Julian Harrison, an analyst from BTIG, maintained the Buy rating on Tvardi Therapeutics. The associated price target is $15.00.
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Julian Harrison has given his Buy rating due to a combination of factors surrounding the potential of Tvardi Therapeutics’ pipeline, particularly focusing on TTI-109. Despite the setbacks with TTI-101 in the IPF trial, which showed no significant benefit and had high discontinuation rates due to gastrointestinal side effects, the development of TTI-109 presents a promising alternative. TTI-109, a prodrug of TTI-101, demonstrates higher bioavailability and is designed to minimize gastrointestinal exposure, potentially reducing adverse effects.
Harrison sees potential in TTI-109’s improved tolerability, which could open multiple avenues for treating STAT3-driven conditions. The management’s plan to explore TTI-109 in other indications, coupled with ongoing trials in hepatocellular carcinoma, suggests a broader therapeutic relevance. The valuation, based on a net present value sum-of-the-parts analysis, reflects optimism in the company’s future prospects, despite the increased discount rate and lowered price target.
In another report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $10.00 price target.