Why Travere Therapeutics Inc. (TVTX) Went Up On Tuesday?

We recently published a list of These 10 Companies Led Tuesday’s Charge. In this article, we are going to take a look at where Travere Therapeutics Inc. (NASDAQ:TVTX) stands against other companies that led Tuesday’s charge.

Wall Street’s main indices finished mixed on Tuesday, with the Nasdaq as the sole loser, as investors largely brushed off President Donald Trump’s tariff threats in hopes that countries would eventually reach a negotiated settlement.

Additionally, investors cheered signals from the Federal Reserve that a rate interest cut was not imminent, saying it would wait as necessary before implementing any rate adjustments.

The Dow Jones eked out a 0.28 percent gain, while the S&P 500 inched up 0.03 percent. The tech-heavy Nasdaq dropped 0.36 percent.

Ten companies on Tuesday led the charge amid a flurry of positive news sparking buying appetite. This article detailed the reasons behind their performance.

To come up with Tuesday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A laboratory technician working on a solution of rare diseases, housed in a cholic acid capsule.

Travere Therapeutics Inc. (NASDAQ:TVTX)

Shares of Travere surged by 12.56 percent on Tuesday to close at $23.75 apiece as investors gobbled up shares following plans to submit a supplemental new drug application (NDA) seeking traditional approval of Filspari, a new drug aimed at treating focal segmental glomerulosclerosis (FSGS), a rare kidney disorder. The submission plan followed the successful completion of TVTX’s Type C meeting with the US Food and Drug Administration.

“Treatment options for FSGS are desperately needed as there are currently no approved medicines indicated for this devastating, progressive, and complex rare kidney disorder that affects more than 40,000 adults and children in the US,” said TVTX President and CEO Eric Dube.

TVTX said it plans to submit the NDA around the end of the first quarter of the year. If approved, Filspari could become the first and only medicine to treat FSGS.

Overall, TVTX ranks 2nd on our list of companies that led Tuesday’s charge. While we acknowledge the potential of TVTX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as TVTX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.