On Friday, Travere cleared a key performance benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 75 the day before.

As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.

IBD's unique rating measures price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.

Over 100 years of market history reveals that the top-performing stocks tend to have an RS Rating north of 80 as they launch their biggest runs.

See How IBD Helps You Make More Money In Stocks

Travere has moved more than 5% past a 22.02 entry in a second-stage consolidation, meaning it's now out of a proper buy range. Look for the stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.

While earnings-per-share growth dropped last quarter from 0% to -77%, revenue rose 13%, up from -1% in the prior report.

Travere earns the No. 141 rank among its peers in the Medical-Biomed/Biotech industry group. Regeneron Pharmaceutical and Maravai Lifesciences are also among the group's highest-rated stocks.