Strong Market Performance and Growth Potential Drive Buy Rating for Travere Therapeutics

TD Cowen analyst Tyler Van Buren maintained a Buy rating on Travere Therapeutics (TVTX – Research Report) yesterday and set a price target of $30.00.

Tyler Van Buren has given his Buy rating due to a combination of factors that highlight Travere Therapeutics’ strong market performance and potential for future growth. The company’s Q1 revenue for Filspari was $56 million, aligning with market expectations and demonstrating a 13% quarter-over-quarter increase. This growth is particularly notable following an impressive 40% increase in the previous quarter, indicating robust demand and effective market penetration.
Additionally, the increase in patient start forms (PSFs) to record high volumes underscores the strong prescriber base and consistent demand for Filspari. Despite higher gross-to-net discounts due to insurance changes, the company maintained strong sales performance, which reflects positively on its market strategy and execution. The anticipated FDA notification regarding the FSGS sNDA filing could further bolster the company’s prospects, supporting the Buy rating.

According to TipRanks, Van Buren is an analyst with an average return of -6.3% and a 36.59% success rate. Van Buren covers the Healthcare sector, focusing on stocks such as BridgeBio Pharma, Regeneron, and Moderna.