Travere Therapeutics initiated with a Hold at Stifel

Stifel analyst Alex Thompson initiated coverage of Travere Therapeutics with a Hold rating and $22 price target. While Travere’s Sparsentan will likely get approved by the February 2023 PDUFA date, longer term the analyst has questions about "the competitive set up within the ETA class and model Sparsentan as achieving less share than Atrasentan in IgAN."