Piper Sandler lowered the firm’s price target on Travere Therapeutics (TVTX) to $41 from $44 and keeps an Overweight rating on the shares. The analyst believes Calliditas Therapeutics’ (CALT) two-year estimated glomerular filtration rate data for Tarpeyo in immunoglobulin A nephropathy is a positive readthrough for Travere, with the company’s upcoming PROTECT eGFR data for Filspari expected in Q4. Piper cites dilution from Travere’s secondary offering for the target drop.
Published first on TheFly
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- Travere Therapeutics initiated with a Buy, $37 price target at Guggenheim
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