Shares of Travere Therapeutics, Inc. (TVTX) soared 5.23% on Wednesday, November 1st, 2024, driven primarily by analyst optimism surrounding the biopharmaceutical company despite its recent mixed earnings report.
On the same day, Barclays analyst Carter Gould maintained a Buy rating on TVTX stock, with a price target that suggests further upside potential. This positive analyst sentiment likely fueled bullish momentum in the stock, as multiple other analysts also weighed in with insights on the healthcare sector.
Meanwhile, TVTX reported its third-quarter earnings results for the period ended September 30th. While the company missed revenue expectations, posting a 94.9% year-over-year decline to $1.9 million, it beat on earnings per share (EPS), reporting an adjusted loss of $0.70 per share compared to analysts' expectations of a $0.68 loss. This mixed performance may have contributed to some volatility in the stock's trading.
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