Analyst Edward Nash from Canaccord Genuity maintained a Buy rating on Travere Therapeutics (TVTX – Research Report) and keeping the price target at $45.00.
Edward Nash has given his Buy rating due to a combination of factors surrounding Travere Therapeutics. A significant reason is the company’s recent strategic moves with its drug Filspari, particularly the submission of a supplemental New Drug Application (sNDA) for the treatment of FSGS, a rare kidney disorder. This submission follows successful Phase II and Phase III clinical trials that demonstrated a strong reduction in proteinuria, a key indicator for FSGS treatment efficacy.
Additionally, the easing of the Risk Evaluation and Mitigation Strategy (REMS) requirements by the FDA for Filspari further strengthens Travere’s position. The FDA’s decision to no longer require REMS due to reduced concerns about embryo-fetal toxicity is a positive development, as it simplifies the regulatory landscape for the drug. These factors, combined with Travere’s existing commercial infrastructure, suggest a promising financial outlook, supporting Nash’s Buy rating.
According to TipRanks, Nash is a 5-star analyst with an average return of 13.0% and a 42.86% success rate. Nash covers the Healthcare sector, focusing on stocks such as Corcept Therapeutics, Travere Therapeutics, and Verona Pharma.