Loading…
Biotech selling Filspari, an oral drug for IgA nephropathy, a rare progressive kidney disease.
Biotech selling Filspari, an oral drug for IgA nephropathy, a rare progressive kidney disease.
Sells Filspari through specialty pharmacies on prescriptions written by kidney specialists, and relies on it for growth while older rare-disease drugs such as Thiola, for the kidney-stone disorder cystinuria, give a smaller, steadier base. Formerly Retrophin, it moved Filspari from accelerated to full US approval for IgA nephropathy in 2024.
Moat: narrow (IP / patents, regulatory licence). One of few approved oral therapies specifically for IgA nephropathy, with orphan-drug protections.
Headquarters: San Diego, California, United States · Founded: 2003 · Employees: 497
Size Travere Therapeutics (TVTX) is a United States Health Care company (Pharmaceuticals: Major) with a market value of $4.76B, the 1215th largest of 3,117 United States companies the cockpit tracks. Shares closed at $49.60 on 6 Nov 2026.
Performance Over six months the shares gained 16.4%, against +1.8% for the median peer and -1.1% for the United States market (cap-weighted) — 6th highest of 20 in its peer set.
Growth Revenue grew 49.4% over the last twelve months (peer median +11.4%); the operating margin is -3.1% (peer median 18.9%).
Valuation It trades at 16.9× forward earnings against a peer median of 32.2× (6th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 17% a year for seven years (Req g). Recent delivered growth is +20%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 19.5 points below its cost of capital (9.9% WACC).
Credit Travere Therapeutics has 1 bond outstanding ($525M).
Short interest Short interest is 11.6% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $651M | $491M | $233M | $145M | $109M |
| Revenue growth | — | +110% | +61% | +33% | — |
| Gross profit | $589M | $420M | $182M | $95.3M | $84.3M |
| EBITDA | $32.4M | -$2.08M | -$213M | -$338M | -$299M |
| Net income | -$154M | -$50.3M | -$322M | -$337M | -$278M |
| Free cash flow | $177M | $37.8M | -$237M | -$281M | -$186M |
| Capital expenditure | $90.9M | $58.2M | $36.2M | $42.3M | $28.6M |
| Total debt | $616M | $329M | $402M | $405M | $407M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Travere Therapeutics TVTX | $4.76B | +16% | +49% | -3% | 16.9× | 16.7% |
| Novartis NOVN.SW | $298B | +15% | -4% | 30% | 18.4× | 1.7% |
| Vera Therapeutics VERA | $2.15B | -18% | n/a | n/a | n/a | n/a |
| Vertex Pharmaceuticals VRTX | $139B | +27% | +11% | 35% | 29.0× | 6.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TVTX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.7% | +2.0% | 6th lowest of 20 |
| 6-month return | +16.4% | +1.8% | 6th highest of 20 |
| Distance from 52-week high | -27.8% | -28.3% | 10th highest of 21 |
| Revenue growth (TTM) | +49.4% | +11.4% | 3rd highest of 19 |
| Operating margin | -3.1% | 18.9% | 2nd lowest of 19 |
| Forward P/E | 16.9× | 32.2× | 6th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 16.7% | 8.0% | 6th most demanding of 18 |
| Growth delivered (Del g) | +19.9% | +9.7% | 5th highest of 18 |
| Hurdle (Req g minus delivered) | -3.2 pp | -2.5 pp | 9th least demanding of 18 |
| ROIC minus cost of capital | -19.5 pp | +5.9 pp | 2nd lowest of 17 |
| Net debt / EBITDA | 4.5× | -0.3× | most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Travere Therapeutics TVTX | United States | $4.76B | +16% | +49% | -3% | 16.9× | 16.7% | +19.9% |
| Humanwell Healthcare (Group) 600079.SS | China | $4.71B | +3% | -3% | 16% | 13.4× | -6.8% | +3.0% |
| Novast Laboratories 301569.SZ | China | $4.82B | n/a | +3% | 27% | n/a | 42.6% | +3.1% |
| Guangzhou Baiyunshan Pharmaceutical 600332.SS | China | $4.61B | -11% | +1% | 3% | 13.3× | -0.3% | +4.7% |
| Legend Biotech Corp. Sponsored ADR LEGN | United States | $4.53B | -17% | +60% | -4% | 64.5× | n/a | n/a |
| GlaxoSmithKline Pharmaceuticals GLAXO.NS | India | $4.53B | +2% | +12% | 33% | 35.9× | 25.2% | +5.5% |
| Camurus CAMX.ST | Sweden | $4.52B | +47% | 0% | 37% | 48.5× | 10.4% | +46.5% |
| Erasca ERAS | United States | $5.04B | +42% | n/a | n/a | n/a | n/a | n/a |
| Emcure Pharmaceuticals EMCURE.NS | India | $4.47B | +33% | +21% | 16% | 33.9× | 14.9% | +12.7% |
| Sunshine Guojian Pharmaceutical (Shanghai) 688336.SS | China | $4.47B | -34% | +227% | 74% | 46.9× | 3.3% | +45.1% |
| Definium Therapeutics DFTX | United States | $4.47B | +51% | n/a | n/a | n/a | n/a | n/a |
| SKBP 326030.KS | South Korea | $5.12B | -11% | +39% | 35% | 21.6× | 0.5% | +93.6% |
| Shenzhen Salubris Pharmaceuticals 002294.SZ | China | $5.18B | -39% | +14% | 11% | 41.6× | 15.5% | +9.7% |
| Ajanta Pharma AJANTPHARM.NS | India | $4.37B | +7% | +25% | 25% | 32.2× | 23.8% | +13.8% |
| HanmiPharm 128940.KS | South Korea | $4.36B | +2% | +14% | 16% | 16.8× | 5.0% | +7.5% |
| IPCA Laboratories IPCALAB.NS | India | $5.22B | +24% | +11% | 17% | 32.4× | 17.8% | +12.2% |
| Sumitomo Pharma 4506.T | Japan | $5.23B | +7% | +11% | 10% | 8.3× | 1.4% | -2.6% |
| Beijing TongRenTang 600085.SS | China | $5.27B | -8% | -17% | 8% | 31.2× | 2.7% | +6.2% |
| Supernus Pharmaceuticals SUPN | United States | $5.43B | -49% | +16% | 45% | 6.7× | 4.2% | +13.9% |
| PTC Therapeutics PTCT | United States | $5.47B | -11% | -35% | 22% | 34.8× | 8.0% | +35.4% |
| Tianjin Pharmaceutical Da Ren Tang 600329.SS | China | $4.11B | +4% | -13% | 20% | 31.4× | 17.8% | -5.8% |
Travere Therapeutics has 1 bond outstanding with $525M face value.