H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Travere Therapeutics today and set a price target of $47.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors including the positive clinical data from Travere Therapeutics’ FILSPARI in Japan. The Phase 3 study showed a significant reduction in proteinuria, aligning with international results and reinforcing the drug’s consistent clinical profile. This success in Japan is expected to bolster FILSPARI’s global presence in treating IgAN, with a New Drug Application submission anticipated in 2026, potentially expanding its market reach in Asia.
Additionally, Travere Therapeutics has an upcoming PDUFA date for FSGS in early 2026, which Pantginis expects to result in approval, further enhancing revenue prospects. The valuation supporting the Buy rating is based on a risk-adjusted net present value analysis, considering future revenue projections and a discount rate of 9.5%. The positive outlook is tempered by potential risks such as unsuccessful clinical trials or funding challenges, but the overall assessment remains optimistic with a price target of $47.
In another report released on November 12, Guggenheim also reiterated a Buy rating on the stock with a $49.00 price target.