Top 2% Travere Catapults To Profit-Taking Zone After Screaming Up Another Beat

Core Insights - Travere Therapeutics reported strong sales growth driven by its drug Filspari, which treats IgA nephropathy, achieving $90.9 million in sales for the September quarter, a 155% increase year-over-year, surpassing forecasts of $79 million [1][5] - The FDA has relaxed monitoring requirements for Filspari, reducing liver function checks from monthly to quarterly for the first year of treatment [2] - KDIGO guidelines now position Filspari as a potential foundational treatment for IgA nephropathy, enhancing its competitive standing [3] Financial Performance - Travere's total sales reached $164.9 million, exceeding market expectations of $105.2 million to $106 million [5] - The company reported a surprising profit of $0.28 per share, a turnaround from a loss of $0.70 per share in the same quarter last year, while analysts had predicted a loss of $0.30 [6] Market Reaction - Travere's stock surged 18.6% to close at $35.16, breaking out of a consolidation phase with a previous entry point at $28.69 [4] - The stock has been in a profit-taking zone after rising 20% to 25% above its entry point [4] Future Prospects - Travere is seeking FDA approval for Filspari in treating focal segmental glomerulosclerosis (FSGS), with a decision expected by January 13 [7] - The company has seen a slight decline in new patient start forms for Filspari, with 731 forms filled, down 2% from the previous quarter [5][6] - Analyst Laura Chico raised the price target for Travere stock from $32 to $37, maintaining an outperform rating [7] Stock Ratings - Travere Therapeutics holds a high IBD Digital Composite Rating of 98, indicating it outperforms 98% of all stocks based on fundamental and technical measures [8]