Joseph Pantginis, an analyst from H.C. Wainwright, reiterated the Buy rating on Travere Therapeutics. The associated price target remains the same with $47.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors, primarily revolving around the recent KDIGO guidelines that position FILSPARI as a foundational first-line therapy for IgA nephropathy (IgAN). This endorsement is seen as a significant validation of FILSPARI’s clinical efficacy, which is expected to enhance its adoption by physicians treating at-risk patients.
Furthermore, the KDIGO guidelines recommend sparsentan for patients at risk of progressive kidney function loss, highlighting its effectiveness over existing therapies. The PROTECT study provides supporting evidence for the early use of sparsentan, demonstrating its superior ability to reduce proteinuria and preserve kidney function compared to traditional RASi strategies. This dual-pathway approach, which is not matched by other endothelin receptor antagonists, further solidifies FILSPARI’s unique position in the market.
In another report released on September 11, Canaccord Genuity also maintained a Buy rating on the stock with a $47.00 price target.