Yigal Nochomovitz, an analyst from Citi, maintained the Buy rating on Travere Therapeutics. The associated price target remains the same with $34.00.
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Yigal Nochomovitz has given his Buy rating due to a combination of factors that highlight the potential growth and strategic positioning of Travere Therapeutics. The management of Travere Therapeutics expressed confidence during a recent virtual fireside chat, particularly regarding the upcoming PDUFA decision for Filspari’s IgAN REMS, which is expected to reduce monitoring requirements to a quarterly basis. This reduction is seen as a manageable change that could lead to further discussions with the FDA to eventually remove REMS altogether.
Additionally, the anticipated updates to the KDIGO IgAN guidelines are expected to drive earlier therapeutic interventions, which could significantly benefit Travere’s market position. The combination of Filspari with SGLT2 inhibitors and emerging B-cell-targeted therapies is projected to establish a new standard of care for IgAN. Furthermore, the management is expected to present a compelling case at the upcoming AdCOM for FSGS, emphasizing the reliability of proteinuria as a surrogate marker. These strategic developments contribute to an expected share price return of 80.7%, supporting the Buy recommendation.
According to TipRanks, Nochomovitz is a 4-star analyst with an average return of 6.5% and a 42.86% success rate. Nochomovitz covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Arcturus Therapeutics, and Travere Therapeutics.
In another report released on August 14, Canaccord Genuity also maintained a Buy rating on the stock with a $47.00 price target.