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Strength Seen in Travere (TVTX): Can Its 8.8% Jump Turn into More Strength?
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Travere Therapeutics (TVTX - Free Report) shares ended the last trading session 8.8% higher at $9.49. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 19.9% gain over the past four weeks.
The company currently markets Filspari (sparsentan), which is approved for treating IgA nephropathy, a form of kidney disease. The drug has been witnessing solid uptake in the market so far, recording sales of $40 million in the first quarter of 2024. The growing optimism regarding Filspari’s potential to generate incremental sales might have driven the share price rally.
This drug developer is expected to post quarterly loss of $0.87 per share in its upcoming report, which represents a year-over-year change of +23%. 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.
For Travere, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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.
Travere is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Entrada Therapeutics, Inc. (TRDA - Free Report) , finished the last trading session 2.7% higher at $15.56. TRDA has returned -2.8% over the past month.
Entrada Therapeutics' consensus EPS estimate for the upcoming report has changed +2.1% over the past month to $0.65. Compared to the company's year-ago EPS, this represents a change of +183.3%. Entrada Therapeutics currently boasts a Zacks Rank of #1 (Strong Buy).
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Strength Seen in Travere (TVTX): Can Its 8.8% Jump Turn into More Strength?
Travere Therapeutics (TVTX - Free Report) shares ended the last trading session 8.8% higher at $9.49. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 19.9% gain over the past four weeks.
The company currently markets Filspari (sparsentan), which is approved for treating IgA nephropathy, a form of kidney disease. The drug has been witnessing solid uptake in the market so far, recording sales of $40 million in the first quarter of 2024. The growing optimism regarding Filspari’s potential to generate incremental sales might have driven the share price rally.
This drug developer is expected to post quarterly loss of $0.87 per share in its upcoming report, which represents a year-over-year change of +23%. 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.
For Travere, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Entrada Therapeutics, Inc. (TRDA - Free Report) , finished the last trading session 2.7% higher at $15.56. TRDA has returned -2.8% over the past month.
Entrada Therapeutics' consensus EPS estimate for the upcoming report has changed +2.1% over the past month to $0.65. Compared to the company's year-ago EPS, this represents a change of +183.3%. Entrada Therapeutics currently boasts a Zacks Rank of #1 (Strong Buy).