Leerink Partners analyst Joseph Schwartz has reiterated their bullish stance on TVTX stock, giving a Buy rating on June 16.
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Joseph Schwartz has given his Buy rating due to a combination of factors surrounding Travere Therapeutics. The company is currently experiencing a positive trajectory with its product, Filspari, which received full approval for treating IgA nephropathy (IgAN) in 2023. This approval, along with updated treatment guidelines, has led to a significant increase in the product’s market presence. Despite the anticipated rise in competition within the IgAN market, Schwartz believes that Filspari’s full approval status provides it with a competitive edge over other treatments that have only received accelerated approval.
Furthermore, Travere Therapeutics is exploring expansion opportunities in focal segmental glomerulosclerosis (FSGS), with a supplemental New Drug Application under review by the FDA. Although regulatory risks are inherent in such processes, Schwartz is optimistic about the company’s prospects due to management’s confidence and strategic positioning. With the stock currently undervalued, Schwartz sees significant potential for growth, particularly if the FSGS opportunity materializes, reinforcing his Buy rating.
In another report released on June 16, Evercore ISI also maintained a Buy rating on the stock with a $45.00 price target.
TVTX’s price has also changed moderately for the past six months – from $17.150 to $14.490, which is a -15.51% drop .