BofA update shows where active managers are putting money
Investing.com - H.C. Wainwright raised its price target on Travere Therapeutics (NASDAQ:TVTX) to $47.00 from $30.00 on Thursday, while maintaining a Buy rating on the stock. The biotech company, currently valued at $1.56 billion, has seen its stock surge 93% over the past year. According to InvestingPro data, analyst targets now range from $20 to $47, with a strong Buy consensus.
The price target increase follows the FDA’s approval of an update to the REMS labeling for FILSPARI. The regulatory agency reduced the frequency of liver function monitoring from monthly to every three months starting at treatment initiation and removed the pregnancy monitoring requirement.
H.C. Wainwright noted the FDA’s decision was based on post-marketing safety data and results from multiple clinical studies, including the Phase 3 PROTECT study in IgAN, the Phase 3 DUPLEX study, and the Phase 2 DUET study in focal segmental glomerulosclerosis (FSGS).
For the pregnancy monitoring removal, the FDA concluded the requirement was no longer necessary after analyzing human pregnancy data from endothelin receptor antagonist (ERA) use over the past two decades.
The firm’s increased price target reflects projected positive inflection points for FILSPARI revenue following the FDA’s easing of REMS restrictions, as well as expectations for an FSGS approval in early 2026.
In other recent news, Travere Therapeutics reported its second-quarter 2025 earnings, showcasing a revenue of $114.4 million, which exceeded market forecasts of $99.25 million. This revenue beat represented a 15.26% surprise. The company’s earnings per share (EPS) showed a loss of $0.14, performing better than the expected loss of $0.30. Additionally, Stifel made adjustments to its outlook on Travere Therapeutics, lowering the stock price target to $20 from $23 while maintaining a Hold rating. This revision was influenced by uncertainty surrounding the approval timeline for Filspari in treating focal segmental glomerulosclerosis (FSGS). Stifel adjusted the probability of Filspari’s success to 66% from a previous 90% due to regulatory concerns. These developments reflect the ongoing dynamics and challenges faced by Travere Therapeutics in the market.
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