Travere Therapeutics Inc. (NASDAQ:TVTX) shares surged 13.44% to $63.55 in after-hours trading on Tuesday after the biopharmaceutical company posted second-quarter revenue that beat analyst expectations, even as earnings missed.

Revenue Beat Drives Momentum

For the period ended Jun. 30, Travere reported total revenue of $169.58 million, exceeding analyst expectations of $159.32 million by 6.44%.

U.S. net product sales increased to $161.4 million, compared with $94.8 million a year earlier. Sales of flagship drug FILSPARI reached $141.1 million, marking a 96% year-over-year increase.

Wider Loss Doesn’t Dent Investor Enthusiasm

Earnings per share for the biotech came in at a loss of $0.10, falling short of the analyst estimate of $0.23 by 143.5%.

Net loss also widened to $34.8 million from $12.8 million last year, partly reflecting a $40 million charge tied to 2029 convertible note repurchases.

Trading Metrics, Technical Analysis

Travere has a market capitalization of $5.21 billion, with a 52-week high of $60.10 and a 52-week low of $15.60.

The stock has a Relative Strength Index (RSI) of 51.88.

Over the past 12 months, TVTX’s share price has gained 235.85%, and it has increased 90.09% over the past six months.

The mid-cap stock is currently trading at about 91% of its 52-week range, remaining near its annual high.

TVTX’s long-term trend and strong positioning indicate continued upside potential.

Price Action: The healthcare stock closed the regular session on Tuesday at $56.02, up 1.89%, according to Benzinga Pro.

With strong Momentum in the 97th percentile, Benzinga’s Edge Stock Rankings indicate that TVTX has a positive price trend across all time frames.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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