Why did TVTX's Q1 earnings fall short in 2024?

Travere Therapeutics Inc (TVTX) experienced a shortfall in its Q1 2024 earnings, with a revenue surprise of $3.71 million and a net income surprise of $0.17, compared to the previous quarter. The diluted EPS for the quarter was not provided. However, analysts' opinions remain mixed, with a recent downgrade from Outperform to Market Perform by Tim Lugo from William Blair. Despite this, the average analyst price target is $36.29, with a high estimate of $45.00, indicating potential optimism about the company's future performance.

|code|Ticker|Name|Date|Revenue Surprise|Total Revenue|market_code|
|---|---|---|---|---|---|---|
|TVTX|TVTX.O|Travere Therapeutics|2024 Q1|-1476000|4.1374E7|185|
|TVTX|TVTX.O|Travere Therapeutics|2024 Q2|3720000|5.4116E7|185|
|TVTX|TVTX.O|Travere Therapeutics|2024 Q3|2030000|6.2898E7|185|
|TVTX|TVTX.O|Travere Therapeutics|2024 Q4|3710000|7.4787E7|185|

|code|Ticker|Name|Date|Net Income|market_code|
|---|---|---|---|---|---|
|TVTX|TVTX.O|Travere Therapeutics|2024 Q1|-1.36061E8|185|
|TVTX|TVTX.O|Travere Therapeutics|2024 Q2|-7.0409E7|185|
|TVTX|TVTX.O|Travere Therapeutics|2024 Q3|-5.4811E7|185|
|TVTX|TVTX.O|Travere Therapeutics|2024 Q4|-6.0264E7|185|

|code|Ticker|Name|Date|Estimate EPS|EPS Surprise|market_code|
|---|---|---|---|---|---|---|
|TVTX|TVTX.O|Travere Therapeutics|2024 Q1|-0.99|-0.52|185|
|TVTX|TVTX.O|Travere Therapeutics|2024 Q2|-0.79|0.14|185|
|TVTX|TVTX.O|Travere Therapeutics|2024 Q3|-0.67|-0.03|185|
|TVTX|TVTX.O|Travere Therapeutics|2024 Q4|-0.64|0.17|185|