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Travere Therapeutics, Inc. (TVTX) stock

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NASDAQ: TVTX Nasdaq Pharmaceuticals Next results ~January 21, 2027

C+ Fundamentals grade

Travere Therapeutics, Inc. is a US-listed company in the pharmaceuticals industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$36

Valuation models combined (4)

Base case. Range ~$17–$50. Weighted average of 4 models (growth cash-flow model, forward price-to-earnings vs peers, forward price-to-sales vs peers, revenue-to-maturity model), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Travere Therapeutics, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 11 selling0 purchases and 119 sales by directors and officers, last 12 monthsInsider trades
  • Funds204 adding, 114 cuttingOf 72 active managers that changed their stake, 40 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Travere Therapeutics files

Where Travere Therapeutics stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $591m, up 77.1% on a year earlier, slower than the 96.0% growth a quarter earlier. Free-cash-flow margin rose to 15.7% from -34.6% a year earlier. Operating margin widened to -6.8% from -51.6%. The diluted share count is up 7.9% on a year earlier, which dilutes existing holders. It passes 1 of our 3 financial-health checks. Our revenue-to-maturity cash-flow model value is $37.94 a share, against a share price of $50.45.

Source: 10-Q filed August 4, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 21, 2027 (estimated)

Travere Therapeutics, Inc.'s trailing-twelve-month revenue grew 49.4% year on year, with a free-cash-flow margin of 27.1%. Where it stands out: gross margin of 98.5% ranks 1 of 59 pharmaceuticals companies we cover. Where it lags: change in growth rate of -27.7pp ranks 68 of 74 pharmaceuticals companies we cover.

Current signal Revenue growth decelerating: TTM revenue growth slowed to 49.4% (-27.7pp vs the prior quarter), the 4th consecutive quarterly slowdown.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 49.4% over the last 12 months, against a median of 10.0% for pharmaceuticals companies we cover.
  • Strong cash generation. 27.1% of revenue turned into free cash flow, against a median of 10.1% for pharmaceuticals companies we cover.
  • Shrinking share count. Diluted shares fell 1.7% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $0.1bn.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 13.0% over 90 days.

Things to watch

  • Growth slowing. The growth rate is 27.7 points lower than a quarter earlier.
  • Loss-making. Operating margin is -20.5%: costs exceed revenue.
  • Volatile shares. Over the past year the shares showed annualised volatility of 62% and a beta of 1.3 against the S&P 500.
  • Insiders selling. 11 insiders sold $113M of stock over the past 365 days and none bought (99% under pre-set trading plans).
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 11.2% ranks 56 of 69 pharmaceuticals companies we cover (median 3.6%).
  • Heavily shorted. 15.1% of the shares available to trade are sold short (5.6 days of average volume to cover).

Latest results: FY2026 Q3

Filed November 2, 2026
Earnings per share
-$0.31 against an average estimate of $0.42: missed by 174.3%
Revenue
$225m, up 36.2% on a year earlier
Next report
November 2, 2026; average EPS estimate $0.93

Travere Therapeutics' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-1.8%
  • 1 week-4.9%
  • 1 month-15.0%
  • This year+28.9%
  • 1 year+40.1%
  • 5 years+56.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$651M
Operating margin
-20.5%
Net margin
-18.7%
EPS (TTM, diluted)
$-1.36

Growth

Revenue growth
+49.4%
Change in growth rate
−27.7 pts
Share count change
−1.7%

Cash

Free cash flow (TTM)
$177M
FCF margin
27.1%
Stock pay % of revenue
11.2%

Earnings

Last results
November 2, 2026
Next results (est.)
January 21, 2027

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Insider trade
  3. Leadership
  4. Insider trade
  5. Insider trade
  6. Insider trade
  7. Insider trade
  8. Insider trade
  9. Results
  10. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Travere Therapeutics, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Travere Therapeutics, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.1%: the 10-year Treasury yield (4.9%) plus a beta of 1.15 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$29 ~$17–$39 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$48 ~$50–$99 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$17 ~$14–$42 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$50 ~$42–$59 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$36 ~$17–$50 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Travere Therapeutics, Inc. with Pharmaceuticals in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$18.93$21.07$22.63$14.20$27.25$31.04$21.03$8.99$17.42$38.21$49.26
Market value$725m$817m$915m$601m$1.3bn$1.9bn$1.3bn$668m$1.4bn$3.4bn$4.4bn
+ Net debt (− = net cash)$3m−$54m$115m$142m$131m$61m$314m$319m$320m$219m−$124m
Enterprise value$728m$763m$1.0bn$744m$1.4bn$1.9bn$1.7bn$987m$1.7bn$3.6bn$4.3bn
Multiples
Price / sales 5.4x5.3x5.6x3.4x6.5x14.1x12.2x4.6x5.9x6.9x6.8x
Price / earnings ———————————
Price / free cash flow —125.4x———————90.2x24.9x
EV / EBITDA ———————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

36 /100

Weak moat

How hard Travere Therapeutics's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 11 / 20

    Cash operating profit has been a median 8.9% of total assets over 9 years.

  • Pricing power 20 / 20

    Gross margin has been a median 96.9%, moving by 2.5 percentage points (standard deviation) across 9 years.

  • Durability 10 / 20

    Operating margin has been a median -66.2%; its worst year was -762.2%.

  • Cash conversion 1 / 20

    Free cash flow was positive in 1 of 9 years, at a median -18.7% of revenue.

  • Discipline 0 / 20

    The diluted share count rose 56.2% over five years; stock-based pay has been a median 12.6% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (41 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.45 +59% $777m +58%
Next $5.39 +272% $1.1bn +40%

Next year's EPS estimate has moved +13.0% in 90 days, across 8 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −22.9% on 90 days ago. In the last 30 days, 1 analyst raised Travere Therapeutics, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Travere Therapeutics, Inc., last 90 days
$0.00 $2.00 $4.00 $6.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.88 Current fiscal year, 60 days ago: $1.74 Current fiscal year, 30 days ago: $1.74 Current fiscal year, 7 days ago: $1.67 Current fiscal year, Now: $1.45 $1.45 Next fiscal year, 90 days ago: $4.77 Next fiscal year, 60 days ago: $5.67 Next fiscal year, 30 days ago: $5.67 Next fiscal year, 7 days ago: $5.70 Next fiscal year, Now: $5.39 $5.39

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.88$4.77
60 days ago $1.74$5.67
30 days ago $1.74$5.67
7 days ago $1.67$5.70
Now $1.45$5.39

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.42 −$0.31 −174.3%
Jun 2026 $0.32 −$0.10 −131.0%
Mar 2026 −$0.06 $0.05 +187.0%
Dec 2025 $0.37 $0.37 −0.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

15 analysts, Nov 2026
Buy1493%
Hold17%
Sell00%

Monthly trend

  1. Nov 202621215
  2. Oct 202621215
  3. Sep 202621215

Counts of recommendations published by analysts covering Travere Therapeutics, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
15.1%
of tradable shares
Days to cover
5.59
at average volume
Short interest, 1 month
−16%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.7%
of shares
Employees
497
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +40.1%

$35.16 on October 31, 2025 to $49.26

ThenNowEffect
Revenue (last 12 months) $334m $591m +77.1%
P/S multiple 8.9x 7.6x −14.7%
Share count 85m 91m −7.3%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

Last 3 years +606.7%

$6.97 on November 3, 2023 to $49.26

ThenNowEffect
Revenue (last 12 months) $120m $591m +390.7%
P/S multiple 3.9x 7.6x +92.9%
Share count 68m 91m −25.3%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
TVTX+14%−32%−57%+94%+119%+29%
Industry peers (median)−20%−52%−13%−2%+7%−14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
TVTX42%25%33%58%75%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
TVTX−59%−41%−76%−46%−43%−32%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 84% from September 4, 2018 to April 26, 2024. Getting back needed a 511% gain, reached on October 31, 2025, 553 days after the low.

Price behaviour

52-week range
$26.79 – $67.52
From 52-week high
−27.0%
vs 50-day average
−16.1%
vs 200-day average
+5.4%
Volatility (1 year)
62%
Beta vs S&P 500
1.31

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 5 down
typical move ±7.7%
After a week
6 up, 5 down
typical move ±8.0%
After a month
7 up, 4 down
typical move ±14.9%
Results releasedNext dayS&P 500 next day5 days21 days
August 4, 2026 +14.2% +1.6% +9.5% +22.3%
May 4, 2026 +1.5% +0.4% −1.4% +2.4%
February 19, 2026 +9.0% +0.5% +6.6% −3.7%
January 12, 2026 −15.8% 0.0% −19.2% −12.6%
October 30, 2025 +17.3% −0.8% +11.1% +17.4%
August 6, 2025 +1.4% +0.7% +8.2% +29.7%
February 20, 2025 −5.8% −2.1% −11.5% −12.0%
January 13, 2025 −5.6% +0.3% +7.6% +28.2%
October 31, 2024 −1.0% −1.5% −0.5% +10.2%
August 1, 2024 −5.7% −3.3% −10.6% −0.7%
May 6, 2024 +7.8% +1.1% +1.3% +25.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Travere Therapeutics, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Travere Therapeutics, Inc.
$0 $200M $400M $600M $800M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $145.2M Revenue (TTM), FY24 Q1: $155.7M Revenue (TTM), FY24 Q2: $177.6M Revenue (TTM), FY24 Q3: $203.4M Revenue (TTM), FY24 Q4: $233.2M Revenue (TTM), FY25 Q1: $273.5M Revenue (TTM), FY25 Q2: $333.9M Revenue (TTM), FY25 Q3: $435.8M Revenue (TTM), FY25 Q4: $490.7M Revenue (TTM), FY26 Q1: $536.2M Revenue (TTM), FY26 Q2: $591.3M Revenue (TTM), FY26 Q3: $651M $651M

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $145.2M
FY24 Q1 $155.7M
FY24 Q2 $177.6M
FY24 Q3 $203.4M
FY24 Q4 $233.2M
FY25 Q1 $273.5M
FY25 Q2 $333.9M
FY25 Q3 $435.8M
FY25 Q4 $490.7M
FY26 Q1 $536.2M
FY26 Q2 $591.3M
FY26 Q3 $651M
Revenue growth, TTM YoY Travere Therapeutics, Inc.
0% 50% 100% 150% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 32.7% Revenue growth, TTM YoY, FY24 Q1: 33.2% Revenue growth, TTM YoY, FY24 Q2: 47.4% Revenue growth, TTM YoY, FY24 Q3: 57.1% Revenue growth, TTM YoY, FY24 Q4: 60.5% Revenue growth, TTM YoY, FY25 Q1: 75.7% Revenue growth, TTM YoY, FY25 Q2: 87.9% Revenue growth, TTM YoY, FY25 Q3: 114.2% Revenue growth, TTM YoY, FY25 Q4: 110.5% Revenue growth, TTM YoY, FY26 Q1: 96.0% Revenue growth, TTM YoY, FY26 Q2: 77.1% Revenue growth, TTM YoY, FY26 Q3: 49.4% 49.4%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 32.7%
FY24 Q1 33.2%
FY24 Q2 47.4%
FY24 Q3 57.1%
FY24 Q4 60.5%
FY25 Q1 75.7%
FY25 Q2 87.9%
FY25 Q3 114.2%
FY25 Q4 110.5%
FY26 Q1 96.0%
FY26 Q2 77.1%
FY26 Q3 49.4%
Operating margin (TTM) Travere Therapeutics, Inc.
-300% -200% -100% 0% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: -267.2% Operating margin (TTM), FY24 Q1: -276.1% Operating margin (TTM), FY24 Q2: -221.7% Operating margin (TTM), FY24 Q3: -175.6% Operating margin (TTM), FY24 Q4: -138.9% Operating margin (TTM), FY25 Q1: -83.1% Operating margin (TTM), FY25 Q2: -51.6% Operating margin (TTM), FY25 Q3: -20.9% Operating margin (TTM), FY25 Q4: -12.8% Operating margin (TTM), FY26 Q1: -10.6% Operating margin (TTM), FY26 Q2: -6.8% Operating margin (TTM), FY26 Q3: -20.5% -20.5%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 -267.2%
FY24 Q1 -276.1%
FY24 Q2 -221.7%
FY24 Q3 -175.6%
FY24 Q4 -138.9%
FY25 Q1 -83.1%
FY25 Q2 -51.6%
FY25 Q3 -20.9%
FY25 Q4 -12.8%
FY26 Q1 -10.6%
FY26 Q2 -6.8%
FY26 Q3 -20.5%
FCF margin (TTM) Travere Therapeutics, Inc.
-300% -200% -100% 0% 100% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: -193.3% FCF margin (TTM), FY24 Q1: -204.2% FCF margin (TTM), FY24 Q2: -162.7% FCF margin (TTM), FY24 Q3: -133.9% FCF margin (TTM), FY24 Q4: -101.8% FCF margin (TTM), FY25 Q1: -58.7% FCF margin (TTM), FY25 Q2: -34.6% FCF margin (TTM), FY25 Q3: -13.4% FCF margin (TTM), FY25 Q4: 7.7% FCF margin (TTM), FY26 Q1: 7.4% FCF margin (TTM), FY26 Q2: 15.7% FCF margin (TTM), FY26 Q3: 27.1% 27.1%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 -193.3%
FY24 Q1 -204.2%
FY24 Q2 -162.7%
FY24 Q3 -133.9%
FY24 Q4 -101.8%
FY25 Q1 -58.7%
FY25 Q2 -34.6%
FY25 Q3 -13.4%
FY25 Q4 7.7%
FY26 Q1 7.4%
FY26 Q2 15.7%
FY26 Q3 27.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2011 Feb 2011 2012 Feb 2012 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 0 0 134 155 164 175 198 132 109 145 233 491 651
Gross profit — — 129 151 159 170 192 128 105 134 225 480 641
EBITDA — — −42 −36 −61 −117 −152 −187 −299 −350 −280 −2 −81
Operating income — — −58 −54 −80 −137 −176 −199 −320 −388 −324 −63 −133
Net income −0 — −48 −60 −103 −146 −169 −180 −278 −111 −322 −26 −122
Diluted EPS — — −$1.29 −$1.54 −$2.54 −$3.46 −$3.56 −$3.01 −$4.37 −$1.50 −$4.08 −$0.29 −$1.36
Growth (year on year)
Revenue — — — +16.0% +6.0% +6.8% +13.1% −33.5% −17.0% +32.7% +60.5% +110.5% +49.4%
Margins
Gross margin — — 96.6% 97.7% 96.6% 97.0% 96.9% 97.1% 96.0% 92.1% 96.7% 97.9% 98.5%
EBITDA margin — — −31.5% −23.2% −37.4% −66.7% −76.4% −141.6% −273.2% −240.7% −120.2% −0.4% −12.4%
Operating margin — — −43.6% −34.7% −48.7% −78.3% −88.8% −151.3% −292.2% −267.2% −138.9% −12.8% −20.5%
Net margin — — −35.9% −38.6% −62.5% −83.5% −85.4% −136.6% −254.4% −76.7% −137.9% −5.2% −18.7%
Free-cash-flow margin — — −3.6% 4.2% −15.6% −33.3% −25.0% −15.1% −170.4% −193.3% −101.8% 7.7% 27.1%
Cash flow
Cash from operations −0 — −3 7 −25 −58 −43 −15 −186 −280 −237 38 177
Capital spending — 0 1 1 1 0 7 5 0 1 0 0 0
Free cash flow — — −5 7 −26 −58 −50 −20 −186 −281 −237 38 177
Stock-based pay — — 29 27 20 21 24 30 38 44 37 45 73
Free cash flow after stock pay — — −34 −20 −45 −80 −73 −49 −225 −325 −274 −7 104
Balance sheet
Cash — — 41 99 103 62 85 166 62 58 59 93 124
Total debt — — 44 45 218 205 215 227 376 377 379 312 —
Net debt (negative = net cash) — — 3 −54 115 142 131 61 314 319 320 219 −124
Diluted shares — — 38m 39m 40m 42m 48m 60m 64m 74m 79m 89m 89m
Returned to shareholders
Buybacks — — 0 — — — — — — — — — —
Total returned — — 0 — — — — — — — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 3 checks passed · September 30, 2026
What it owns · $848m
Short-term assets $633mLonger-term assets $215m
What it owes, and who funded it · $848m
Short-term liabilities $211mLonger-term liabilities $615mShareholders' equity $23m
  • Short-term assets cover short-term liabilities $633m of assets due within a year against $211m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $633m short-term assets against $615m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of −$133m against $9m of interest.

From Travere Therapeutics, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
−1.7%
year over year
R&D spending
37.7%
of revenue
Sales & admin spending
64.2%
of revenue
Days sales outstanding
60 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in pharmaceuticals
Last 12 months unless stated TVTX EBS ALVO AMPH PCRX CORT Median
Revenue, last 12 months $651m $649m $586m $730m $746m $831m $276m
Revenue growth, last 12 months 49.4% −17.7% 19.7% 1.0% 5.7% 16.0% 9.9%
Revenue growth, 3-year average 71.3% −16.2% — 10.5% 3.7% 24.7% 5.5%
Revenue growth, latest quarter 36.2% −52.4% — 5.4% 6.2% 31.7% 6.5%
Gross margin 98.5% 48.4% 59.8% 47.7% 79.2% 98.3% 62.0%
Operating margin −20.5% −27.7% 13.3% 15.7% 2.7% 0.8% −5.9%
Operating margin, 3-year average −72.3% −8.5% — 24.3% 0.4% 12.5% −7.4%
Net margin −18.7% −40.2% 4.8% 10.8% 2.0% 6.6% −7.3%
Cash from operations / revenue 27.1% 30.8% −8.6% 25.3% 25.2% 13.2% 10.2%
Free-cash-flow margin 27.1% 29.0% −19.6% 20.9% 24.1% 12.9% 8.6%
Free-cash-flow margin, 3-year average −40.1% 13.8% — 20.5% 22.5% 19.9% 7.4%
Stock pay / revenue 11.2% 2.8% 1.3% 4.0% 7.5% 10.7% 3.6%
Change in share count −1.7% −0.6% 8.7% −7.8% −2.8% −2.2% 1.9%

Median of all 75 companies we cover in pharmaceuticals. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

75 pharmaceuticals companies
Measure Company Peer median Rank
Revenue growth Growth 49.4% 10.0% 11 of 74
Change in growth rate Growth -27.7pp -0.3pp 68 of 74
Gross margin Profitability 98.5% 59.8% 1 of 59
Operating margin Profitability -20.5% -5.9% 44 of 67
Net margin Profitability -18.7% -7.3% 49 of 75
Free-cash-flow margin Cash generation 27.1% 10.1% 9 of 74
Stock pay as % of revenue Cash generation 11.2% 3.6% 56 of 69
Change in share count Balance sheet -1.7% 1.5% 13 of 62
Days sales outstanding Balance sheet 60 days 72 days 19 of 59

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Products $410M 83.6% ▲ 81.1%
FILSPARI $322M 78.4% ▲ 143.5%
Tiopronin Products $88.5M 21.6% ▼ 6.4%
Licenses $80.3M 16.4% ▲ 1141.0%

From Travere Therapeutics, Inc.'s 10-K filed February 19, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$6B
Institutions reporting
314
Shares held vs prior quarter
▲ 4.1%
Positions opened / closed
85 / 28

Top buyers and sellers, Q2 2026: 204 institutions bought and 114 sold ; the biggest buyer was Bank Of America Corp (+3.2M shares) and the biggest seller FMR LLC (−3.9M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Jupiter Topco LLC $643M 11.3M 10.7% —
Blackrock, Inc. $456M 8.0M 7.6% ▲ 2.9%
FMR LLC $403M 7.1M 6.7% ▼ 35.3%
Bank Of America Corp $260M 4.6M 4.3% ▲ 239.6%
State Street Corp $242M 4.3M 4.0% ▼ 14.2%
Vanguard Capital Management LLC $233M 4.1M 3.9% ▲ 1.6%
Perceptive Advisors LLC $213M 3.8M 3.6% ▼ 9.4%
Nomura Asset Management International Inc. $160M 2.8M 2.7% ▼ 14.0%
Adage Capital Partners Gp, L.L.C. $146M 2.6M 2.4% ▲ 163.0%
Geode Capital Management, LLC $135M 2.4M 2.2% ▲ 0.1%
Rock Springs Capital Management LP $124M 2.2M 2.1% ▲ 47.4%
Kynam Capital Management, LP $114M 2.0M 1.9% ▲ 27.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Travere Therapeutics, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $113M 119 trades by 11 insiders · 99% under pre-set plans
Net ▼ $113M net selling
Insider Date Trade Shares Price Value
Dube Eric M CHIEF EXECUTIVE OFFICER October 15, 2026 Sell pre-set plan 78,400 $55.02 $4.3M
Dube Eric M CHIEF EXECUTIVE OFFICER October 15, 2026 Sell pre-set plan 37,270 $54.20 $2M
Dube Eric M CHIEF EXECUTIVE OFFICER October 15, 2026 Sell pre-set plan 128,065 $52.97 $6.8M
Dube Eric M CHIEF EXECUTIVE OFFICER September 17, 2026 Sell pre-set plan 101,691 $64.59 $6.6M
Dube Eric M CHIEF EXECUTIVE OFFICER September 17, 2026 Sell pre-set plan 6,802 $64.95 $441,790
Heerma Peter EVP, CHIEF COMMERCIAL OFFICER September 17, 2026 Sell pre-set plan 8,282 $65.07 $538,910
Dube Eric M CHIEF EXECUTIVE OFFICER September 16, 2026 Sell pre-set plan 96,125 $63.64 $6.1M
Dube Eric M CHIEF EXECUTIVE OFFICER September 16, 2026 Sell pre-set plan 99,716 $63.26 $6.3M
Heerma Peter EVP, CHIEF COMMERCIAL OFFICER September 16, 2026 Sell pre-set plan 79,113 $63.65 $5M
Heerma Peter EVP, CHIEF COMMERCIAL OFFICER September 16, 2026 Sell pre-set plan 93,604 $63.25 $5.9M
Rote William E. Chief Research Officer September 16, 2026 Sell pre-set plan 47,746 $63.61 $3M
Rote William E. Chief Research Officer September 16, 2026 Sell pre-set plan 65,104 $63.12 $4.1M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around January 21, 2027 estimated from the company's past filing pattern, not announced

  • November 2, 2026
  • August 4, 2026
  • May 4, 2026
  • February 19, 2026
  • January 12, 2026
  • October 30, 2025

Recent SEC filings

Data status

When each part of this page on Travere Therapeutics, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Travere Therapeutics, Inc. in brief

What does Travere Therapeutics, Inc. do?
Travere Therapeutics, Inc. is a US-listed company in the pharmaceuticals industry. Its financial year ends in December.
What is Travere Therapeutics, Inc.'s stock ticker?
Travere Therapeutics, Inc. trades under the ticker TVTX on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Travere Therapeutics, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Travere Therapeutics, Inc. reported revenue of $651M, 49.4% higher than a year earlier, according to its SEC filings.
What is Travere Therapeutics, Inc.'s free cash flow?
Travere Therapeutics, Inc.'s free-cash-flow margin is 27.1% of revenue over the trailing twelve months, ranking 9 of the 74 pharmaceuticals companies we cover.
Who are Travere Therapeutics, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Jupiter Topco LLC, Blackrock, Inc. and FMR LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Travere Therapeutics, Inc.'s market cap?
On November 2, 2026, Travere Therapeutics, Inc.'s market capitalisation was about $4.4B and net debt of -$124M. Market figures come from third-party market data and may be delayed.
Who are Travere Therapeutics, Inc.'s competitors?
In our Pharmaceuticals peer group, the companies closest to Travere Therapeutics, Inc. are Emergent Biosolutions Inc., Alvotech, Amphastar Pharmaceuticals, Inc., Pacira Biosciences, Inc. and Corcept Therapeutics Inc. The side-by-side comparison below sets their revenue, margins and growth against Travere Therapeutics, Inc.'s.
Are insiders buying or selling Travere Therapeutics, Inc. stock?
Over the last 12 months, Travere Therapeutics, Inc.'s directors and officers reported 0 open-market purchases and 119 sales on Form 4. The insider trading page charts every trade.
When is Travere Therapeutics, Inc.'s next earnings date?
Around January 21, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Travere Therapeutics, Inc. announces its own schedule.