Analyst Jason Zemansky from Bank of America Securities reiterated a Buy rating on Travere Therapeutics (TVTX – Research Report) and increased the price target to $31.00 from $29.00.
Jason Zemansky has given his Buy rating due to a combination of factors that highlight the promising outlook for Travere Therapeutics. The sentiment around Travere has improved significantly, driven by positive regulatory updates and strong commercial execution, particularly concerning their drug Filspari. Zemansky believes that the dual endothelin/angiotensin receptor antagonist is currently undervalued, with its potential in treating focal segmental glomerulosclerosis (FSGS) being a key opportunity that is not fully appreciated by the market.
Moreover, Zemansky points out that the anticipated updates to treatment guidelines for IgA nephropathy (IgAN) could serve as a tailwind for the company. He also notes the potential impact of the Risk Evaluation and Mitigation Strategy (REMS) modifications expected in late August. These factors, along with insights from nephrology key opinion leaders, support his decision to maintain a Buy rating and increase the price objective to $31, reflecting a positive outlook for Travere’s stock.
In another report released on March 17, Canaccord Genuity also maintained a Buy rating on the stock with a $45.00 price target.