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Is Travere Therapeutics Setting Up for a Big Move?

imageStock Markets20 minutes ago (Jul 06, 2021 10:30AM ET)

(C) Reuters. Is Travere Therapeutics Setting Up for a Big Move?

After disappointing news from the FDA, Travere Therapeutics Inc. (TVTX) declined for a while, but has since fallen into a sideways trading range, where it has formed a resistance level of resistance and a level of support. If the stock breaks through either level, a big move is expected. Read more to find out how to profit from this trade.Travere Therapeutics Inc. (TVTX) is a biopharmaceutical company. The company is focused on the development and commercialization of therapies for people living with rare diseases. Its pipeline candidate, sparsentan, is an investigational product candidate for rare kidney disorders that often lead to end-stage kidney disease.

In its most recent earnings report, the company disappointed with earnings coming in at -$0.96, which was well below the consensus estimate of -$0.56. While earnings improved sequentially from the previous quarter, they were down year-over-year. The company also received disappointing news in May as the FDA won’t grant accelerated approval to its pipeline drug sparsentan.

The company does look good from a short-term debt perspective as it had $521 million in cash as of March, compared with no short-term debt. Unfortunately, its net profit margin is -113.2%. In terms of sales growth, the company has grown revenue an average of 10.4% per year over the past five years.

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Is Travere Therapeutics Setting Up for a Big Move?

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