Travere Therapeutics price target lowered to $17 from $20 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Travere Therapeutics to $17 from $20 and keeps a Buy rating on the shares. The firm moderated expectations for the long-term net sales growth trajectory of Filspari to account for the expected expiry of market exclusivity in 2033 and lowered its view of the odds of success for receipt of milestone payments on the divested bile acid products to 25% from 40% previously to “better align with recent biotech milestone achievement statistics,” the analyst tells investors.