Raymond James downgraded Tvardi Therapeutics (TVRD) to Market Perform from Outperform without a price target The firm believes many open questions remain regarding TTI-101 following the unsuccessful REVERT-IPF readout. The discontinuation rate seen in the readout adds risk to this program, the analyst tells investors in a research note. Raymond James downgraded Tvardi to reflect the removal of the idiopathic pulmonary fibrosis opportunity and uncertainty on the path forward.
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