patient start forms for FILSPARI across IgAN and FSGS during the quarter, a period that typically experiences summer seasonality. He said demand, conversion of prescriptions to paid therapy and patient adherence remained strong. Heerma said FSGS demand grew sequentially from the second quarter, while IgAN demand remained high but declined modestly from the prior quarter. He attributed the IgAN comparison partly to seasonality and pent-up demand in the second quarter. The company does not provide start-form guidance or break out performance by indication. Travere said conversion to paid prescriptions in FSGS has progressed more quickly than in the earlier IgAN launch and is approaching the level seen in IgAN. Most payers have updated their FSGS-specific coverage policies to include FILSPARI, according to management. The company said roughly 40% of first-time FSGS prescribers during the quarter were new to FILSPARI, potentially expanding the product's reach in both FSGS and IgAN. Approximately two-thirds of physicians who have prescribed FILSPARI for FSGS have treated only one FSGS patient since the launch, which Travere views as an opportunity to deepen use within practices. Management said use in pediatric FSGS patients, for whom FILSPARI is approved in patients age 8 and older, has been consistent with the DUPLEX clinical trial, with pediatric patients representing up to 10% of treated patients. Travere said it has not observed access differences between pediatric and adult patients. FILSPARI's third-quarter sales included approximately $8 million related to specialty pharmacy inventory above historical levels. Heerma said the company expects fourth-quarter net sales to be reduced by approximately the same amount as specialty pharmacies dispense existing inventory and return to normal levels. Positioning in an evolving IgAN market. Travere described the IgAN market as increasingly dynamic as new therapies enter and nephrologists evaluate treatment sequencing and combinations. The company maintained that FILSPARI has an established role as a kidney-targeted treatment and could be used alongside immune-directed therapies rather than being replaced by them. Chief Executive Officer Eric Dube said higher-risk patients, generally characterized by proteinuria above 1.5 grams and more rapid estimated glomerular filtration rate, or eGFR, decline, may receive immune-directed treatment followed by optimized kidney-directed care. He said Travere expects B-cell therapies to replace historical steroid use for some patients, while FILSPARI, SGLT2 inhibitors and B-cell therapies may be used in combination. For the approximately 70% of IgAN patients with proteinuria below 1.5 grams, Travere sees an opportunity for earlier use of FILSPARI. Heerma said the majority of FILSPARI prescriptions are for patients without prior exposure to branded IgAN therapies. Management said it has not seen a change in trends involving patients switching away from FILSPARI following new market entries. It also said payers have not created meaningful barriers to using FILSPARI after immune-directed therapy. Clinical data and pipeline updates. Chief Medical Officer Jula Inrig highlighted data presented at ASN Kidney Week. In the Phase III PROTECT study in IgAN, FILSPARI showed greater proteinuria reduction and slower eGFR decline versus maximally dosed irbesartan, according to the company. A new analysis from DUPLEX in FSGS patients without nephrotic syndrome showed greater proteinuria reduction and nominally significant slowing of eGFR decline. Travere also presented final two-year results from the SPARTAN study in newly diagnosed IgAN patients. The company said 75% of patients treated with FILSPARI as first-line therapy achieved complete proteinuria remission at least once, with stable kidney function over two years without immunosuppression. Enrollment has been completed in the SPARX study of FILSPARI in recurrent FSGS and IgAN following kidney transplantation, with data anticipated in 2027. Travere also plans to initiate SPARLIGHT later this year, a Phase IV study involving adult and pediatric FSGS patients of African ancestry who are at risk of disease progression. For pegtibatinase, Travere said enrollment has progressed substantially in the Phase III HARMONY study in classical homocystinuria, or HCU. The company continues to expect topline results in the second half of 2027. Inrig said earlier Phase I/II COMPOSE results showed an approximately 67% mean relative reduction in total homocysteine. Travere also said it expects to submit a U.S. investigational new drug application by year-end for civorebrutinib, an oral BTK inhibitor being evaluated for immune-mediated kidney diseases. The company is prioritizing primary membranous nephropathy, FSGS and minimal change disease for development planning. Expenses and leadership transition. Total GAAP research and development and selling, general and administrative expenses were $168.7 million, including approximately $23.8 million in non-cash stock-based compensation and depreciation. The company recorded $113.1 million in in-process research and development expense, primarily related to the $112.5 million upfront payment and associated costs from its Everest licensing agreement. Dube said he will step down in December. He said Bradley, who is scheduled to join Travere on Dec. 1, has been involved in transition planning and will lead the company in its next chapter. Travere reiterated its expectation that FILSPARI can achieve or exceed $3 billion in annual sales by 2033. About Travere Therapeutics (NASDAQ:TVTX). Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare diseases, with an emphasis on serious kidney conditions. The company's work centers on addressing diseases with limited treatment options and improving outcomes for patients with progressive renal disorders. Travere's lead commercial product is FILSPARI (sparsentan), an oral treatment for adults with primary immunoglobulin A nephropathy (IgA nephropathy) who are at risk of disease progression.

Travere Therapeutics (NASDAQ:TVTX) shares gap down following weak earnings. November 3, 2026 Key points. * Travere Therapeutics shares fell sharply after the company reported a third-quarter loss of $0.55 per share, far worse than the $0.10 loss analysts expected. The stock opened at $46.52 versus a prior close of $49.26 and last traded near $45.78. * Despite the earnings miss, revenue rose 36.2% year over year to $224.56 million, exceeding estimates, while FILSPARI sales reached approximately $200 million as adoption expanded in kidney diseases. * Wall Street remains generally positive, with ten analysts rating the stock Buy and two Sell; the consensus rating is Moderate Buy with a $69.50 price target, although insiders have sold about 1.29 million shares worth $79.5 million over the past three months. * Five stocks we like better than Travere Therapeutics. Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) shares gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $49.26, but opened at $46.52. Travere Therapeutics shares last traded at $45.7810, with a volume of 1,225,620 shares. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.45). The company had revenue of $224.56 million for the quarter, compared to analyst estimates of $195.29 million. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%. The firm's revenue for the quarter was up 36.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 earnings per share. Key headlines impacting Travere Therapeutics. Here are the key news stories impacting Travere Therapeutics this week: * Third-quarter revenue rose 36.2% year over year to approximately $224.6 million, exceeding the $195.3 million analyst consensus. FILSPARI net product sales reached $200 million, reflecting continued expansion in IgA nephropathy (IgAN) and focal segmental glomerulosclerosis (FSGS). * A valuation analysis argued that Travere could be about 34% undervalued following its third-quarter loss, potentially supporting the stock if investors place greater weight on the company's revenue growth and commercial execution. Wall Street analysts forecast growth. Several equities analysts have recently commented on the stock. Citigroup upped their price target on shares of Travere Therapeutics from $70.00 to $85.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. TD Cowen lifted their price objective on shares of Travere Therapeutics from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Evercore set a $78.00 target price on shares of Travere Therapeutics in a research note on Monday, August 10th. Canaccord Genuity Group upped their target price on shares of Travere Therapeutics from $62.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Finally, HC Wainwright restated a "buy" rating and issued a $67.00 price target on shares of Travere Therapeutics in a research note on Tuesday, September 22nd. Ten research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Travere Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $69.50. Discover more MarketBeat All Access Stock Market News Stock Screener Tool Insider activity at Travere Therapeutics. In related news, EVP Jula Inrig sold 44,674 shares of Travere Therapeutics stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $62.34, for a total transaction of $2,784,977.16. Following the sale, the executive vice president directly owned 100,491 shares in the company, valued at $6,264,608.94. The trade was a 30.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Heerma sold 172,717 shares of the firm's stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $63.43, for a total transaction of $10,955,439.31. Following the transaction, the executive vice president directly owned 117,066 shares in the company, valued at approximately $7,425,496.38. The trade was a 59.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 1,294,029 shares of company stock valued at $79,454,261. 4.44% of the stock is owned by corporate insiders. Institutional trading of Travere Therapeutics. Several institutional investors have recently modified their holdings of the company. Jupiter Topco LLC bought a new stake in Travere Therapeutics in the second quarter worth about $643,299,000. Bank of America Corp DE bought a new position in shares of Travere Therapeutics during the 2nd quarter valued at about $259,527,000. Wellington Management Group LLP boosted its position in shares of Travere Therapeutics by 50.0% during the 2nd quarter. Wellington Management Group LLP now owns 1,533,080 shares of the company's stock valued at $87,094,000 after purchasing an additional 510,808 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Travere Therapeutics by 168.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,145,414 shares of the company's stock worth $67,442,000 after purchasing an additional 718,109 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of Travere Therapeutics in the 2nd quarter worth approximately $26,723,000. Travere Therapeutics price performance. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58. The business's fifty day moving average is $58.73 and its 200 day moving average is $46.56. The firm has a market capitalization of $4.38 billion, a P/E ratio of -99.88 and a beta of 1.13. About Travere Therapeutics. Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare diseases, with an emphasis on serious kidney conditions. The company's work centers on addressing diseases with limited treatment options and improving outcomes for patients with progressive renal disorders. Travere's lead commercial product is FILSPARI (sparsentan), an oral treatment for adults with primary immunoglobulin A nephropathy (IgA nephropathy) who are at risk of disease progression. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider Travere Therapeutics, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. 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Kappa alpha psi(r) fraternity, inc. partners with the African American Male Wellness agency(r) at the 2027 rose parade(r). Reading Time: 3 minutes Rare kidney diseases pose an overlooked risk for Black Americans. Genetic factors linked to rare kidney diseases are drawing new attention as researchers pursue treatments and community organizations work to close an awareness gap. (Caption: Kidney disease is developed by Black Americans at roughly five times the rate of White Americans.) A health threat cannot be addressed if people do not know it exists. For Black Americans, that can be especially consequential when it comes to kidney disease. Black Americans develop kidney disease at roughly five times the rate of White Americans, and the disparity becomes even more pronounced when kidney disease progresses to kidney failure. The reasons for the disparity are complex, involving conditions such as high blood pressure and diabetes, as well as differences in access to care and other social and structural factors. Researchers have also identified genetic factors that can increase the risk of kidney disease among people of African ancestry. One of the most significant is the APOL1 gene. Certain APOL1 variants are common among people with African ancestry. Most people who carry one or two risk variants will not necessarily develop kidney disease, however, having two risk variants is associated with a substantially higher risk of developing APOL1-mediated kidney disease (AMKD). (Caption: Kidney disease can be caused by hypertension.) The connection is particularly important in understanding focal segmental glomerulosclerosis (FSGS), a kidney disease that causes scarring in parts of the kidney's filtering units. FSGS can cause protein to leak into the urine and, in some patients, progress to kidney failure. For some Black patients, kidney damage associated with APOL1 variants may be overlooked or attributed to other common causes of kidney disease, including hypertension. By the time kidney disease becomes advanced, the damage can be permanent and the risk of serious complications increases. That makes earlier recognition particularly important as new treatment options become available. But advances in treatment are only meaningful if the people most affected by a disease know that the disease exists and understand the importance of seeking care. That awareness gap was part of the conversation at Black Men's Wellness Day in Houston, hosted by the African American Male Wellness Agency (AAMWA), where Travere Therapeutics provided education about kidney health and rare kidney diseases to attendees. "Some people here that we met are actually on dialysis. They're on a transplant list, and they don't even know why. And that is alarming," said a Travere representative. Travere Therapeutics partnership with AAMWA extends their work into Black communities through Black Men's Wellness Day. Black Men's Wellness Day, AAMWA's flagship health initiative, is held in more than 20 cities nationwide. For Travere, BMWD provides a community-based platform to connect individuals who may not routinely encounter information about conditions such as FSGS and APOL1-mediated kidney disease, while AAMWA provides the reach and community presence to bring that information to people where they live. "Companies are looking for strategic partners that can help them reach and engage the communities they want to serve," said La'Var Howell, director of communications and public relations for AAMWA. "AAMWA gives companies like Travere a trusted platform to bring their expertise and resources directly into Black communities, helping them scale their impact and maximize the value of their investment." With access to a national network of Black communities, Travere can take its kidney-health education further as significant advances continue to reshape the rare kidney disease landscape. You may also like. October 26, 2026 October 15, 2026