Wedbush lowered the firm’s price target on Travere Therapeutics to $17 from $19 and keeps an Outperform rating on the shares. The company announced a voluntary pause in enrollment of their Phase 3 HARMONY study of pegtibatinase due to manufacturing scale-up challenges, the analyst tells investors in a research note. The firm says the pause is disappointing as pegtibatinase represented an opportunity to further diversify the story beyond Filspari. It shifted its launch timing to fiscal 2030, which assumes enrollment restart in 2026.
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