JonesResearch analyst Debanjana Chatterjee initiated coverage of Tvardi Therapeutics (TVRD) with a Buy rating and $39 price target The company’s lead drug TTI-101 is being tested in Phase 2 REVERT studies for idiopathic pulmonary fibrosis and hepatocellular carcinoma, the analyst tells investors in a research note. The firm believes Tvardi “appears to be under the radar” and sees a favorable risk/reward into the second half of 2025 data.