Analyst Tyler Van Buren of TD Cowen maintained a Buy rating on Travere Therapeutics, boosting the price target to $40.00.
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Tyler Van Buren has given his Buy rating due to a combination of factors that highlight Travere Therapeutics’ strong performance and future potential. The company reported impressive third-quarter sales for Filspari, achieving a 26% quarter-over-quarter growth and surpassing consensus expectations by 15%. This growth was driven by increased utilization among existing prescribers and the expansion of new prescribers, indicating a robust demand for the product.
Additionally, the management’s confidence ahead of the upcoming FSGS PDUFA in January and the strategic positioning for the Phase III restart in 2026 further support the positive outlook. Despite some seasonal fluctuations, the patient support forms (PSFs) maintained a stable demand, with September reaching record daily volumes that continued into October. The lack of significant impact from the recent launch of a competing product, Vanrafia, also underscores the strength of Filspari’s market position.