Piper Sandler upgraded Travere Therapeutics (TVTX) to Overweight from Neutral with a price target of $49, up from $38, following FDA approval of Filspari in focal segmental glomerulosclerosis. The firm had viewed this as a “risky PDUFA decision” and says the company “deserves a lot of credit for persevering here.” The IgAN launch as exceeded Piper’s expectations and the firm expects continued execution for the FSGS launch, adds the analyst, who would now be a buyer of the stock.
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