J.P. Morgan analyst Anupam Rama has maintained their bullish stance on TVTX stock, giving a Buy rating on August 8.
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Anupam Rama has given his Buy rating due to a combination of factors that highlight the potential growth and value creation for Travere Therapeutics. One of the key elements is the anticipated modification of the Filspari label, which, while not revolutionary, is expected to contribute positively to the company’s prospects. Additionally, the continued growth in the IgAN segment is seen as a significant opportunity, particularly as the market may be underestimating the potential driven by patients with lower baseline proteinuria levels.
Another crucial factor influencing the Buy rating is the upcoming FSGS Advisory Committee meeting, where there is optimism based on the comprehensive data available. Travere’s strategic moves, such as setting a new baseline for patient start forms and differentiating Filspari’s dual mechanism, further bolster the company’s position. The anticipated presence at the ASN in November to emphasize FSGS education and the broad applicability of Filspari in IgAN also underscores the company’s proactive approach to market expansion. Overall, the commercial potential of Filspari and the positive outlook in FSGS are central to the Overweight rating on TVTX shares.
In another report released on August 8, Canaccord Genuity also maintained a Buy rating on the stock with a $47.00 price target.