Travere Therapeutics Inc. shares reached a 52-week high of $67.97 on Friday, extending a rally driven by strong sales of its kidney disease treatment FILSPARI. The stock has gained 243% over the past 12 months, according to market data.
Second-quarter revenue totaled $169.6 million, exceeding Wall Street’s forecast of $160.66 million. FILSPARI, approved for IgA nephropathy and newly launched for focal segmental glomerulosclerosis (FSGS), generated $141.1 million in U.S. net product sales—a 96% year-over-year increase. The drug’s first full quarter of availability for both indications contributed to total U.S. sales of $161.4 million, while licensing and collaboration revenue added $8.2 million. The company closed the quarter with $489.2 million in cash, equivalents, and marketable securities.
FILSPARI’s momentum continued with 2,012 start forms recorded in Q2, surpassing expectations. Analyst coverage reflected the improved outlook: Stifel raised its price target to $62 from $43 but maintained a Hold rating, citing valuation concerns despite the revenue beat.
InvestingPro data indicated the stock was trading above its fair value estimate, underscoring the sharp rally in recent months.
