Travere Therapeutics stock has climbed roughly 110% from its 52-week low of around $6.80 to $14.30, as hedge funds such as Armistice Capital, Driehaus Capital Management, and Wellington Management have built positions around the company's rare kidney disease therapeutics. The biopharmaceutical company's lead asset, FILSPARI, has achieved full FDA approval for IgA nephropathy (IgAN), or Berger's disease.
Fourth quarter 2024 revenue reached $73.5 million, driven by FILSPARI's momentum in kidney disease treatment, while the company maintained a robust $370.7 million cash position. The performance has attracted attention from both specialized healthcare investors and broader institutional managers.
