Travere Therapeutics initiated with a Buy, $37 price target at Guggenheim

As previously reported, Guggenheim initiated coverage of Travere Therapeutics with a Buy rating and $37 price target. While the firm expects it will take time for the company to gain traction with their recently FDA-approved endothelin receptor antagonist Filspari, they expect physicians to gain increasing comfort with the product over time in both immunoglobulin A nephropathy, or IgAN, and focal segmental glomerulosclerosis, or FSGS. The firm estimates peak Filspari U.S. annual sales across both indications to exceed $1.8Bn in 2032.