Piper Sandler Reiterates Neutral Rating on Travere Therapeutics (TVTX)

Piper Sandler analyst Nicole Gabreski reiterated a Neutral rating and $12.00 price target on Travere Therapeutics (NASDAQ: TVTX).

The analyst commented, "Remain Neutral-rated on TVTX shares and highlight herein a detailed look at the US IgA Nephropathy (IgAN) market based on feedback from several recent nephrologist surveys. Overall, this Spherix survey work reinforces our view that TVTX’s goal of establishing Filspari as a foundational therapy in IgAN – replacing ACEs and ARBs – will continue to face significant hurdles even after Filspari receives full FDA approval (expected next week), due in large part to OOP/access difficulties and the REMS (monthly liver monitoring), which we don’t expect will go away anytime soon based on our read of relevant FDA documents. Given this, and the maturing pipeline of new therapies for IgAN, we wonder if longer-term consensus expectations for Filspari could prove overly optimistic. We remain comfortable on the sidelines."

For an analyst ratings summary and ratings history on Travere Therapeutics click here. For more ratings news on Travere Therapeutics click here.

Shares of Travere Therapeutics closed at $9.06 yesterday.

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