Wells Fargo upgrades Travere Therapeutics to Overweight on further upside

As previously reported, Wells Fargo upgraded Travere Therapeutics (TVTX) to Overweight from Equal Weight with a price target of $27, up from $9, as the firm think it is poised for further upside. Wells notes Travere’s stock has done well year to date, largely driven by full approval of Filspari in IgA Nephropathy coupled with KDIGO guidelines supporting treatment in patients with less than 1 g/d proteinuria and aggressive disease management to target lower proteinuria levels, and increased optimism around another indication called FSGS, driven by an independent group PARASOL. Despite the stock move, the firm believes there is further upside in the stock, which could be realized over 2025.