Leerink Partners analyst Joseph Schwartz has reiterated their bullish stance on TVTX stock, giving a Buy rating on March 17.
Joseph Schwartz has given his Buy rating due to a combination of factors, including the recent submission of the supplemental New Drug Application (sNDA) for Filspari by Travere Therapeutics. This submission, which is slightly ahead of expectations, could lead to a potential launch in the latter half of the year, especially if priority review is granted by the FDA. The potential approval and launch of Filspari in the focal segmental glomerulosclerosis (FSGS) market represent a significant commercial opportunity, as there are currently no approved therapies for this severe condition.
Additionally, the regulatory progress concerning the removal of the REMS requirement for embryo-fetal toxicity is seen as a positive development. This could lead to a relaxation of the liver monitoring requirements, which initially included a black-box warning for hepatotoxicity. The potential for a larger market in FSGS compared to IgAN, combined with the company’s strategic positioning, supports the optimistic outlook and the Buy rating for Travere Therapeutics’ stock.
In another report released on March 17, Canaccord Genuity also maintained a Buy rating on the stock with a $45.00 price target.
TVTX’s price has also changed dramatically for the past six months – from $14.400 to $20.870, which is a 44.93% increase.