In a report released yesterday, Jason Zemansky from Bank of America Securities maintained a Buy rating on Travere Therapeutics, with a price target of $29.00.
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Jason Zemansky has given his Buy rating due to a combination of factors surrounding Travere Therapeutics’ recent developments with Filspari. The FDA’s decision to reduce the Risk Evaluation and Mitigation Strategy (REMS) requirements for Filspari, particularly removing the embryo-fetal toxicity program and reducing liver-monitoring frequency, is seen as a positive step. This change is expected to enhance the drug’s uptake for IgA nephropathy (IgAN) and potentially facilitate its approval for focal segmental glomerulosclerosis (FSGS).
Furthermore, the alignment of liver monitoring with standard office visit frequency is likely to lessen the administrative burden and improve patient compliance. The improved safety messaging is also anticipated to alleviate patient concerns, contributing to a stronger market position. Zemansky maintains a Buy rating with a price objective of $29, reflecting confidence in the drug’s growth potential and the company’s ability to execute its strategy effectively.
In another report released on August 22, Evercore ISI also maintained a Buy rating on the stock with a $45.00 price target.