Analyst Tyler Van Buren from TD Cowen maintained a Buy rating on Travere Therapeutics and keeping the price target at $30.00.
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Tyler Van Buren’s rating is based on several key performance indicators and strategic developments at Travere Therapeutics. The company reported impressive second-quarter results for Filspari, with revenues reaching $72 million, which was a 14% increase over consensus estimates. This growth was driven by a 29% quarter-over-quarter increase, highlighting strong demand and an expanding prescriber base. Additionally, the company achieved record high patient start forms (PSFs), indicating a durable and expanding market presence.
Furthermore, the management’s ability to sustain demand and efficiently fulfill orders has contributed to the positive outlook. The strategic preparation for upcoming regulatory milestones, such as the expected Q4 AdCom for FSGS and the REMS PDUFA, also supports the Buy rating. These factors collectively suggest a sustainable growth trajectory for Travere Therapeutics, reinforcing Tyler Van Buren’s confidence in the company’s future performance.
In another report released yesterday, Bank of America Securities also reiterated a Buy rating on the stock with a $27.00 price target.