Travere Therapeutics (TVTX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on February 11. Analyst Joseph Schwartz from Leerink Partners maintained a Buy rating on the stock and has a $42.00 price target.
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Joseph Schwartz has given his Buy rating due to a combination of factors including recent regulatory advancements and the potential market opportunity for Travere Therapeutics’ Filspari in treating FSGS. The company is moving forward with a supplemental New Drug Application for Filspari, which could open a $1 billion market opportunity, as there are currently no approved therapies for FSGS. This regulatory progress is supported by data from their Phase 3 DUPLEX and Phase 2 DUET studies, positioning Travere well for a potential launch in the second half of 2025.
Furthermore, the analyst believes that approval in FSGS would not only enhance the lifecycle of Filspari but also mitigate competitive pressures in their current market for IgA nephropathy. With conservative sales estimates projecting a peak of over $1.1 billion, the probability of success for Filspari in FSGS has been raised to 75%. As a result, the price target for Travere’s stock has been increased to $42, reflecting the strong outlook and substantial market potential.
In another report released yesterday, Evercore ISI also maintained a Buy rating on the stock with a $45.00 price target.