Travere Therapeutics (TVTX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on May 1. 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 that highlight Travere Therapeutics’ promising market position and growth potential. The company reported impressive first-quarter sales for Filspari, which exceeded expectations and demonstrated strong underlying patient demand. This positive performance is supported by the expanded approval and updated treatment guidelines, which are expected to further drive growth.
Additionally, the European Commission’s conversion of Filspari’s conditional marketing authorization to standard marketing authorization is a significant milestone, triggering a financial benefit for Travere. Furthermore, the potential market opportunity in focal segmental glomerulosclerosis (FSGS) adds to the company’s growth prospects, with a supplemental New Drug Application submitted and a potential launch anticipated later in the year. These factors, combined with the strong performance in the IgA nephropathy market, underpin Schwartz’s positive outlook on Travere Therapeutics, leading to a reiterated Outperform rating and a $42 price target.
In another report released on May 2, Scotiabank also reiterated a Buy rating on the stock with a $30.00 price target.