Market Close
$36.00
$0.56 (1.58%)
Volume % Chg:
33%
Buy Point:
$28.69
Buy Range:
$28.69 - $30.12
Current Action:
Small cap Travere Therapeutics soared after reporting strong Q3 results. Plus, TVTX reaped a 20% gain in just five sessions, warranting a hold for at least eight weeks since the breakout day.
Leaderboard Analysis:
The newfound strength comes after Travere cleared a cup-with-handle base during the week ended Sept. 5. The relative strength line initially hit new highs in September too, highlighting the stock's outperformance vs. the S&P 500.
Backstory:
The company develops treatments to treat rare disorders in the fields of nephrology, blood and metabolism. It has climbed to $3 billion in market value. A member of IBD's biotech group, Travere reported its second straight quarter of triple-digit revenue growth, with sales up 162% to $164.9 million. Filspari sales totaled $90.9 million, up 155%. Filspari slows the decline of kidney function in patients who are at risk for their disease getting worse. The biotech ended Q3 with just over $250 million in cash. Travere isn't profitable yet, but it's expected to shave its net loss dramatically in 2025 to 40 cents a share, then turn its first annual profit of 82 cents a share in 2026. Travere has 89.5 million shares outstanding; funds own 74% of the share float of 85 million.
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