Buy Rating for Travere Therapeutics: Anticipated FDA Approval and Strategic Developments Signal Significant Upside Potential

Analyst Yigal Nochomovitz of Citi maintained a Buy rating on Travere Therapeutics (TVTX – Research Report), reducing the price target to $32.00.

Yigal Nochomovitz has given his Buy rating due to a combination of factors that suggest significant potential for Travere Therapeutics. One of the primary reasons is the anticipated FDA approval for the supplemental New Drug Application (sNDA) by August 28, 2025, which seeks to modify the Risk Evaluation and Mitigation Strategy (REMS) for Filspari in treating IgA Nephropathy (IgAN). The proposed changes include reducing liver monitoring frequency, which could lead to increased adoption of the drug if approved.
Furthermore, the potential for a lighter REMS could also benefit the upcoming label expansion for FSGS, expected to launch in the first quarter of 2026. This strategic development is likely to enhance the brand’s momentum and capitalize on the overlap of nephrologists treating both IgAN and FSGS. Nochomovitz believes the current stock price does not fully account for these opportunities, particularly in FSGS and HCU, indicating further upside potential.

Nochomovitz covers the Healthcare sector, focusing on stocks such as Arcturus Therapeutics, Summit Therapeutics, and Travere Therapeutics. According to TipRanks, Nochomovitz has an average return of 3.8% and a 39.10% success rate on recommended stocks.

In another report released yesterday, Bank of America Securities also maintained a Buy rating on the stock with a $28.00 price target.