Joseph Schwartz, an analyst from Leerink Partners, maintained the Buy rating on Travere Therapeutics. The associated price target remains the same with $42.00.
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Joseph Schwartz has given his Buy rating due to a combination of factors that highlight the strong performance and future potential of Travere Therapeutics. The company’s second-quarter results exceeded expectations, with Filspari sales showing a significant increase, indicating robust demand and successful market penetration. This growth is further supported by the updated treatment guidelines and the full approval conversion achieved last year, which have contributed to the product’s impressive launch trajectory.
Additionally, the potential expansion into the focal segmental glomerulosclerosis (FSGS) market represents a significant opportunity for Travere. The supplemental New Drug Application for FSGS has been accepted for review, and while there is some regulatory risk associated with the upcoming Advisory Committee meeting, the company appears well-prepared to advocate for Filspari’s approval in this new indication. The combination of strong current sales performance and the promising outlook for market expansion underpins the positive outlook and Buy rating for the stock.
In another report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $30.00 price target.
TVTX’s price has also changed moderately for the past six months – from $21.860 to $17.240, which is a -21.13% drop .